Coal India Ltd is planning to sell 7.14 crore shares in its subsidiary Central Mine Planning & Design Institute (CMPDI) through an Initial Public Offering (IPO), according to a report by Bloomberg on Monday.
The proposed sale is part of Coal India’s broader divestment and asset monetization strategy, as it aims to unlock value from its subsidiaries. CMPDI, a wholly owned unit of Coal India, plays a crucial role in mine planning, exploration, and consultancy services across India’s coal sector.
CMPDI, headquartered in Ranchi, is considered the backbone of coal exploration and technical services in India. The company’s IPO is expected to attract significant institutional interest given its strategic role and long-standing client relationships within the coal industry.
Stock Update:
As of 10:49 AM on May 27, Coal India shares were trading at ₹401.00, down 0.42% or ₹1.70 from the previous close of ₹402.70. The stock has traded in a narrow range of ₹398.30 to ₹403.55 during the session so far, with a market capitalization of ₹2.47 trillion.
Coal India currently trades at a P/E ratio of 6.99, with an average daily volume of 6.67 million shares on the NSE.
While the company hasn’t yet released an official filing regarding the IPO, Bloomberg’s report signals an impending offer that could be a key event for both Coal India and the broader public sector divestment drive.
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