Coal India stated that its board of directors has approved the listing of Mahanadi Coalfields Ltd. (MCL) and South Eastern Coalfields Ltd. (SECL) in separate regulatory filings on the public exchanges.
Coal India Share Price Surges on SECL and MCL Listing Announcement
Coal India share price: Following the board of directors’ in-principle approval of the listings of two wholly-owned subsidiaries, shares of the state-owned coal miner Coal India increased on Wednesday, December 24.
At 9:27 a.m., the stock increased 2.9% to ₹412 per share on the National Stock Exchange (NSE).
Coal India stated that its board of directors has approved the listing of Mahanadi Coalfields Ltd. (MCL) and South Eastern Coalfields Ltd. (SECL) in separate regulatory filings on the public exchanges on Tuesday.
The Ministry of Coal specifically instructed Coal India Ltd. to take proactive measures to guarantee the listing of two of its main subsidiaries, MCL and SECL, within the upcoming fiscal year.
The action is a component of the central government’s larger plan to increase corporate transparency through public involvement and unlock wealth in high-performing PSUs.
The Central Mine Planning and Design Institute (CMPDI) and Bharat Coking Coal Ltd (BCCL) are being evaluated for listing. The Securities and Exchange Board of India (SEBI), which regulates the markets, officially approved BCCL in this regard in September, according to officials.
The Ministry of Coal will now receive the approval granted to SECL and MCL and submit it to the Department of Investment and Public Asset Management. They stated that a number of regulatory permits from different authorities are still pending for the proposed listing.
With 167 million tonnes produced in the 2024–2025 fiscal year, SECL is one of Coal India’s most prolific divisions. It runs large mining projects in Madhya Pradesh and the state of Chhattisgarh, with its headquarters located in Bilaspur.
According to the officials, the subsidiary has been at the forefront of technological modernization and the growth of the Gevra project, which is one of Asia’s biggest opencast coal mines. Using PTI inputs.
