Coal India share price rises as board approves listing of subsidiaries SECL and MCL

Coal India share price: Shares of state-owned coal producer Coal India rose on Wednesday, December 24, after the company's board of directors gave in-principle approval for the listings of two wholly-owned subsidiaries.

The stock rose 1% to ₹404.5 apiece on the National Stock Exchange (NSE) at 12:03 pm.

In separate regulatory filings on the stock exchanges on Tuesday, Coal India said its board of directors have given the go-ahead for Mahanadi Coalfields Ltd (MCL) and South Eastern Coalfields Ltd (SECL) to get listed.

The decision follows a specific directive from the Ministry of Coal to Coal India Ltd to initiate concrete steps to ensure the listing of two of its primary subsidiaries – MCL and SECL – within the next financial year.

The move is part of the central government’s broader strategy to unlock value in high-performing PSUs and enhance corporate transparency through public participation.

Bharat Coking Coal Ltd (BCCL) and the Central Mine Planning and Design Institute (CMPDI) are being considered for listing. BCCL had received formal approval from the markets regulator, the Securities and Exchange Board of India (SEBI), in this regard in September, officials said.

The approval accorded to SECL and MCL will now be forwarded to the Ministry of Coal for onwards submission to the Department of Investment and Public Asset Management. The proposed listing remains subject to a series of regulatory clearances from various authorities, they said.

SECL is among the most productive arms of Coal India, with 167 million tonnes of production in the 2024-25 fiscal year. Headquartered in Bilaspur, Chhattisgarh, it operates extensive mining projects in the state and Madhya Pradesh.

In recent years, the subsidiary has been at the forefront of technological modernisation, and the expansion of the Gevra project, one of the largest opencast coal mines in Asia, the officials added.