Sebi has approved Mahanadi Coalfields' IPO which could raise $1 billion | Image: Bloomberg
India's capital markets regulator has approved state-run miner Coal India's unit Mahanadi Coalfields' IPO, in what is expected to be one of India's biggest offerings this year.
Earlier in September, draft papers filed with the markets regulator showed the parent Coal India, which is the world's largest coal producer, was selling a 10% stake in Mahanadi Coalfields through the unit's IPO.
Coal India is selling up to 661.8 million shares of its unit, the draft prospectus showed.
The unit operates primarily in eastern Odisha and accounted for 21% of India's overall domestic coal production and 28.4% of Coal India's total coal production in fiscal year 2026.