Coal India Plans Mahanadi Coalfields IPO
Coal India has filed draft papers to sell a 10% stake in its unit Mahanadi Coalfields through an initial public offering. The state-run miner is offloading up to 661.8 million shares in the subsidiary, which operates mainly in Odisha.
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COAL INDIA LTD is selling a 10% stake in its Mahanadi Coalfields unit through an IPO, offloading up to 661.8 million shares. The offering follows earlier listings of state-run subsidiaries in India as primary markets recover. Mahanadi Coalfields will not receive any proceeds from the offering of existing shares.
