Mahanadi Coalfields Limited has officially filed its Red Herring Prospectus with the Registrar of Companies, SEBI, and stock exchanges for an initial public offering valued at Rs 9,500 crore while broader markets brace for artificial intelligence sector developments involving Nvidia and Anthropic.
IPO Structure and Timeline
- Offering Type: Entirely an offer for sale of up to 66.18 crore equity shares by parent company Coal India Limited.
- Subscription Dates: Opens on November 19, 2026, and closes on November 23, 2026.
- Anchor Investor Bidding: Scheduled for November 18, 2026.
- Tentative Allotment and Listing: Allotment on November 25, 2026 and listing on November 27, 2026.
The offering includes specific allocations for eligible stakeholders alongside institutional and retail categories.
Allocation and Financial Scale
- Employee Reservation: Up to 3.31 crore shares set aside for eligible employees.
- Coal India Shareholder Reservation: 6.61 crore shares reserved for eligible shareholders.
- Net Offer Breakdown: 50% allocated to Qualified Institutional Buyers, 15% to non-institutional investors, and 35% to retail individual investors.
- Production Scale: MCL accounted for 21% of domestic coal production in FY26, producing 218.31 million tonnes.
Because the offering is structured entirely as an offer for sale, parent company Coal India will receive all proceeds from the divestment.