Medium impact
Coal India reported to plan a $1 billion share sale in Mahanadi Coalfields
Bloomberg reported on 3 November that Coal India is preparing an initial public offering of its subsidiary Mahanadi Coalfields that could raise about $1 billion, by selling roughly 10% of the shares, possibly as soon as late November. Another subsidiary, South Eastern Coalfields, has already filed draft papers with SEBI. The company had not confirmed the timing. Coal India closed flat at ₹408. 4 November is the record date for its ₹10.25 second interim dividend.
The chain of consequences
- 1Bloomberg reports plan to list subsidiary Mahanadi Coalfields
- 2About 10% would be sold, possibly in late November or early December
- 3Coal India shares close flat ahead of dividend record date
Tends to gain
Coal India could unlock value from its subsidiaries
Tends to lose
Large share sales can absorb market money in the short run
If it reverses
If the plan is delayed, focus returns to coal demand and dividends.
Companies in this story
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