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Coal India Accelerates IPO Plans for BCCL and CMPDI: BRLMs Appointed, DRHP Filing Imminent

Updated: May 20, 2025 17:33

Coal India Ltd (CIL) has taken a major step forward in its long-awaited plan to list two key subsidiaries—Bharat Coking Coal Ltd (BCCL) and Central Mine Planning and Design Institute (CMPDI). The company confirmed that Book Running Lead Managers (BRLMs) have been appointed through a competitive tendering process, and the Draft Red Herring Prospectus (DRHP) for both IPOs is now under preparation.
 
Key Highlights:
  • IPO Process in Motion: The listing process for BCCL and CMPDI has officially begun, with CIL’s Director of Business Development, Debasish Nanda, announcing that the DRHP will be filed with SEBI soon. This marks a significant milestone in the government’s broader divestment strategy.
  • BRLMs Appointed: Through a formal tendering process, BRLMs have been selected to steer the IPOs, ensuring compliance, transparency, and efficient execution as the process advances.
  • Regulatory Progress: CIL clarified that all activities related to the listing of BCCL and CMPDI are progressing as planned, with further updates to follow as the DRHP nears completion.
  • Market Timing: While the groundwork is set, the final timing of the IPOs will depend on prevailing market conditions, as previously indicated by the coal ministry.
  • Sector Leadership: Coal India, accounting for over 80% of India’s coal production, continues to focus on critical minerals both domestically and internationally, exploring opportunities in regions like South America, Australia, and Africa.
  • Financial Performance: CIL reported a 12% year-on-year rise in consolidated net profit for Q4 FY25, reflecting robust operational performance amid steady coal production.
With the IPO machinery in full swing, Coal India’s move to list BCCL and CMPDI is poised to reshape the sector’s landscape and unlock fresh value for stakeholders.
 
Sources: Economic Times, Business Standard, The Week, Upstox

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