Coal India Board Approves In Principle Listing of MCL and SECL

26 Dec 2025 , 10:32 AM

Coal India on December 23 said its board has given in principle approval to initiate the listing process for two of its key subsidiaries, Mahanadi Coalfields Limited and South Eastern Coalfields Limited. The move is aimed at unlocking value and expanding Coal India’s presence in the capital markets.

The company said the proposed listing of MCL and SECL will be subject to multiple statutory and regulatory approvals and will be carried out in line with applicable government and market norms. The development follows a directive issued by the Ministry of Coal on December 16, which advised Coal India to take concrete steps to facilitate the listing of the two subsidiaries in the financial year 2027.

South Eastern Coalfields Limited is a Mini Ratna public sector enterprise with coal reserves spread across Chhattisgarh and Madhya Pradesh. The subsidiary plays a significant role in meeting domestic coal demand.

A total of 73 major coal projects have been approved for SECL with an ultimate production capacity of 30.28 crore tonnes per annum and a sanctioned capital outlay of Rs 44,571 crore.

Of these projects, 30 are currently under implementation, 38 projects have been completed, and five underground blocks continue to operate as existing mines. SECL produced 16.75 crore tonnes of coal during the financial year 2024 25, highlighting its position as one of the largest coal producing subsidiaries of Coal India.

Mahanadi Coalfields Limited was carved out of South Eastern Coalfields Limited in 1992 and is headquartered in Sambalpur, Odisha. The subsidiary received Mini Ratna status in 2019, providing greater operational and financial autonomy. Coal India shares ended nearly 4 percent higher at Rs 400.65 earlier in the day after reports suggested that one of its subsidiaries was preparing to launch an initial public offering.

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