New Delhi, May 27 (PTI) State-owned CIL on Tuesday said its arm Coal Central Mine Planning & Design Institute Ltd (CMPDIL) has filed draft papers with markets regulator Sebi for its initial public offering.
The issue will be entirely an offer for sale, as CMPDIL will not issue any fresh shares. Coal India Ltd (CIL) plans to sell up to 7.14 crore shares.
"The draft red herring prospectus dated May 26, 2025 of CMPDIL, a wholly- owned subsidiary of Coal India Limited, was filed with SEBI, BSE and NSE," Coal India said in a BSE filing.
CMPDIL renders its consultancy services to CIL and its subsidiaries in the areas of coal exploration, mine planning & design, coal beneficiation and utilisation, allied engineering services, environmental engineering, information and communication technology, and laboratory services, field services, etc.
"The DRHP filing pertains to the proposed initial public offering (IPO) of CMPDIL comprising an offer for sale of up to 71,400,000 equity shares by Coal India Limited, which remains subject to receipt of applicable approvals, market conditions, and other relevant considerations," the filing said.
A few days back CIL had said that the process of listing of two subsidiaries of Coal India Ltd - BCCL and CMPDIL - has begun and draft papers would be filed soon with Sebi.
Speaking to reporters on the sidelines of CII Mining and Construction Equipment Summit, CIL Director Business Development Debasish Nanda had said, "We are going to file DRHP soon. We are working on that." DRHP is a preliminary document that a company files with markets regulator Sebi for a public offer.
On the financial front, the company's profit for the year ended March 2025 was Rs 666.91 crore and revenue from operations stood at Rs 2,102.76 crore . It didn't have any borrowing in its books.
To manage the offering, CMPDIL has appointed IDBI Capital Markets & Securities Ltd and SBI Capital Markets Ltd. The equity shares of the company will be listed on the BSE and NSE. PTI SID SP ANU ANU
/newsdrum-in/media/member_avatars/9Rj3p38eDEeibqzKtTLR.jpg )
Follow Us/newsdrum-in/media/agency_attachments/2025/01/29/2025-01-29t072616888z-nd_logo_white-200-niraj-sharma.jpg){kind=logo}
