New Delhi, Nov. 12 -- India's record-breaking IPO market could be heading for another blockbuster offering, with Coal India's subsidiary Mahanadi Coalfields preparing to enter the stock market after the massive public issues of Jio Platforms and the National Stock Exchange (NSE).

The proposed IPO could raise as much as $1 billion and value the state-owned coal producer at up to $10 billion, potentially making it one of India's biggest public offerings of 2026. The company has already cleared a key regulatory hurdle after receiving observations from the Securities and Exchange Board of India (Sebi) on November 4. With investor meetings reportedly underway and a possible launch in the second half of November or early December, Mahanadi Coa...