{
  "id": 5118311,
  "title": "Mahanadi Coalfields files DRHP with SEBI for IPO, Coal India plans to sell 10% stake",
  "url": "https://urgent.news/2026/09/02/mahanadi-coalfields-files-drhp-with-sebi-for-ipo-coal-india-plans-to",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-02T15:26:54.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/mahanadi-coalfields-files-drhp-with-sebi-for-ipo-coal-india-plans-to-sell-10-stake/article71420575.ece"
  },
  "original_language": "en",
  "account": "State-owned Coal India is set to sell a 10% stake in its subsidiary Mahanadi Coalfields (MCL), as the company has submitted preliminary documentation with the SEBI for an initial public offering (IPO). SEBI has approved MCL's draft red herring prospectus, stating that the IPO proposal pertains to an offer for sale (OFS) of up to 661,836,300 equity shares, each with a face value of ₹2, held by Coal India Ltd. The IPO is currently awaiting necessary approvals and will be subject to prevailing market conditions and other relevant factors. Through a book-building process, up to 50% of the net offer will be allocated to qualified institutional buyers, while 15-35% will be allocated to non-institutional bidders and retail individual bidders, respectively. MCL, based in Odisha, will not receive any proceeds from the share sale, as the entire amount will go to Coal India. As India's largest coal-producing subsidiary, MCL contributes 21% to the country's domestic coal production, with its non-coking coal output accounting for 28.3% of Coal India's total coal production in the fiscal year 2026. The company's extensive coal reserves, estimated at approximately 40.34 billion tonnes in the Talcher and Ib Valley coalfields, position it as one of the largest coal resource holders in India, making it strategically advantageous for various industries, including power, steel, and cement. MCL's draft prospectus was filed with SEBI, the Bombay Stock Exchange (BSE), and the National Stock Exchange (NSE) on Wednesday.",
  "summary": "The proposed IPO remains subject to receipt of applicable approvals, prevailing market conditions and other relevant considerations",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}