Upcoming IPO: Coal India’s Mahanadi Coalfields gets Sebi nod for public issue; top things to know about PSU public offer

What happened: Mahanadi Coalfields Ltd, a Coal India subsidiary, received Sebi approval for its proposed IPO, with the issue expected in the second half of November or early December. Key numbers: IPO could raise up to $1 billion (about ₹8,800 crore) and value MCL at as much as $10 billion. Offer is an OFS of up to 66,18,36,300 shares by Coal India. Why it matters: The listing is part of Coal India's strategy to unlock value from its subsidiaries through capital markets, and the IPO could be one of India's biggest public issues in the remaining months of 2026.

Mahanadi Coalfields Ltd, a Coal India subsidiary, received Sebi approval for its proposed IPO, with the issue expected in the second half of November or early December.

The listing is part of Coal India's strategy to unlock value from its subsidiaries through capital markets, and the IPO could be one of India's biggest public issues in the remaining months of 2026.