Mahanadi Coalfields wins SEBI nod for IPO stake sale
In short
Mahanadi Coalfields got SEBI approval for an IPO, and Coal India is set to sell a 10% stake. The deal could involve 661.8 million shares and may raise about $1 billion, with a possible $10 billion valuation.
What the reporting says
Mahanadi Coalfields secured SEBI approval for an upcoming IPO, with Coal India set to sell a 10% stake, according to the reporting. The syndicated summaries say the offer could involve 661.8 million shares and may raise about $1 billion, implying a valuation near $10 billion.
Why it matters
Mahanadi Coalfields received SEBI approval for a planned IPO, with Coal India expected to sell 10% of the unit. The publisher summaries say the offer may include 661.8 million shares and target about $1 billion, implying a roughly $10 billion valuation.