Coal India’s Mahanadi Coalfields Gets SEBI Approval for IPO

Coal India’s subsidiary, Mahanadi Coalfields Ltd (MCL), has received approval from the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO), according to a report published on November 5, 2026. Under the proposed offer, Coal India plans to sell up to 66.18 crore shares, representing a 10% stake in MCL. The issue will be an Offer for Sale (OFS), meaning the proceeds will go to Coal India rather than Mahanadi Coalfields. MCL is one of the country’s largest coal producers and operates primarily in Odisha. During FY26, it contributed approximately 21% of India’s domestic coal production and 28.4% of Coal India’s total output. The IPO could raise up to $1 billion, although the final issue size, price band and launch date have not yet been announced. The approval marks an important step in Coal India’s subsidiary monetisation strategy and could bring one of the country’s major coal-producing companies into the listed market. Disclaimer: The views expressed purely for educational and informational purposes and do not constitute financial advice or a recommendation to buy, sell, or hold any security