Mahanadi Coalfields Files for IPO via Coal India Share Sale

Mahanadi Coalfields, India's largest coal producer, filed a draft red herring prospectus with the Securities and Exchange Board of India on August 31, 2026, to launch an initial public offering. The IPO is structured as an offer for sale of 66.18 crore equity shares by its parent company, Coal India, ensuring all net proceeds accrue to the parent entity rather than the subsidiary.

The company reported a profit of Rs 2,399 crore for the quarter ending June 2026. If the listing on the BSE and NSE is successful, Mahanadi Coalfields will become the third of Coal India's eight subsidiaries to trade on public stock exchanges.

Coal India has appointed five merchant bankers to manage the offering: SBI Capital Markets, Axis Capital, BOB Capital Markets, IDBI Capital Markets & Securities, and IIFL Capital Services.