AM approval for listing of MCL
COALINDIA · price
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The government has approved Coal India's proposal to list its subsidiary Mahanadi Coalfields Limited (MCL) on the stock exchange. The approval from the Alternative Mechanism (AM) allows CIL to sell up to 25% of its stake in MCL through an Offer for Sale (OFS) mechanism, while MCL can also raise fresh capital through equity issuance as part of the IPO. The disinvestment and capital raising can happen together or in separate tranches, subject to market conditions and regulatory approvals. This marks a significant step toward bringing MCL to the public markets.
Coal India shareholders may benefit from unlocking value in its subsidiary through this partial stake sale, though the actual impact on CIL's stock will depend on the final offer price and market reception for the MCL listing.