From The Economic Times · PTI · · 50s
Mahanadi Coalfields Files IPO RHP
Mahanadi Coalfields Ltd files Rs 9,500 crore IPO RHP with Coal India.
In brief
Mahanadi Coalfields Ltd files Rs 9,500 crore IPO RHP with Coal India. Mahanadi Coalfields Ltd filed a Red Herring Prospectus for a proposed IPO worth nearly Rs 9,500 crore, offering 66.18 crore equity shares representing 10% of Coal India's stake. Originally reported by The Economic Times.
Mahanadi Coalfields Ltd Files RHP
Mahanadi Coalfields Ltd, a wholly owned subsidiary of Coal India Ltd, filed the Red Herring Prospectus for its proposed initial public offering.
RHP Filed with Regulators
The RHP, dated November 13, was filed with the Registrar of Companies, SEBI, BSE, and NSE.
Offer for Sale Details
The proposed IPO includes an offer for sale of up to 66.18 crore equity shares by Coal India, representing 10% of its stake.
IPO Value and Conditions
The issue is estimated to fetch around Rs 9,500 crore and remains subject to approvals, market conditions, and other considerations.
The key point
Mahanadi Coalfields Ltd filed a Red Herring Prospectus for a proposed IPO worth nearly Rs 9,500 crore, offering 66.18 crore equity shares representing 10% of Coal India's stake.
