Coal India has filed draft red herring prospectuses for the IPO of its subsidiary, Mahanadi Coalfields, involving an offer for sale of over 66 crore shares.
The company aims to reach a total coal production target of 815 million tons for the 2026-2027 fiscal year through expanded operational capacity.
This IPO is part of a broader strategy to unlock value in Coal India's subsidiaries, with another issue for South Eastern Coalfields expected by year-end.