Coal India unit South Eastern Coalfields files for IPO
The state-run subsidiary plans to sell up to 66.81 crore shares through an offer for sale.
South Eastern Coalfields Ltd (SECL), a subsidiary of state-owned Coal India Ltd, has submitted preliminary papers to the Securities and Exchange Board of India (Sebi) to launch an initial public offering (IPO), according to reports by Mint, Moneycontrol and Business Standard.
The proposed issue is an offer for sale (OFS) of up to 66.81 crore equity shares by the promoter, Coal India. There will be no fresh issue of shares, meaning SECL will not receive any proceeds from the offering.
The IPO could raise as much as $800 million, according to Bloomberg, citing people familiar with the matter. The entire amount raised will go to Coal India as it dilutes its stake in the subsidiary.
SECL reported revenue of approximately ₹33,000 crore and a net income of ₹4,755 crore for the fiscal year ended March 31, 2026. For the six months ended September 30, 2026, the company's revenue rose to ₹16,593.7 crore from ₹15,090.2 crore in the previous year, while net profit increased to ₹2,174.3 crore from ₹1,140.9 crore.
Headquartered in Bilaspur, Chhattisgarh, SECL is the second-largest coal-producing subsidiary of Coal India. The company operates 53 producing mines as of September 30, 2026, across 13 operating areas.
SBI Capital Markets, ICICI Securities, IDBI Capital Markets & Securities and Motilal Oswal Investment Advisors have been appointed as the book-running lead managers. KFin Technologies will serve as the registrar for the issue.
