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Coal India Eyes FY27 for SECL, MCL IPOs Amid Divestment Plans

By Business DeskCoal India Eyes FY27 for SECL, MCL IPOs Amid Divestment Plans

Coal India Limited aims to launch IPOs for subsidiaries SECL and MCL by FY27, planning to divest up to 25% equity and raise significant capital.

Coal India Limited (CIL) is set to launch Initial Public Offerings (IPOs) for two of its key subsidiaries, South Eastern Coalfields Ltd (SECL) and Mahanadi Coalfields Limited (MCL), within the financial year 2027.

The company’s board had already granted in-principle approval in March for divesting up to a 25 percent equity stake in both SECL and MCL through an offer for sale (OFS).

Key IPO Projections

  • MCL’s public issue is projected to raise approximately Rs 10,000 crore.
  • SECL’s IPO is anticipated to be in the range of Rs 8,000-Rs 10,000 crore.
  • SECL’s IPO will also include the issuance of up to 10 percent of its post-issue paid-up capital as fresh equity shares.

B Sairam, Coal India’s chairman and managing director, announced these plans, noting that the precise timing remains contingent on prevailing market conditions and government directives.

These strategic listings follow earlier successful public offerings from other Coal India subsidiaries this year, specifically Central Mine Planning and Design Institute Ltd (CMPDI) and Bharat Coking Coal Ltd (BCCL).

SECL and MCL are significant contributors to CIL’s overall operations, collectively accounting for approximately half of Coal India’s total output.

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