Coal India Ltd Gears Up for Major Subsidiary Listings Amid Growth Plans

Coal India Ltd (CIL) is moving forward with plans to list its subsidiaries, Bharat Coking Coal Ltd (BCCL) and Central Mine Planning and Design Institute (CMPDI), on the stock market. According to CIL Director Business Development, Debasish Nanda, draft documents will be filed shortly with SEBI, the securities market regulator.

Speaking at the CII Mining and Construction Equipment Summit, Nanda revealed that a Book Running Lead Manager (BRLM) has been appointed for the impending IPO. He also mentioned that the timing of the subsidiaries’ listing will depend on prevailing market conditions.

In addition to the listing, CIL is working on international projects related to critical minerals in regions such as South America, Australia, and Africa, although specific partners remain undisclosed. Domestically, the company is developing three coal gasification projects and a significant power project in Odisha, with plans to sign a joint venture with DVC. The company's financials have seen improved profit margins, bolstered by higher income figures.

(With inputs from agencies.)