Business · Companies · 15 hrs ago
Mahanadi Coalfields files prospectus for proposed Rs 9,500 crore IPO
Mahanadi Coalfields has filed its prospectus for a proposed IPO in India, bringing the planned share sale closer to launch.
The company is a wholly owned subsidiary of Coal India, the state-owned coal producer.
Coal India plans to sell up to 66.18 crore shares, or 10% of its stake, in an offer for sale.
The issue is estimated to raise around Rs 9,500 crore, and the proceeds would go to Coal India rather than Mahanadi Coalfields.
The IPO is part of Coal India's effort to unlock value in its subsidiaries by selling stakes and listing them on stock exchanges.
The offer is scheduled to open on November 19, 2026, but remains subject to approvals and market conditions.
Mahanadi Coalfields Ltd has filed a Red Herring Prospectus for a proposed initial public offering estimated at around Rs 9,500 crore.
The offering is an offer for sale of up to 66.18 crore shares by Coal India, which represents 10% of its stake in the subsidiary.
Because the issue is entirely an offer for sale, Mahanadi Coalfields will not receive proceeds from it.
The IPO is scheduled to open on November 19, 2026, according to Mint.
The proposed issue is subject to applicable approvals, market conditions and other relevant considerations.
- Who
- Mahanadi Coalfields Ltd, a wholly owned subsidiary of Coal India, filed the prospectus. Coal India is selling shareholder.
- What
- Mahanadi Coalfields filed a Red Herring Prospectus for a proposed IPO comprising an offer for sale of up to 66.18 crore shares.
- When
- The prospectus is dated November 13, 2026, and was filed on Saturday, November 14. The IPO is scheduled to open on November 19, 2026.
- Where
- The filing was made with the Registrar of Companies, SEBI, BSE and NSE.
- Why
- The IPO is part of Coal India's efforts to unlock value in its subsidiaries through stake sales and listings.
This story does not have two clearly opposing sides.
The Red Herring Prospectus was dated.
Mahanadi Coalfields filed the prospectus with the Registrar of Companies, SEBI, BSE and NSE.
Anchor investor bidding is scheduled to take place.
The IPO is scheduled to open.
The IPO is scheduled to close.
The company is expected to list.
- Estimated issue size
- Around Rs 9,500 crore
- Offer for sale
- Up to 66.18 crore shares
- Coal India's stake offered
- 10%
- IPO opening date
- November 19, 2026
- MCL coal production
- 218.31 million tonnes in FY26
2 sources
What people are saying
the Red Herring Prospectus (RHP) dated 13th November, 2026 of Mahanadi Coalfields Limited (MCL), a wholly owned subsidiary of Coal India Limited, was filed with RoC, SEBI, BSE and NSE.