State-owned Coal India Ltd on December 23 announced that its board has granted in-principle approval for the listing of two key subsidiaries — Mahanadi Coalfields Limited (MCL) and South Eastern Coalfields Limited (SECL).
The proposed listings are subject to multiple regulatory and statutory approvals, the PSU said in a post-market filing on Tuesday.
The development follows guidance from the Ministry of Coal, which on December 16 advised Coal India to take concrete steps toward listing select subsidiaries in the financial year 2026–27.
SECL Overview
South Eastern Coalfields Limited (SECL) is a Mini Ratna public sector enterprise with operations spread across Chhattisgarh and Madhya Pradesh. The company has 73 major coal projects approved with a total sanctioned capital of Rs 44,571 crore and an ultimate capacity of 30.28 crore tonnes per annum.
Out of these projects, 30 are ongoing, 38 have been completed, and five underground blocks are existing mines. SECL reported coal production of 16.75 crore tonnes in FY25.
MCL Background
Mahanadi Coalfields Limited (MCL) was carved out of SECL in 1992 and is headquartered in Sambalpur, Odisha. The company was accorded Miniratna status in 2019.
Market Reaction and IPO Buzz
Shares of Coal India surged nearly 4 percent on December 23, closing at Rs 400.65, amid reports suggesting that one of its subsidiaries may soon tap the capital markets.
Separately, reports indicated that Bharat Coking Coal Limited (BCCL), another Coal India subsidiary, could launch a Rs 1,300-crore IPO in the coming weeks. The proposed issue is expected to be a pure offer-for-sale, with Coal India likely to dilute around 10 percent stake. However, the company has not officially confirmed these reports.
Disclaimer
This article is for informational purposes only and does not constitute investment, legal, or financial advice. Readers are advised to consult certified professionals and refer to official disclosures before making any investment decisions.
