Upcoming IPO: Coal India board approves selling 25% each in units South Eastern Coalfields, Mahanadi Coalfields

Coal India approved plans to divest stakes in SECL and MCL, selling up to 35% and 25% respectively. The proposal involves an Offer for Sale and new equity shares, pending regulatory approvals. SECL oversees 60 coal mines, while MCL is a key contributor to Coal India’s output.