Business
South Eastern Coalfields files draft for $800 million IPO
Business Standard·
Coal India unit South Eastern Coalfields has filed a draft prospectus with Sebi for an IPO. People familiar with the matter said the sale could raise as much as $800 million. Coal India plans to sell up to 668.1 million shares in an offer-for-sale with no fresh issue. The company operates 60 mines across Chhattisgarh and Madhya Pradesh.
Prism
What It Means For You
- Investors would buy existing Coal India shares; the subsidiary raises no fresh equity in this plan.
- Book runners include SBI Capital Markets, ICICI Securities, IDBI Capital and Motilal Oswal.
- Mahanadi Coalfields filed its own draft paperwork with the regulator in September.
What's Happening
- The draft was filed with the Securities and Exchange Board of India.
- Revenue was about Rs 33,000 crore for the year ended March 31, 2026, the prospectus showed.
- Net income was Rs 4,755 crore in that fiscal year.
How Large the Subsidiary Is
- Of the 60 mines, 35 are in Chhattisgarh and 25 are in Madhya Pradesh.
- The listing plan is part of Coal India's push to take some units public.
- The $3.7 billion revenue figure in the report matches the stated Rs 33,000 crore total.
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