Kolkata: Maharatna miner Coal India Ltd (CIL) plans to launch the proposed initial public offerings (IPOs) of its two largest coal-producing subsidiaries — South Eastern Coalfields Ltd (SECL) and Mahanadi Coalfields Ltd (MCL) — within the current financial year, with the exact timing depending on market conditions and govt directives.
The exact month and date will depend upon the market conditions and the government directives, etc,” Coal India chairman and managing director B Sairam said while responding to shareholders’ queries during the company’s annual general meeting. “Regarding IPOs of South Eastern Coalfields and Mahanadi Coalfields, we plan to hold the IPOs by year-end positively. The IPOs will be completed within this current financial year only. In the last financial year, two CIL subsidiaries — Bharat Coking Coal Ltd (BCCL) and Central Mine Planning & Design Institute (CMPDI) — made successful market debuts. You Can Also Check: Gold Rate in Kolkata | Silver Rate in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata | Kolkata AQI | Weather in Kolkata | Petrol Price in Kolkata | Diesel Price in Kolkata | CNG Price in Kolkata | LPG Price in Kolkata
Earlier this year, the department of investment and public asset management (DIPAM) approved the proposal to list MCL through a combination of fresh equity issuance and disinvestment by CIL through an offer for sale (OFS).