New Delhi, Sept. 2 -- State-owned coal mining and refining company Coal India is planning to sell a 10 per cent stake in Mahanadi Coalfields (MCL) through the fully owned subsidiary's initial public offering (IPO), as per the draft papers filed with Securities and Exchange Board of India (SEBI).

As per an exchange filing, the PSU is planning to sell up to 66.18 crore shares of MCL, representing a 10 per cent stake in the company. According to the draft red herring prospectus (DRHP), each share has a face value of Rs 2, and the proposed issue will comprise entirely an offer for sale (OFS).

"Pursuant to Regulation 30 of the SEBI LODR, 2015, it is hereby informed that the draft red herring prospectus dated 1st September, 2026 of Mahanadi C...