Upcoming IPO - South Eastern Coalfields Ltd submits DRHP for reported $800 million IPO

3 Nov 2026 , 11:34 AM

State-owned South Eastern Coalfields Ltd – a subsidiary of Coal India Ltd, has submitted draft prospectus documents to SEBI for its initial public offering, where it could raise up to $800 million.

The issue will reportedly be fully offered through sale. Coal India will offer up to 668.1 million shares. Since the offering is not a fresh issue no amount will be received by SECL.

SBI Capital Markets, ICICI Securities, IDBI Capital Markets & Securities, and Motilal Oswal Investment Advisors are the lead managers.

South Eastern Coalfields Ltd (SECL) is one of the largest subsidiaries of Coal India. The company has 60 coal mines spread across central India. Of the total, 35 are located in Chhattisgarh and 25 in Madhya Pradesh.

In the year ended March 31, 2026, SECL’s revenue stood at around Rs 330 billion ($3.7 billion). The company posted net income of Rs 47.55 billion. This represents healthy margins of around 14 percent of revenue.

This submission is part of Coal India’s plans to list some of its subsidiaries. Mahanadi Coalfields submitted draft papers with SEBI back in September. This also comes at a time when there has been a flurry of share sales in India as companies look to leverage increasing domestic capital.

Since this is a draft submission, details on the actual size, price range and timing of the issue are yet to be disclosed officially. Investors will be keen to see these details along with complete financial disclosures in the revised offer documents.