Sebi approves Mahanadi Coalfields IPO
In short
Sebi has approved the upcoming IPO of Coal India unit Mahanadi Coalfields. The offer is set to sell 661.8 million shares, or 10% of the company, and could raise about $1 billion.
The IPO would value the unit at around $10 billion, making it a big deal for India’s IPO market.
What the reporting says
Sebi has approved the upcoming IPO of Coal India unit Mahanadi Coalfields, according to an Economic Times IPO summary. The offer may sell 661.8 million shares, equal to a 10% equity stake, and could raise about $1 billion.
Why it matters
The Economic Times IPO summary says Sebi has cleared Mahanadi Coalfields for an upcoming listing, with an offer size of 661.8 million shares, or a 10% stake. It says the issue could raise about $1 billion and value the Coal India unit at roughly $10 billion. The likely impact is on India’s IPO pipeline and coal-sector valuations.