Overview
- Coal India's board granted in-principle approval to list South Eastern Coalfields and will route the proposal through the Coal Ministry to DIPAM, with SEBI and other regulatory clearances still required.
- Multiple outlets citing stock exchange disclosures report that Mahanadi Coalfields also received an in-principle nod for listing.
- The stock rose about 3% to roughly ₹412 on Wednesday, marking a seven-month high and a sixth straight session of gains.
- The step follows a Coal Ministry advisory calling for listings of SECL and MCL in the next financial year under a value-unlocking program for public sector enterprises.
- SECL, a leading producer investing in paste-fill mining via a ₹7,040 crore agreement with TMC Mineral Resources, advances modernization as BCCL readies a reported ₹1,300 crore OFS-only IPO cleared by SEBI in September.