New Delhi, Nov. 14 -- Coal India subsidiary Mahanadi Coalfields Ltd (MCL) has filed its Red Herring Prospectus (RHP) for its proposed initial public offering, bringing the public issue closer to launch. The IPO will give investors an opportunity to buy into one of India's largest coal producers, while allowing Coal India to unlock value from the subsidiary through a partial stake sale.

Coal India disclosed the development in an exchange filing on Saturday, November 14. It said, "the Red Herring Prospectus (RHP) dated 13th November, 2026 of Mahanadi Coalfields Limited (MCL), a wholly owned subsidiary of Coal India Limited, was filed with RoC, SEBI, BSE and NSE."

The IPO is scheduled to open on November 19.

Coal India plans to divest up ...