Coal India Limited has informed the Exchange regarding 'In-principle approval for divestment up to 25% equity shares of Coal India Limited (CIL) in Mahanadi Coalfields Limited (MCL), a wholly owned subsidiary of Coal India Limited'.
COALINDIA · price
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On the reaction day the stock moved 4.9 pts less than Nifty 100 and 4.9 pts less 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 Board of Coal India Limited (CIL) has given in-principle approval to divest up to 25% of its equity stake in wholly owned subsidiary Mahanadi Coalfields Limited (MCL). The divestment will happen through an Offer for Sale (OFS), potentially in one or more tranches, via an Initial Public Offering (IPO) or other permissible market routes in India. This follows the board's earlier in-principle approval on 23.12.2025 for the listing of MCL. The proposal will now be sent to the Ministry of Coal (MoC) for onward submission to DIPAM (Department of Investment and Public Asset Management) for further approvals.
This is a value-unlocking exercise — listing MCL could unlock the subsidiary's standalone valuation and bring transparency, while CIL retains a controlling 75% stake. For CIL shareholders, successful listing of MCL could lead to a re-rating of CIL's stock as the market assigns separate value to the subsidiary, though actual benefit depends on listing price, timing, and regulatory clearances.