Coal India says it will launch initial public offerings for two major subsidiaries, South Eastern Coalfields Ltd (SECL) and Mahanadi Coalfields Ltd (MCL), during the current fiscal year, aiming to complete them by year-end. The statement is attributed to Coal India chairman and managing director B Sairam.
Sairam indicates the exact timetable depends on market conditions and government directives. Both outlets also reference earlier approvals within Coal India for the divestment and listing process: in-principle approval was given for selling up to 25% equity in each subsidiary through an offer for sale, along with the issuance of up to 10% of SECL’s post-issue paid-up capital via an IPO route.
One outlet adds indicative size expectations for the proposed offerings, citing market estimates that MCL’s issue could be around Rs 10,000 crore and SECL’s could fall in the Rs 8,000–Rs 10,000 crore range, while noting that offer size and structure are to be finalised closer to launch. The overall coverage aligns on the year-end completion target and the dependence on external conditions rather than a fixed date.
