Coal India Limited announced that its wholly-owned subsidiary, Mahanadi Coalfields Limited (MCL), has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), along with the BSE and NSE. The DRHP pertains to MCL’s proposed Initial Public Offering (IPO), which includes an Offer for Sale of up to 661,836,300 equity shares.
Mahanadi Coalfields Limited Initiates IPO Process
Coal India Limited (CIL) has disclosed a significant development regarding its subsidiary, Mahanadi Coalfields Limited (MCL). In accordance with Regulation 30 of SEBI LODR, 2015, it has been informed that the draft red herring prospectus (DRHP) for MCL has been filed. This filing was made on 1st September, 2026, with the Securities and Exchange Board of India (SEBI), the Bombay Stock Exchange (BSE), and the National Stock Exchange (NSE).
Details of the Proposed IPO
The DRHP outlines MCL’s proposed Initial Public Offering (IPO). This offering includes an Offer for Sale (OFS) of up to 661,836,300 equity shares. These shares have a face value of INR 2 each and are currently held by Coal India Limited. The successful completion of the proposed IPO is contingent upon the receipt of applicable regulatory approvals, favourable market conditions, and other relevant considerations.
Source: BSE
