Coal India Limited has informed the Exchange regarding 'Alternative Mechanism(AM) approval for Listing of Mahanadi Coalfields Limited (MCL) through fresh issue of equity shares and disinvestment of Coal India Limited (CIL) equity in MCL, through public offering to the extent of 25% of CIL s stake in MCL in the domestic market as per SEBI Rules and Regulation'.
COALINDIA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved in line with Nifty 100 and 0.3 pts more than its Oil Gas & Consumable Fuels peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Alternative Mechanism (AM) has approved Coal India's proposal to list its subsidiary Mahanadi Coalfields Limited (MCL) through an IPO. Under this approval, MCL can raise capital through fresh equity issuance while Coal India can divest up to 25% of its stake via Offer for Sale (OFS). The disinvestment and capital raising may be done simultaneously or in multiple tranches. The listing remains subject to prevailing market conditions and completion of all statutory and regulatory formalities. This move is part of the government's disinvestment strategy for its PSU subsidiaries.
For Coal India shareholders, this listing could unlock value from its MCL subsidiary while reducing government stake. MCL, as a profitable coal mining entity, represents a quality listing candidate for retail and institutional investors seeking exposure to the coal sector.