Coal India will offload up to 66.18 crore equity shares in Mahanadi Coalfields Ltd through an entirely secondary market offering. Established in 1992, the subsidiary forms the backbone of the parent firm by generating 28% of its total coal volume, reaching 218.31 million tonnes in FY26. The price band will be disclosed on 16 November, followed by an anchor investor bidding window on 18 November. Finalized shares are slated to debut on both the BSE and NSE on 27 November.
Key points
The offering reserves at least 35% of the shares for retail investors and up to 50% for Q…: The offering reserves at least 35% of the shares for retail investors and up to 50% for Qualified Institutional Buyers.
Share allotment is scheduled for finalization on 25 November, leading to a planned stock…: Share allotment is scheduled for finalization on 25 November, leading to a planned stock exchange debut on 27 November.
Coal India continues its subsidiary monetization roadmap after executing earlier listings…: Coal India continues its subsidiary monetization roadmap after executing earlier listings of Bharat Coking Coal and Central Mine Planning & Design Institute.
Sources checked by our analysis pipeline: 1
Mahanadi Coalfields Ltd (MCL), a wholly owned subsidiary of Coal India Ltd, is set to launch its initial public offering (IPO) on 19 November. The price band is yet to be announced, but market sources indicate that the company is likely to disclose it on 16 November. The issue will remain open for subscription until 23 November, according to the red herring prospectus (RHP).
MCL filed its RHP on Saturday, 14 November, for the proposed public issue. The document, dated 13 November, was submitted to the Registrar of Companies (RoC), the Securities and Exchange Board of India (SEBI), the BSE and the NSE, Coal India said in a regulatory filing.
Established in 1992, MCL produced 218.31 million tonnes (MT) of coal in FY26, accounting for around 22.4% of India's total non-coking coal production, according to a CRISIL report cited in the draft papers.
It is the largest coal-producing subsidiary of Coal India, contributing 28% to the state-owned company's overall output in FY26. Coal India, in turn, accounts for more than 80% of India's domestic coal production.
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