PM Office directs Coal India to list all subsidiaries by 2030

New Delhi, Dec 28 (PTI) The Prime Minister’s Office (PMO) has directed the coal ministry to map and list all subsidiaries of state-run CIL by 2030 in a bid to improve governance and accountability, sources said.

The move aims to streamline management, increase transparency and unlock value through asset monetization in coal PSU. Coal India Ltd (CIL) accounts for more than 80 percent of domestic coal production.

Coal India is planning to list all its subsidiaries by 2030, senior sources said on condition of anonymity.

Sources said the PMO has an instruction to list all arms of Coal India by 2030 to improve the management of the company.

CIL operates through eight subsidiaries namely Eastern Coalfields Ltd, Bharat Coking Coal Ltd, Central Coalfields Ltd, Western Coalfields Ltd, South Eastern Coalfields Ltd, Northern Coalfields Ltd, Mahanadi Coalfields Ltd and Central Mine Planning & Design Institute Ltd.

Sources said BCCL and Central Mine Planning & Design Institute Ltd are planned to be listed on the stock exchanges by March 2026 after all preparations are completed.

He added that BCCL’s domestic and international promotional tours have been completed.

According to sources, the listing process of Bharat Coking Coal Ltd is continuing at full speed without any waiting or delay.

In a regulatory filing to the stock exchanges recently, Coal India said its board has given permission for listing of South Eastern Coalfields Ltd and Mahanadi Coalfields.

The decision follows a specific directive from the Ministry of Coal to CIL to initiate concrete steps to ensure listing of two of its main subsidiaries, Mahanadi Coalfields Ltd and SECL, in the next financial year.

A few months ago, Bharat Coking Coal Ltd filed its draft red herring prospectus (DRHP) for its proposed initial public offering with capital markets regulator SEBI.

In a regulatory filing, CIL had said that DRHP was involved in an offer for sale (OFS) of up to 46.57 crore equity shares of Coal India. He added that the IPO will continue to be subject to obtaining necessary approvals, market conditions and other matters.

Central Mine Planning and Design Institute Ltd. had also filed its DRHP with SEBI for the proposed IPO through offer for sale route.

Coal India Ltd is targeting production of 875 million tonnes for the current financial year.