South Eastern Coalfields, a Coal India subsidiary, files DRHP with SEBI for OFS-only IPO

Coal producer South Eastern Coalfields has filed its draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).

The proposed initial share sale is solely an offer for sale (OFS) of 668,056,100 equity shares by promoter Coal India, with no fresh issuance of shares.

Since there is no fresh issue component, the company will not get any proceeds from the public issue. The selling shareholder will get the entire amount.

"Our company expects that listing of the equity shares will enhance our visibility and brand image, provide liquidity and a public market for the equity shares in India," the company said in its preliminary papers.

SBI Capital Markets, IDBI Capital Markets & Securities, Motilal Oswal Investment Advisors and ICICI Securities are the issue's book-running lead managers. KFin Technologies serves as the registrar.

Of the net issue, 50% will be reserved for qualified institutional buyers (QIBs), 35% for retail investors and 15% for non-institutional investors.

The company's shares will be listed on the National Stock Exchange (NSE) and the BSE.

South Eastern Coalfields is one of the largest coal producers in India in terms of production in the financial year 2025-26, with production of 176.29 million tonnes of coal, accounting for 16.94% of domestic total coal production in FY26.

As of April 2026, the Bilaspur-based company's total coal geological resources were around 47.55 billion tonnes, reflecting 11.50% of India's total coal geological resources.

It is the second-largest coal producer among Coal India’s subsidiaries, accounting for 22.95% of the parent's total coal production in FY26. Its coal production advanced by 5.25% from 167.49 million tonnes in FY25 to 176.29 million tonnes in FY26, reflecting the highest production growth among Coal India's subsidiaries during the period.

The firm, as of September 2026, had 53 producing mines, consisting of 19 open-cast mines and 34 underground mines, across 12 operating areas within the Mand-Raigarh, Korba and Central India coalfields.