Coal India arm BCCL files draft paper for IPO; check details

State-owned CIL arm Bharat Coking Coal Ltd (BCCL) has filed draft papers with market regulator Sebi for its initial public offering.

"The draft red herring prospectus...of Bharat Coking Coal Ltd was filed with SEBI, BSE and NSE," CIL said in a filing to BSE. DRHP is a preliminary document that a company files with Sebi for a public offer.

“The DRHP filing pertains to the proposed initial public offering (IPO) of BCCL comprising an offer for sale of up to 465,700,000 equity shares by Coal India Limited, which remains subject to receipt of applicable approvals, market conditions, and other relevant considerations,” the company said.

BCCL, established with a mandate to mine and supply high-grade coking coal, plays a pivotal role in fuelling the nation's steel sector, which relies heavily on the company's coal for production and manufacturing processes.

The development comes days after CIL arm Coal Central Mine Planning & Design Institute Ltd (CMPDIL) filed draft papers with Sebi for its initial public offering.

Coal India accounts for over 80% of domestic coal output.

Last month, Coal India Director of Business Development Debasish Nanda had said that the DRHP for the initial public offering will be filed soon.

A DRHP is a preliminary document that a company files with market regulator Sebi for a public offer.

Meanwhile, the coal ministry had earlier said the listing of both firms—Bharat Coking Coal Ltd (BCCL) and Central Mine Planning and Design Institute (CMPDI)—will take place, but the timing will depend on market conditions.

On Friday, shares of Coal India had closed at ₹397.40 apiece on the National Stock Exchange, falling 0.20%.

The company had reported a 12% increase in its consolidated net profit at ₹9604.02 crore for the fourth quarter of the financial year 2024-25. Its profit for the same quarter last fiscal year was at ₹8,572.14 crore.

CIL’s revenue from operations for Q4 FY25, however, marginally declined by a percent to ₹37,824.54 crore as against ₹38,213.48 crore reported in the corresponding quarter last fiscal year.

Coal India’s earnings before interest, tax, depreciation, and amortisation (EBITDA) grew 4% to ₹11,790.15 crore for Q4 FY25 as compared to ₹11,387.59 crore in Q4 FY24.