Coal India Limited Files DRHP With SEBI For BCCL IPO; Plans To Offload 46.57 Crore Shares
Earlier, CIL Subsidiary CMPDIL had files DRHP for IPO
Coal India Limited (CIL) has submitted the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), NSE, and BSE for the proposed initial public offering (IPO) of its wholly owned subsidiary, Bharat Coking Coal Limited (BCCL). The IPO will be entirely an Offer for Sale (OFS) of up to 46.57 crore equity shares by CIL, with no fresh equity issuance. All proceeds from the IPO will go directly to the parent company.
This move comes just a week after Central Mine Planning & Design Institute Limited (CMPDIL)—another Coal India subsidiary—filed its own DRHP for a similar IPO.
Pricing details, including the price band and lot size, will be finalized in consultation with the book-running lead managers and announced later.
Both BCCL and CMPDI will be listed on NSE and BSE, which is expected to boost their market visibility and operational independence. The listings also open up opportunities for investors to participate in India’s expanding energy and mineral consultancy segments.
