SECL IPO News, Coal India Plans To Sell 66.81 Crore Shares As Subsidiary Files Draft Papers With SEBI

Mumbai: South Eastern Coalfields Ltd (SECL), a subsidiary of state-owned Coal India Ltd, has filed draft papers with the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO).

According to the Draft Red Herring Prospectus (DRHP) dated November 1, the public issue will comprise an Offer for Sale (OFS) of up to 66.81 crore equity shares by Coal India.

IPO Details

The proposed SECL IPO will not include any fresh equity issuance. Therefore, the company will not receive funds from the offering, with the proceeds going entirely to its promoter, Coal India. The IPO price band, issue size in rupee terms and subscription dates have not yet been announced.

Coal Production

Established in 1985, Bilaspur-based SECL is among India's largest coal producers. The company produced 176.29 million tonnes of coal during FY26, accounting for 16.94 per cent of India's total coal production. Its output increased 5.25 per cent from 167.49 million tonnes in FY25. SECL contributed 22.95 per cent to Coal India's overall production, making it the group's second-largest coal-producing subsidiary.

Financial Performance

SECL reported revenue from operations of ₹16,593.7 crore during the six months ended September 2026, compared with ₹15,090.2 crore a year earlier. Net profit increased to ₹2,174.3 crore from ₹1,140.9 crore during the corresponding period. For FY26, revenue stood at ₹32,956.5 crore, while net profit reached ₹4,754.5 crore.

Mining Operations

As of September 30, SECL operated 53 producing mines, including 19 opencast and 34 underground mines. Its Gevra and Kusmunda mines in Chhattisgarh rank among the world's largest coal mines. The company reported audited coal reserves of 4.61 billion tonnes.

Listing Pipeline

SECL joins other Coal India subsidiaries pursuing stock market listings. Mahanadi Coalfields filed IPO papers in September, while Bharat Coking Coal launched its public offering earlier this year.

Disclaimer: This article is based on the company's draft IPO documents and reported financial information. Investors should review official disclosures.