In December last year, the board of CIL had accorded in-principle approval for the listing of South Eastern Coalfields (SECL).
Accordingly, at the meeting held yesterday, CIL’s board has approved the divestment of up to 25% of equity shares held by Coal India in SECL through offer for sale (OFS), along with issuance of fresh equity shares of SECL aggregating up to 10% of the post issue paid-up equity share capital,
The proposed transaction would be executed in one or more tranches, through Initial Public Offer (IPO) or other permissible market routes in the domestic market.
The approved proposal would be routed through the Ministry of Coal for further processing with DIPAM. The completion of this transaction remains subject to regulatory approvals and customary formalities, CIL added.
State-run Coal India is mainly engaged in mining and production of coal and also operates coal washeries. The major consumers of the company are the power and steel sectors. Consumers from other sectors include cement, fertilizers, and brick kilns.
On a consolidated basis, Coal India (CIL)'s net profit declined 15.85% to Rs 7,157.45 crore while net sales declined 4.76% to Rs 30,818.17 crore in Q3 December 2025 over Q3 December 2024.
The scrip fell 2.50% to currently trade at Rs 444 on the BSE.