Mahanadi Coalfields Files Prospectus for Rs 9,500 Crore IPO
Coal India plans to sell up to 10% of its subsidiary through an offer for sale, subject to approvals and market conditions.
Key takeaways
- Mahanadi Coalfields filed its red herring prospectus on November 13.
- The proposed offer for sale covers up to 66.18 crore shares and is estimated at around Rs 9,500 crore.
Mahanadi Coalfields has filed a red herring prospectus for a proposed initial public offering estimated at around Rs 9,500 crore, Coal India said in a regulatory filing.
The filing, dated November 13, covers an offer for sale of up to 66.18 crore shares by Coal India. The shares represent 10% of its stake in the subsidiary.
The proposed IPO remains subject to applicable approvals, market conditions and other relevant considerations, the filing said. Coal India said the offer is part of efforts to unlock value in its subsidiaries through stake sales and listings.
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