(Reuters) -Central Mine Planning and Design Institute Ltd (CMPDIL), a unit of the state-run miner Coal India, has filed for an initial public offering, draft papers dated Monday showed.
Activities related to listing of CMPDIL and Bharat Coking Coal Ltd (BCCL) “are in progress”, Coal India said in a statement last week, after local newspaper Hindu Businessline reported citing an executive that the firm is set to file IPO papers of its units “soon”.
Coal India has not publicly filed papers for BCCL yet.
CMPDIL will not issue fresh shares in the offering. Coal India plans to sell as much as 71.4 million shares, the draft prospectus showed without revealing further details, including the size of the IPO.
The company offers consultancy services for mine planning, coal and mineral exploration and, according to its prospectus, is the largest coal and mineral consultancy in India.
SBI Capital Markets and IDBI Capital Markets and Securities are the book-running lead managers of the IPO.
Many IPO hopefuls have either delayed or downsized their plans to go public in 2025, as global uncertainties weakened investor sentiment and put Indian markets under pressure, in contrast to a blockbuster 2024.
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Janane Venkatraman)
