“As directed by the government, we would enter the market and look forward to unlocking the true potential of our companies. We will closely study and assess the market dynamics for listing the companies,” Sairam said in an interview to PTI.BCCL is expected to hit the stock exchanges on Monday.
Referring to the BCCL IPO issue, Sairam said the “response has been encouraging and has strengthened confidence within the miner”.
“With an overwhelming response, BCCL’s IPO resulted in full subscription within minutes of its opening. Strong investor interest continued unabated till the close of the offer with the issue being subscribed over 146 times. It is a real confidence booster for CIL,” the CIL chief told PTI.
Sairam said the experience would be useful as Coal India considers future listings, while underlining that valuation and market conditions would remain important considerations. “For any company, it is a good idea to look at its market valuation. Stimulated by that (BCCL IPO), we expect a similar response for our other companies too,” he added.
The government has encouraged Coal India to unlock value by listing its subsidiaries as part of the Centre’s broader public sector reform agenda.
The coal giant has eight wholly owned subsidiaries, seven of which are coal-producing companies.
In addition to listing its coking coal business, CIL is also accelerating the capital market debuts of other key subsidiaries.
Central Mine Planning and Design Institute Ltd (CMPDI), the consultancy and technical arm of Coal India, has already filed its draft prospectus with the Securities and Exchange Board of India.
The proposed IPO is an offer for sale of up to 7.14 crore equity shares, representing a 10 percent divestment by CIL, and is expected to be completed by March 2026.
The CIL board has also given in-principle approval for the listing of Mahanadi Coalfields Ltd (MCL) and South Eastern Coalfields Ltd (SECL), two of its largest manufacturing subsidiaries.
Their listings are for the financial year 2026-27, as per a specific directive from the Coal Ministry.
Coal India, which accounts for over 80 percent of India’s domestic coal production, has several producing and non-producing subsidiaries.
Meanwhile, BCCL’s much-awaited market debut has been moved from its original listing date of January 16 to January 19.
The decision to postpone the listing comes in the wake of the municipal elections in Maharashtra, where both the BSE and the National Stock Exchange (NSE) are headquartered.
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