PMO Directs Coal India Subsidiaries to Be Listed by 2030 — Here’s Why

The Prime Minister's Office (PMO) has instructed the coal ministry to map and list every subsidiary of the state-run Coal India Limited (CIL) by 2030 in order to enhance governance and accountability, reported PTI.

The action intends to improve transparency, expedite governance, and unlock value in the coal PSU through asset monetisation. More than 80% of the country's coal production comes from Coal India Ltd. (CIL).

There are plans to list all of Coal India's subsidiaries by 2030, highly placed sources told PTI on the condition of anonymity.

There is an instruction from PMO to list all the arms of Coal India by 2030 to improve the company's governance, sources added.

CIL operates through eight subsidiaries, namely Eastern Coalfields Ltd, Bharat Coking Coal Ltd, Central Coalfields Ltd, Western Coalfields Ltd, South Eastern Coalfields Ltd, Northern Coalfields Ltd, Mahanadi Coalfields Ltd and Central Mine Planning & Design Institute Ltd.

BCCL and Central Mine Planning & Design Institute Ltd are set to be listed on stock exchanges by March 2026, with all preparations completed, sources said.

The domestic and international roadshows of BCCL are completed, they added.

The listing process for Bharat Coking Coal Ltd is in full steam with absolutely no holds or delays, sources explained.

In a regulatory filing to the exchanges recently, Coal India said its board of directors had given the go-ahead for South Eastern Coalfields Ltd and Mahanadi Coalfields to be listed.

The decision follows a specific directive from the Ministry of Coal to CIL to initiate concrete steps to ensure the listing of two of its primary subsidiaries, Mahanadi Coalfields Ltd and SECL, within the next financial year.

Bharat Coking Coal Ltd, a few months back, filed its draft red herring prospectus (DRHP) with capital market regulator SEBI for its proposed initial public offering.

In a regulatory filing, CIL had said the DRHP, pertains to an offer for sale (OFS) of up to 46.57 crore equity shares by Coal India. The IPO remains subject to receipt of necessary approvals, market conditions and other considerations, it had added.

Central Mine Planning and Design Institute Ltd had also filed its DRHP with SEBI for its proposed IPO via the offer-for-sale route.

Coal India Ltd is targeting a production of 875mn tonnes for the current financial year.                                                                                                                           

Market Reforms Push

The directive fits into the Centre’s wider PSU reform and asset-monetisation strategy outlined by Department of Investment and Public Asset Management (DIPAM) and NITI Aayog. Listing subsidiaries is seen as a way to improve disclosures, impose market discipline, and unlock shareholder value, while allowing the government to retain control over strategic coal assets.

According to a report published by Times of India on December 24, Coal India’s subsidiary listings this year reflect strong market momentum. Its board has approved IPOs for Mahanadi Coalfields and SECL, while BCCL’s planned IPO has lifted CIL shares, indicating investor confidence and potential value unlock for stakeholders ahead of broader 2030 listing push.

(With inputs from PTI.)