Coal India Plans IPOs for Two Largest Subsidiaries

Coal India Limited plans to launch initial public offerings for its two largest coal-producing subsidiaries, Mahanadi Coalfields Limited and South Eastern Coalfields Limited, by the end of the current financial year. Chairman and Managing Director B Sairam announced the initiative during the company's 52nd annual general meeting, noting that the board has already granted in-principle approval for the listings.

The company is considering an equity dilution of approximately 25 percent for both subsidiaries. For South Eastern Coalfields, the plan specifically includes an offer for sale of up to 25 percent equity and the issuance of up to 10 percent fresh equity. The Mahanadi Coalfields public issue is expected to be worth approximately ₹10,000 crore, while market expectations place the South Eastern Coalfields IPO between ₹8,000 crore and ₹10,000 crore.

The Department of Investment and Public Asset Management has approved the listing of Mahanadi Coalfields through a combination of fresh equity issuance and an offer for sale by the parent company. Sairam stated that the exact timing of the launches will depend on market conditions and government directives. These moves follow the successful 2026 listings of Bharat Coking Coal and the Central Mine Planning & Design Institute.