Regulator approves Coal India unit Mahanadi Coalfields IPO
In short
India’s markets regulator has approved an IPO for Mahanadi Coalfields, a Coal India unit. The report says the offer could include 661.8 million shares, or 10% of the company, and may raise $1 billion.
What the reporting says
The report says the Coal India unit could sell 661.8 million shares, equal to a 10% equity stake, and may raise $1 billion at a $10 billion valuation.
Why it matters
India’s markets regulator has approved an IPO for Mahanadi Coalfields, a Coal India subsidiary, with the offer described as 661.8 million shares or a 10% stake. The event is relevant to India’s coal and capital markets.