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SECL starts IPO bank search for a possible ₹8,000 crore to ₹10,000 crore listing
The coal producer is expected to use a mix of a fresh issue and a Coal India offer for sale, with an initial tranche including at least 10% of Coal India holdings plus about 5% fresh equity from SECL.
South Eastern Coalfields Ltd, a subsidiary of Coal India Ltd, has started the process of hiring investment banks for a proposed initial public offering, according to a Mint Premium article reviewed by LiveMint Markets.
The IPO is expected to be structured as a mix of a fresh issue by SECL and an offer for sale by the parent company, with a likely size of about ₹8,000 crore to ₹10,000 crore. LiveMint Markets said SECL is seeking four to five bookrunning lead managers to structure and manage the public issue.
Coal India plans to divest up to 25% of its stake in SECL over time. LiveMint Markets reported that the first tranche would include an offer for sale of at least 10% of Coal India holdings, along with a potential fresh equity issuance of about 5% by SECL.
Prior to the offering, SECL’s equity shares with a face value of ₹1,000 apiece will be split into lower face value shares, the article said. LiveMint Markets added that SECL produced 176.2 million tonnes of coal in FY26, up 5.26%.