Coal India has secured initial approval to list two of its major subsidiaries on the stock exchanges. The approval covers Mahanadi Coalfields Limited and South Eastern Coalfields Limited, marking a significant development in the company's strategic restructuring plans.

Strategic Restructuring Initiative

The listing approval represents a key milestone in Coal India's efforts to unlock value from its subsidiary operations. Both Mahanadi Coalfields and South Eastern Coalfields are among the company's prominent coal mining subsidiaries, contributing substantially to India's overall coal production capacity.

Subsidiary Operations Overview

The move to list these subsidiaries separately is expected to provide enhanced operational autonomy and improved market visibility for these individual business units.

Market Implications

The listing of these coalfield subsidiaries could potentially offer investors direct exposure to specific coal mining operations within Coal India's portfolio. This strategic decision aligns with broader trends in the mining sector where parent companies are exploring ways to optimize their subsidiary structures and enhance shareholder value.

Next Steps

With initial approval now secured, the company will likely proceed with the necessary regulatory and compliance procedures required for the actual listing process. The development underscores Coal India's commitment to strategic restructuring and operational efficiency improvements across its subsidiary network.

Coal India Limited has received in-principle approval from its Board of Directors for the listing of its wholly-owned subsidiary, South Eastern Coalfields Limited (SECL). The approval comes following a directive from the Ministry of Coal and represents a significant step in the company's subsidiary listing strategy.

Ministry Directive and Board Response

The Ministry of Coal, through its Office Memorandum dated December 16, 2025, had advised Coal India to take concrete steps to ensure further listing of subsidiaries, specifically MCL and SECL, in the upcoming financial year. In response to this directive, the Coal India Board has accorded in-principle approval for SECL's listing through a circular resolution.

Regulatory Process and Next Steps

The company has indicated that the in-principle approval will be communicated to the Ministry of Coal for onward submission to DIPAM (Department of Investment and Public Asset Management). This follows the established regulatory framework for public sector enterprise subsidiary listings.

The proposed listing of SECL remains subject to completion of various regulatory approvals, which is standard procedure for such corporate actions. The company has not specified a timeline for completing these regulatory requirements.

Strategic Context

The Ministry's directive encompasses both MCL and SECL subsidiaries, indicating a broader strategy for subsidiary listings within the Coal India group. This move aligns with the government's ongoing efforts to unlock value from public sector enterprises through strategic divestments and subsidiary listings.

Coal India Limited has formally communicated this development to both the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited as part of its regulatory disclosure obligations under Regulation 30.