Coal India to sell 25% each in units South Eastern Coalfields, Mahanadi Coalfields
State-run miner Coal India said on Monday it will sell up to 25% each in its units South Eastern Coalfields (SECL) and Mahanadi Coalfields (MCL) through initial public offerings or other routes.
Coal India had in December approved plans to list the units. It is not clear when the company plans to carry out the listing.
SECL will also issue new shares worth up to 10% of the post-issue share capital, Coal India said in a stock exchange filing late Monday.
India was the world’s second-largest IPO market in 2025, according to LSEG data, but sentiment has weakened this year amid a sell-off spurred by the U.S.-Israel war on Iran.
SECL and MCL operate in the states of Chhattisgarh and Odisha, respectively. They produced about 392 million tonnes of coal in fiscal 2024-2025, about half of Coal India’s total production.
Coal India contributed to about 74% of India’s total coal production in fiscal 2024–25.
The IPO of Central Mine Planning & Design Institute, another Coal India unit, is open for subscriptions this week, while Bharat Coking Coal BARC.NS went public in January.
(Reporting by Fabiola Arámburo and Chris Thomas in Mexico City)
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