Coal India clears path for IPOs of MCL and SECL after board approval

Coal India has moved closer to unlocking value from its subsidiaries after the board granted in-principle approval for the listing of Mahanadi Coalfields and South Eastern Coalfields. The decision follows preparations for the Bharat Coking Coal IPO and will now be forwarded to the coal ministry and DIPAM. Mahanadi Coalfields, one of Coal India’s largest producers, recorded 225 million tonnes of output and ₹36,606 crore revenue in FY25, while SECL produced 167 million tonnes with revenue of ₹35,871 crore. The move signals a broader monetisation push.