Mahanadi Coalfields Ltd., a wholly owned subsidiary of Coal India Ltd., has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its proposed initial public offering. The proposed issue is expected to involve the sale of up to 66.18 crore equity shares, representing a 10% stake held by its parent company.
The proposed offering will be entirely an Offer for Sale (OFS), meaning the proceeds will go to Coal India rather than Mahanadi Coalfields. The company operates primarily in Odisha and contributed approximately 21% of India’s domestic coal production during FY26. The IPO opening date, price band and final valuation are yet to be announced.
Source: Economic Times
