Bharat Coking Coal files DRHP with SEBI
Bharat Coking Coal (BCCL), a wholly-owned subsidiary of Coal India (CIL), has filed its draft red herring prospectus (DRHP) with capital market regulator Securities and Exchange Board of India (SEBI). The DRHP, pertains to an offer for sale (OFS) of up to 46.57 crore equity shares by Coal India. The IPO remains subject to receipt of necessary approvals, market conditions, and other considerations.
The proposed IPO of BCCL is part of the government’s broader divestment strategy in the coal sector, aimed at unlocking value in subsidiaries and improving operational transparency through market listing. The IPO plan comes after BCCL paid its maiden dividend of Rs 44.43 crore to CIL. This milestone follows BCCL’s achievement of clearing its accumulated losses.
BCCL is a coal-producing subsidiary and CMPDI is a technical arm of Coal India.
