Coal India's CMPDIL Files for IPO to Offer 7.14 Crore Shares
Coal Central Mine Planning & Design Institute Ltd (CMPDIL), a subsidiary of state-owned Coal India Ltd (CIL), has filed draft papers with SEBI for an initial public offering. The IPO consists purely of an offer for sale, with Coal India aiming to sell up to 71.4 million shares. The company's operations span coal exploration, mine planning, and environmental engineering, with no borrowings reported in the last financial year.
- Country:
- India
State-owned Coal India Ltd's (CIL) subsidiary, CMPDIL, has taken a significant step by filing draft papers with the market regulator SEBI for an initial public offering (IPO). This IPO will be an offer for sale, with CIL planning to divest up to 7.14 crore equity shares.
Coal Central Mine Planning & Design Institute Ltd (CMPDIL) specializes in consultancy services, covering coal exploration, mine planning, and environmental engineering. The move marks a strategic financial maneuver by Coal India, potentially facilitating the listing process for its subsidiaries BCCL and CMPDIL.
The financial outlook is promising for CMPDIL, with no recorded debts and substantial profits and revenue. To manage the IPO process, CMPDIL has enlisted the expertise of IDBI Capital Markets & Securities Ltd and SBI Capital Markets Ltd, ensuring the company's shares will trade on BSE and NSE.
(With inputs from agencies.)
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- Coal India
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- Market
- Offer for Sale
- Consultancy
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- Listing
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