Mahanadi Coalfields Ltd (MCL), a wholly owned subsidiary of Coal India Ltd, is set to launch its initial public offering (IPO) on 19 November. The price band is yet to be announced, but market sources indicate that the company is likely to disclose it on 16 November. The issue will remain open for subscription until 23 November, according to the red herring prospectus (RHP).
MCL filed its RHP on Saturday, 14 November, for the proposed public issue. The document, dated 13 November, was submitted to the Registrar of Companies (RoC), the Securities and Exchange Board of India (SEBI), the BSE and the NSE, Coal India said in a regulatory filing.
Established in 1992, MCL produced 218.31 million tonnes (MT) of coal in FY26, accounting for around 22.4% of India's total non-coking coal production, according to a CRISIL report cited in the draft papers.
It is the largest coal-producing subsidiary of Coal India, contributing 28% to the state-owned company's overall output in FY26. Coal India, in turn, accounts for more than 80% of India's domestic coal production.
Mahanadi Coalfields IPO GMP today: Mahanadi Coalfields IPO GMP today is +7.75. This indicates Mahanadi Coalfields share price was trading at a premium of ₹7.75 in the grey market, according to investorgain.com. Mahanadi Coalfields IPO price band is yet to be announced.