Coal India to Sell 10% Stake in Mahanadi Coalfields IPO

MT Newswires Live

6 hours ago

Coal India (NSE:COALINDIA, BOM:533278) is selling a 10% stake in its fully owned unit, Mahanadi Coalfields, through an initial public offering, draft papers filed with the market regulator showed.

Coal India is offering up to 661.8 million shares in the IPO, according to the prospectus dated Aug. 31. Mahanadi Coalfields will not issue new shares and will not receive any proceeds from the offering.

Mahanadi Coalfields, based in Odisha, reported revenue of 305.5 billion rupees and net profit of 107 billion rupees for the year ended March 31, 2026.

Coal India owns 100% of Mahanadi Coalfields.

SBI Capital Markets, Axis Capital, BOB Capital Markets, IDBI Capital Markets & Securities, and IIFL Capital Services are managing the IPO.

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