South Eastern Coalfields Limited (SECL) has filed draft papers for an initial public offering of existing shares held by parent Coal India, a transaction that would send any proceeds to the parent.
The draft red herring prospectus, dated Nov. 1, covers up to 668,056,100 shares with a face value of ₹2 each. In a Nov. 2 disclosure, Coal India said the filing had been submitted to the Securities and Exchange Board of India (SEBI), BSE and the National Stock Exchange of India.
The filing names Coal India as the seller, and the proposed offer contains no SECL share issuance. Any sale proceeds therefore would go to the parent rather than add capital to the subsidiary.
Bloomberg reported that the sale could raise as much as $800 million, citing people familiar with the matter. Coal India’s disclosure did not state that estimate or provide a price band, rupee proceeds figure or opening date.
SECL produced 176.29 million tonnes of coal in the financial year ended March 31, 2026, Coal India’s annual report says. The report lists SECL’s revenue at ₹32,957 crore and profit after tax at ₹4,755 crore. The Ministry of Coal separately reported production of 176.2 million tonnes, up 5.26% from the previous financial year.
A separate draft prospectus from another Coal India subsidiary, Mahanadi Coalfields Limited, is dated Aug. 31, 2026.
Coal India said: “The proposed IPO remains subject to receipt of applicable approvals, prevailing market conditions, and other relevant considerations.”
