Economy
Coal India Shares Jump 4% Following Mahanadi Coalfields IPO Filing
Moneycontrol1h
THE BRIEF
1
Coal India shares surged 4% to become the top Nifty gainer after the company filed draft papers for the IPO of its subsidiary, Mahanadi Coalfields.
2
The IPO will involve the sale of a 10% stake, with over 60 crore shares on offer, as the company aims to complete the process by the end of FY26.
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The move reflects strong domestic coal demand and is expected to unlock significant value for shareholders while bolstering the parent company's capital reserves.