Draft papers for two CIL arms' IPO to be filed soon: Official

New Delhi: The process of listing of two subsidiaries of Coal India Ltd - BCCL and CMPDI - has begun and draft papers would be filed soon with Sebi, the company on Monday said.

Speaking to reporters on the sidelines of CII Mining and Construction Equipment Summit, Coal India Ltd (CIL) Director Business Development Debasish Nanda 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.

Nanda further said that Book Running Lead Manager (BRLM) for the IPO has just been appointed.

The coal ministry had earlier said the listing of both firms - Bharat Coking Coal Ltd (BCCL) and Central Mine Planning and Design Institute (CMPDI) - will take place, but the timing will depend on market conditions.

Coal India has seven coal-producing subsidiaries and one technical and consultancy company. The company accounts for over 80 per cent of the domestic coal production.

The company, Nanda said, is working on critical minerals both in India and abroad and added that "with regard to critical mineral projects overseas, we are looking at South America, Australia and Africa." He however did not divulge name of the companies.

CIL, he said, is working on three coal gasification projects, which are in different stages , and also on pithead power plants.

The company is working on a 1,600 MW project in Odisha for which the land acquisition is in process. "We are hoping that Rs 16,000 crore would be the project cost (of the plant)." The company is also working on a similar power project with DVC. CIL has just entered into a pact with DVC and "going forward we have to sign JV. It is a 50:50 JV." The capex target of the coal behemoth for the ongoing financial year is Rs 17,000 crore, he added.

CIL reported 12 per cent year-on-year rise in consolidated net profit at Rs 9,604.02 crore for the quarter ended March 2025 on the back of higher income. Total income during the January-March period rose to Rs 41,761.76 crore from Rs 40,457.59 crore a year ago.

Total expenses increased to Rs 29,057.30 crore from Rs 28,950,41 crore earlier.

Coal production by CIL was almost flat at 62.1 million tonne (MT) in April as compared to the year-ago period.

In 2024-25, CIL produced 781.1 MT of coal, nearly seven per cent less than the company's target for the financial year. CIL is targeting a production of 875 MT and offtake of 900 MT in 2025-26 fiscal year.