Draft papers for two CIL arms’ IPO to be filed soon: Official
NEW DELHI, May 19: The process of listing of two subsidiaries of Coal India Ltd – BCCL and CMPDI – has begun and draft papers would be filed soon with Sebi, the company on Monday said.
Speaking to reporters on 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.”
DRHP is a preliminary document that a company files with markets regulator Sebi for a public offer.
Nanda further said that Book Running Lead Manager (BRLM) for the IPO has just been appointed.
The coal ministry had earlier said 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.
Coal India has seven coal-producing subsidiaries and one technical and consultancy company. The company accounts for over 80 per cent of the domestic coal production.
It reported 12 per cent year-on-year rise in consolidated net profit at Rs 9,604.02 crore for the quarter ended March 2025 on the back of higher income. Total income during the January-March period rose to Rs 41,761.76 crore from Rs 40,457.59 crore a year ago.
Total expenses increased to Rs 29,057.30 crore from Rs 28,950,41 crore earlier.
Coal production by CIL was almost flat at 62.1 million tonnes (MT) in April as compared to the year-ago period.
In 2024-25, CIL produced 781.1 MT of coal, nearly seven per cent less than the company’s target for the financial year. The company is targeting a production of 875 MT and offtake of 900 MT in 2025-26 fiscal year. (PTI)
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