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Informist, Wednesday, Sept. 9, 2026

--Source: NLC India Renewables to list in FY27

 

By Astha Oriel and Gunjan Rajput

 

NEW DELHI – The listing of Eastern Coalfields Ltd., Northern Coalfields Ltd., and Central Coalfields Ltd. are in the pipeline, a senior government official told Informist. Eastern Coalfields, Eastern Coalfields, and Central Coalfields are the subsidiaries of Coal India Ltd. However, the listing of the three subsidiaries will not take place in the financial year 2026-27 (Apr-Mar), according to the official. On the other hand, NLC India Renewables Ltd., which is a subsidiary of NLC India Ltd., will list this financial year, the official said.

 

"Eastern is not there this year...We will have a definite pipeline going forward," the official said. Of the eight Coal India subsidiaries, Mahanadi Coalfields Ltd. and South Eastern Coalfields Ltd. will be listed this financial year. Notably, the government is planning to list Mahanadi Coalfields first, followed by South Eastern Coalfields and NLC India Renewables in that order, according to the official. 

 

When asked about the size of the stake that Coal India intends to offload in Mahanadi Coalfields, the official said the government will take the call after observing the market sentiment. "MCL (Mahanadi Coalfields) is about INR 9000 crore (INR 90 billion) IPO (initial public offering). So, we will take a call. Right now, DRHP (draft red herring prospectus) has been filed. After this, road shows will take place. So, we will get an idea of the appetite which the market has," the official said. 

 

Earlier this month, Mahanadi Coalfields filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering consisting entirely of an offer for sale. Promoter Coal India Ltd. will offload 661.84 million shares at a face value of INR 2 apiece for the offer. As of FY26, the company was the largest coal producer in the country with a production of 218.31 million tonnes, which makes up over 22% of the country's total non-coking coal production. For FY26, Mahanadi Coalfields reported revenue of INR 305.50 billion and profit of INR 106.98 billion. South Eastern Coalfields reported revenue of INR 329.57 billion and profit of INR 47.55 billion. 

 

South Eastern Coalfields has not yet filed papers with the Securities and Exchange Board of India. The subsidiary's FY26 production was 176.29 million tonnes. For FY26, South Eastern Coalfields reported revenue of INR 329.57 billion and profit of INR 47.55 billion. Coal India, in which the government has a 61% stake, produced 768.19 million tonnes in FY26.

 

 

Coal India's two subsidiaries, Bharat Coking Coal Ltd. and Central Mine Planning and Design Institute Ltd., were listed in FY26. While Coal India offloaded a 10% stake in Bharat Coking Coal, it divested a 15% stake in Central Mine Planning and Design Institute.  End

 

Edited by Akul Nishant Akhoury

 

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