Coal India Confirms Ongoing Listing Process For Two Subsidiaries

Coal India Ltd. clarified on Tuesday that the listing process of its wholly-owned subsidiaries, Central Mine Planning and Design Institute Ltd. and Bharat Coking Coal Ltd., is underway. The company said in an exchange filing that book-running lead managers have been appointed through a tendering process, and a draft red herring prospectus (DRHP) is currently being prepared.

Following media reports stating that the subsidiaries’ listing process had begun with draft papers to be filed soon with the Securities and Exchange Board of India (SEBI), Coal India confirmed the reports. Speaking at the CII Mining and Construction Equipment Summit, Coal India Director of Business Development Debasish Nanda said, "We are going to file DRHP soon. We are working on that."

Further updates will be provided once the filings are made in accordance with applicable laws