Coal India Subsidiaries Set to Dig Deep into Dalal Street with Upcoming IPOs

State-owned Coal India Ltd (CIL) is proceeding with the plan to list two of its units-Bharat Coking Coal Ltd (BCCL) and Central Mine Planning and Design Institute (CMPDI)-with draft red herring prospectuses (DRHPs) to be submitted to the Securities and Exchange Board of India (SEBI) in the next few days.

Coal India Director Business Development Debasish Nanda has today affirmed that the preparations are in progress and the Book Running Lead Manager for the IPO has been appointed already. The decision is a major move in the overall disinvestment strategy of the government. But the timing of the public offers will be subject to market conditions.

Coal India has eight coal-producing units and one technical and advisory company, which collectively account for over 80% of India's coal production. Coal India also plans to expand in India's and foreign major minerals, where South America, Australia, and Africa are the regions of interest.

Financially, Coal India reported a 12% year-on-year increase in consolidated net profit at ₹9,604 crore for the quarter ended March 2025, driven by increased revenue. In the financial year 2024-25, the company produced 781.1 million tonnes of coal, short of its target, but is aiming at 875 million tonnes of production and 900 million tonnes of offtake in FY26.

Source: The Hindu BusinessLine