The proposed offering is structured entirely as an offer-for-sale of 66.8 crore equity shares with a face value of Rs 2 each, directing all transaction proceeds to Coal India Limited. The allocation sets aside up to 50% of the net offer for qualified institutional buyers, at least 35% for retail individual investors, and at least 15% for non-institutional investors. As of April 1, 2026, the company held 4.61 billion tonnes in audited coal reserves alongside 47.55 billion tonnes in total geological coal resources. These audited reserves are estimated to sustain the subsidiary's operational activities for approximately 26 years based on FY26 output volumes.
Key points
Coal India will collect all capital raised from the public issue because the offering con…: Coal India will collect all capital raised from the public issue because the offering consists solely of an offer-for-sale.
The issuer holds 4.61 billion tonnes of audited coal reserves projected to sustain produc…: The issuer holds 4.61 billion tonnes of audited coal reserves projected to sustain production for about 26 years.
Retail individual investors will be allocated at least 35% of the net equity shares avail…: Retail individual investors will be allocated at least 35% of the net equity shares available in the offering.
Sources checked by our analysis pipeline: 1
The equity shares will have a face value of Rs 2 each. Since the issue is entirely an OFS, SECL will not receive any proceeds from the offering; the proceeds will accrue to Coal India Limited, the selling shareholder.
The IPO will be conducted through the book-building process. Under the proposed allocation structure, not more than 50% of the net offer will be reserved for qualified institutional buyers (QIBs), while not less than 15% and 35% will be allocated to non-institutional investors (NIIs) and retail individual investors, respectively.
Incorporated in 1985, South Eastern Coalfields is among India's largest coal producers. The company produced 176.29 million tonnes of coal in FY26, accounting for 16.94% of the country's total coal production, according to the CRISIL report.
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Headquartered in Bilaspur, Chhattisgarh, SECL is a wholly owned subsidiary of Coal India and holds Miniratna Category-I status, which was conferred on it on March 15, 2007. The company completed 40 years of coal mining operations in 2025.
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