New Delhi: Mahanadi Coalfields Limited (MCL), a subsidiary of Coal India Limited (CIL), has initiated preparations for its proposed Initial Public Offering (IPO) by inviting proposals from financial and legal advisors. The move marks a significant step toward the company’s potential listing on the Indian stock exchanges.
According to industry sources, MCL is seeking experienced merchant bankers, legal consultants, and other transaction advisors to assist in the IPO process, including due diligence, regulatory compliance, valuation, and documentation. The appointment of advisors is expected to pave the way for the next stages of the public offering.
Mahanadi Coalfields is one of Coal India’s largest and most profitable subsidiaries, with major mining operations concentrated in Odisha. The company plays a crucial role in supplying coal to India’s power generation, steel, and industrial sectors.
A successful IPO would align with the government’s broader strategy of unlocking value in public sector enterprises while strengthening transparency and corporate governance. The listing could also provide investors with an opportunity to participate in one of India’s leading coal-producing companies.
While the timeline, issue size, and valuation of the IPO have not yet been disclosed, the invitation for proposals signals that MCL is actively moving forward with preparations for its anticipated entry into the capital markets.