India: Markets Regulator Approves IPO of Coal India Unit Mahanadi Coalfields as Parent Plans to Sell 10 Percent Stake
India's capital markets regulator has approved state-run miner Coal India's unit Mahanadi Coalfields' initial public offering (IPO), in what is expected to be one of India's biggest offerings this year. Coal India is the world's largest coal producer.
Draft papers filed in September showed the parent is selling a 10 percent stake in Mahanadi Coalfields through the unit's IPO, offering up to 661.8 million shares. The unit operates primarily in eastern Odisha and accounted for 21 percent of India's overall domestic coal production and 28.4 percent of Coal India's total coal production in fiscal year 2026. Coal India contributed about 74 percent of India's total coal production in fiscal 2026.
Bloomberg reported on November 2 that Coal India is preparing to launch the IPO as early as this month; the offering could raise as much as US$1 billion and value Mahanadi Coalfields at as much as US$10 billion. India's capital markets have seen a string of high-profile offerings this year, underscoring strong investor appetite for large, marquee listings.
Source: 印度证券交易委员会
Published by GSM · USA (original Chinese edition)
Photo: 照片：印度贾里亚露天煤矿（资料图），International Accountability Project 摄，Wikimedia Commons，CC BY 2.0 授权 / Photo: Open pit coal mine in Jharia, India (file photo), by International Accountability Project, Wikimedia Commons, CC BY 2.0
