Coal India Moves Ahead With South Eastern Coalfields Listing Plan
Coal India approves SECL listing as the center urges faster monetization of major coal-producing subsidiaries.
The board of Coal India Limited (CIL) approved the listing of its major subsidiary, South Eastern Coalfields Limited (SECL), on the stock exchanges during a meeting held on December 23, 2025. This decision marks a significant step in the government's ongoing efforts to unlock value from CIL's subsidiaries and enhance transparency and market participation in the coal sector.
SECL, one of CIL's largest and most profitable arms, is responsible for coal production primarily in the states of Chhattisgarh and Madhya Pradesh. It contributes a substantial portion of CIL's overall output and has consistently delivered strong financial performance. The listing is expected to provide SECL with access to public capital markets, improve corporate governance, and allow broader investor participation in the company's growth story.
The move comes shortly after the Ministry of Coal advised CIL to take concrete steps for the further listing of two key subsidiaries—Mahanadi Coalfields Limited (MCL) and South Eastern Coalfields Limited (SECL)—in the upcoming financial year. The ministry's directive aligns with the broader disinvestment and monetization strategy aimed at unlocking value from public sector undertakings while maintaining government control.
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Industry experts view the SECL listing as a precursor to similar moves for other high-performing CIL subsidiaries, potentially including MCL. The initiative is expected to boost investor confidence in India's coal sector, attract long-term institutional capital, and support the government's goal of increasing domestic coal production to reduce reliance on imports.
Coal India, the world's largest coal producer, has been working on subsidiary listings as part of its strategic roadmap to create focused entities that can operate with greater autonomy and efficiency. The board's approval for SECL's listing is seen as a positive development for shareholders, the coal industry, and the broader energy ecosystem in India, with formal listing expected to follow regulatory approvals and necessary compliances in the coming months.
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