Coal India Plans SECL And MCL IPOs By End Of FY27

Coal India Limited is aiming to complete the initial public offerings of its two major subsidiaries, South Eastern Coalfields Limited (SECL) and Mahanadi Coalfields Limited (MCL), within FY27, Chairman and Managing Director B Sairam said on 31 August 2026.

When Will SECL And MCL IPOs Be Completed?

Coal India has set a target of completing the IPOs of SECL and MCL during the current financial year ending March 2027. Sairam said the company remains committed to the plan, although no specific date or month has been finalised.

The IPO process will move ahead based on prevailing market conditions and necessary approvals from the government.

What Is The Proposed Structure Of The IPOs?

Coal India's board had already granted in-principle approval in March 2026 for divesting up to a 25% equity stake each in SECL and MCL through the offer-for-sale route.

Furthermore, SECL has the right to allot new equity shares equivalent to as much as 10% of its post-issue paid-up capital, alongside the IPO offer. These listing initiatives are part of Coal India's broader plan to unlock value from its subsidiary companies and to enable them to raise capital directly via the market.

Earlier this year, Coal India had successfully listed Bharat Coking Coal Limited (BCCL) and Central Mine Planning and Design Institute Limited (CMPDI). BCCL was listed in January after a 10% stake sale that was subscribed nearly 147 times. CMPDI was listed on 30 March 2026 following a 15% stake sale.

Why Are SECL And MCL Important To Coal India?

SECL and MCL are among Coal India's largest subsidiaries by coal production and together accounted for nearly half of the company's production in FY26.

Mahanadi Coalfields produced 218.31 million tonnes of coal during FY26 and reported the highest profit after tax among Coal India subsidiaries at ₹10,698 crore. South Eastern Coalfields produced 176.29 million tonnes and posted a profit after tax of ₹4,755 crore during the same financial year.

Their scale makes the proposed IPOs an important part of Coal India's subsidiary value-unlocking programme.

Coal India shares will remain in focus as the company progresses with the proposed IPOs of SECL and MCL during FY27. The listed parent company is also expanding into renewable energy, coal gasification, iron ore and critical minerals alongside its core coal business, providing multiple developments that investors may track with the share price.

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