New Delhi: In a move aimed at tightening governance and improving accountability, the Prime Minister’s Office has asked the Ministry of Coal to draw up a roadmap for listing all subsidiaries of Coal India Limited by 2030, sources said.
The plan is intended to streamline oversight, improve transparency and unlock value through asset monetisation at the coal public sector undertaking. Coal India accounts for more than 80% of India’s domestic coal production.
According to highly placed sources, there is a clear instruction from the PMO to ensure that every arm of Coal India is brought to the stock market within the decade. Coal India currently operates through eight subsidiaries, Eastern Coalfields Limited, Bharat Coking Coal Limited, Central Coalfields Limited, Western Coalfields Limited, South Eastern Coalfields Limited, Northern Coalfields Limited, Mahanadi Coalfields Limited and Central Mine Planning and Design Institute Limited.
Two subsidiaries, Bharat Coking Coal Limited and Central Mine Planning and Design Institute Limited, are expected to be listed by March 2026, with preparatory work already completed, sources said. The domestic and international roadshows for BCCL have been concluded, they added.
“The listing process for Bharat Coking Coal Limited is in full steam with absolutely no holds or delays,” sources said.
In a recent regulatory filing, Coal India said its board had approved the listing of South Eastern Coalfields Limited and Mahanadi Coalfields Limited. This follows a specific direction from the Ministry of Coal asking the company to take concrete steps to list these two major subsidiaries in the next financial year.
Bharat Coking Coal Limited had earlier filed its draft red herring prospectus with the Securities and Exchange Board of India for a proposed initial public offering. The DRHP relates to an offer for sale of up to 46.57 crore equity shares by Coal India. The company had said the IPO would be subject to regulatory approvals, market conditions and other factors.
Central Mine Planning and Design Institute Limited has also filed its DRHP with SEBI for an IPO through the offer-for-sale route.
Coal India Limited has set a production target of 875 million tonnes for the current financial year, even as it prepares for a phased listing of its subsidiaries over the coming years.
BI Bureau
