ewsba.se
Mahanadi Coalfields Ltd (MCL), a wholly owned subsidiary of Coal India Ltd, is set to launch its initial public offering (IPO) on 19 November. The price band is yet to be announced, but market sources indicate that the company is likely to disclose it on 16 November. The issue will remain open for subscription until 23 November, according to the red herring prospectus (RHP).
MCL filed its RHP on Saturday, 14 November, for the proposed public issue. The document, dated 13 November, was submitted to the Registrar of Companies (RoC), the Securities and Exchange Board of India (SEBI), the BSE and the NSE, Coal India said in a regulatory filing.
Established in 1992, MCL produced 218.31 million tonnes (MT) of coal in FY26, accounting for around 22.4% of India's total non-coking coal production, according to a CRISIL report cited in the draft papers.
It is the largest coal-producing subsidiary of Coal India, contributing 28% to the state-owned company's overall output in FY26. Coal India, in turn, accounts for more than 80% of India's domestic coal production.
The proposed listing is part of Coal India's strategy to unlock value from its subsidiaries through public-market listings. The state-owned miner has already listed two subsidiaries this year — Bharat Coking Coal Ltd (BCCL) in January and Central Mine Planning & Design Institute Ltd (CMPDI) in March.
Mahanadi Coalfields IPO GMP today: Mahanadi Coalfields IPO GMP today is +7.75. This indicates Mahanadi Coalfields share price was trading at a premium of ₹7.75 in the grey market, according to investorgain.com. Mahanadi Coalfields IPO price band is yet to be announced.
Mahanadi Coalfields IPO price band: The price band has yet to be announced, and according to market sources, it is likely to be announced tomorrow, 16 November.
Mahanadi Coalfields IPO date: The issue opens for subscription on Thursday, 19 November, and closes on Monday, 23 November.
Mahanadi Coalfields IPO lot size: The IPO lot size is yet to be known.
Anchor investors: The allocation to anchor investors for the Mahanadi Coalfields IPO is scheduled for Wednesday, 18 November.
Mahanadi Coalfields IPO details: The proposed IPO is an OFS (Offer for Sale) of up to 66.18 crore equity shares by Coal India (10% of the subsidiary's stake), which is expected to raise around ₹9,500 crore.
The proposed public issue is still subject to receipt of the requisite approvals, market conditions and other relevant factors, the filing states.
Mahanadi Coalfields IPO objective: The IPO is part of Coal India's efforts to realise value in its subsidiaries by selling stakes and listing them on stock exchanges.
Mahanadi Coalfields IPO listing date and allotment details: The basis of allotment for the Mahanadi Coalfields IPO is expected to be finalised on Wednesday, 25 November. Successful bidders are likely to receive shares in their demat accounts on Thursday, 26 November, while refunds for unsuccessful applicants are also expected to be initiated the same day. The Mahanadi Coalfields share price is scheduled to make its stock market debut on the BSE and NSE on Friday, 27 November, subject to the completion of the allotment process.
Lead Manager and Registrar of Mahanadi Coalfields IPO: SBI Capital Markets, Axis Capital, BOB Capital Markets, IDBI Capital Markets & Securities and IIFL Capital Services Ltd are the book-running lead managers. Kfin Technologies Ltd is the registrar of the issue.
Mahanadi Coalfields IPO reservation: IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
Catch all the Business News , Market News , Breaking News Events, JIO IPO Listing Today LIVE and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.