Synopsis: Coal India has filed the red herring prospectus for the IPO of its subsidiary Mahanadi Coalfields (MCL), dated 13 November 2026, with SEBI, the RoC, BSE and NSE. The issue is an offer for sale of up to 66,18,36,300 shares by Coal India, so the money raised goes to Coal India, not MCL.
Coal India Limited told the stock exchanges on 14 November 2026 that the red herring prospectus (RHP) of Mahanadi Coalfields Limited, its wholly owned subsidiary, has been filed with the Registrar of Companies, SEBI, BSE and NSE. The RHP is dated 13 November.
The IPO is an offer for sale (OFS) of up to 661,836,300 equity shares by Coal India. The filing does not mention a fresh issue. The offer remains subject to approvals, market conditions and other considerations, the company said.
What is still missing
The exchange filing does not give the price band, lot size or bidding dates. Those are normally announced in a separate price band advertisement a few days before the issue opens. Investors should check the RHP on the SEBI, BSE and NSE websites once it is available for the final terms.
Why it matters
Because this is a pure OFS, MCL receives no new capital. The proceeds go to Coal India, which keeps majority control of one of its biggest producing subsidiaries. That makes the issue as much about value-unlocking for Coal India shareholders as about MCL’s own growth.
Interest is already high: “Mahanadi Coalfields IPO” has been trending on Google in India over the past 24 hours. For another mainboard issue opening next week, see our report on the Crystal Crop Protection IPO.
Sources
- NSE filing: Coal India on filing of Mahanadi Coalfields RHP, 14 November 2026
- Coal India: company website
- SEBI
Disclaimer: This article is for information purposes only and is not investment advice.
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