IPO soon: Two subsidiaries of Coal India to file draft papers with SEBI

Two subsidiaries of Coal India Ltd, BCCL and CMPDI has initiated the process of listing and draft papers would be filed soon with SEBI, the company informed during the sidelines of CII Mining and Construction Equipment Summit.

Coal India Ltd (CIL) Director Business Development Debasish Nanda said, "We are going to file DRHP soon. We are working on that." Nanda further said that Book Running Lead Manager (BRLM) for the IPO has just been appointed.

Earlier, the coal ministry had informed that the listing of both firms—Bharat Coking Coal Ltd (BCCL) and Central Mine Planning and Design Institute (CMPDI)—will take place, but the timing will depend on market conditions.

Mr. Nanda has asserted that the company is working on critical minerals both in India and abroad and added that "with regard to critical mineral projects overseas, we are looking at South America, Australia and Africa."

He informed that it is working on three coal gasification projects, which are in different stages, and also on pithead power plants.

Further, the company is working on a 1,600 MW project in Odisha for which the land acquisition is in process. "We are hoping that Rs 16,000 crore would be the project cost (of the plant)." The company is also working on a similar power project with DVC, he said.

“CIL has just entered into a pact with DVC and will forward to sign JV with a 50:50." The capex target of the coal behemoth for the ongoing financial year is Rs 17,000 crore, he added.

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