Coal India Limited on Monday, March 23 gave the green light to preliminary plans to partially sell stakes in two of its major subsidiaries—South Eastern Coalfields Limited (SECL) and Mahanadi Coalfields Limited (MCL)—as part of its larger strategy for listing.
The board sanctioned a proposal to divest up to 35% in SECL, which includes a 25% stake sale through an Offer for Sale (OFS) and the issuance of new equity shares of up to 10% via an IPO or other allowed methods, to be carried out in one or multiple tranches.
Furthermore, it approved a 25% stake sale in MCL through OFS, similarly to be conducted via an IPO or other market avenues.
The company had previously authorized the separate listings of both subsidiaries through distinct resolutions in December 2025.
This proposal will now be forwarded to the Ministry of Coal for additional submission to DIPAM, with final implementation contingent on regulatory approvals.
SECL, which is one of Coal India’s major producing subsidiaries, manages 60 coal mines located in Chhattisgarh and Madhya Pradesh, encompassing both underground and surface mining operations.
On the other hand, MCL, a Miniratna company located in Sambalpur, was established from SECL in 1992 and continues to be a significant contributor to Coal India’s overall production.
The initial public offering of the Central Mine Planning & Design Institute, a subsidiary of Coal India, is available for subscriptions this week, while Bharat Coking Coal launched its public offering in January.
(more to come)