State-run Coal India will launch investor roadshows in the next one to two months for the proposed initial public offerings (IPOs) of its subsidiaries, Bharat Coking Coal Limited (BCCL) and Central Mine Planning and Design Institute (CMPDI). The move is aimed at gauging investor appetite ahead of filing the Red Herring Prospectus later this year. Coal India confirmed that draft papers for the IPOs had been submitted earlier this year, with CMPDI filing in May 2025 and BCCL in June 2025. The share sale will be through an offer for sale route, with no fresh issue of shares. The plan involves offloading up to 7.14 crores shares of CMPDI and up to 46.57 crores shares of BCCL. The proposed listing is expected to cover 10 to 25 percent of the value of each subsidiary.
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RHP Filing Expected by November
Addressing shareholders at Coal India’s annual general meeting, Chairman and Managing Director P.M. Prasad said that the Red Herring Prospectus for both subsidiaries is likely to be filed by November 2025, subject to Government approvals. “During the roadshow we will see the market appetite and all,” he added.
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Part of Broader Disinvestment Strategy
The IPOs are part of the Government’s larger disinvestment agenda for public sector undertakings. Listing of BCCL and CMPDI is expected to not only unlock value but also widen retail participation in coal-linked companies. Market experts believe the roadshows will provide an early indication of investor sentiment amid a mixed outlook for the coal sector.
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