Coal India unit Mahanadi Coalfields gets Sebi nod for IPO

Capital markets regulator Sebi has approved the initial public offering (IPO) of Sambalpur, Odisha-based Mahanadi Coalfields , a subsidiary of the state-run miner Coal India. The transaction involves the sale of up to 661.8 million shares, representing a 10% equity stake in the company.Founded in 1992, Mahanadi Coalfields is a contributor to India’s domestic coal production. In the fiscal year 2026, the company accounted for 21% of India’s overall domestic coal output and 28.4% of the total coal production of its parent firm, Coal India.The company plans to use the IPO to facilitate the divestment of the 10% stake by Coal India. The offering is expected to raise about USD 1 Billion and is projected to value the unit at USD 10 Billion.