To improve governance and accountability, the Prime Minister's Office (PMO) has directed the coal ministry to map and list all the subsidiaries of state-run CIL by 2030, sources said.
The move aims to streamline governance, enhance transparency and unlock value through asset monetisation in the coal PSU. Coal India Ltd (CIL) accounts for over 80 per cent of domestic coal output.
There are plans to list all of Coal India's subsidiaries by 2030, highly placed sources said on the condition of anonymity.
There is an instruction from PMO to list all the arms of Coal India by 2030 to improve the company's governance, sources said.
CIL operates through eight subsidiaries, namely Eastern Coalfields Ltd, Bharat Coking Coal Ltd, Central Coalfields Ltd, Western Coalfields Ltd, South Eastern Coalfields Ltd, Northern Coalfields Ltd, Mahanadi Coalfields Ltd and Central Mine Planning & Design Institute Ltd.
BCCL and Central Mine Planning & Design Institute Ltd are set to be listed on stock exchanges by March 2026, with all preparations completed, sources said.
The domestic and international roadshows of BCCL are completed, they added.
The listing process for Bharat Coking Coal Ltd is in full steam with absolutely no holds or delays, sources explained.
In a regulatory filing to the exchanges recently, Coal India said its board of directors had given the go-ahead for South Eastern Coalfields Ltd and Mahanadi Coalfields to be listed.
The decision follows a specific directive from the Ministry of Coal to CIL to initiate concrete steps to ensure the listing of two of its primary subsidiaries, Mahanadi Coalfields Ltd and SECL, within the next financial year.
Bharat Coking Coal Ltd, a few months back, filed its draft red herring prospectus (DRHP) with capital market regulator SEBI for its proposed initial public offering.
In a regulatory filing, CIL had said the DRHP, pertains to an offer for sale (OFS) of up to 46.57 crore equity shares by Coal India. The IPO remains subject to receipt of necessary approvals, market conditions, and other considerations, it had added.
Central Mine Planning and Design Institute Ltd had also filed its DRHP with SEBI for its proposed IPO via the offer-for-sale route.
Coal India Ltd is targeting a production of 875 million tonnes for the current financial year.