# Mahanadi Coalfields IPO Files RHP at ₹12.5

> Coal India subsidiary files IPO RHP with ₹12.5 GMP ahead of November 19 launch.
- Title: Mahanadi Coalfields IPO Files RHP at ₹12.5 · mint | Shortify
- Summary: Coal India subsidiary files IPO RHP with ₹12.5 GMP ahead of November 19 launch. Mahanadi Coalfields Ltd (MCL) subsidiary of Coal India files IPO RHP with…
- Keywords: mahanadi coalfields, coal india, ipo, red herring prospectus, grey market premium, mcl, coal production, stock market, mint
- Source: mint — https://livemint.com/market/ipo/mahanadi-coalfields-ipo-coal-india-subsidiary-files-rhp-latest-gmp-at-rs-12-5-check-key-dates-size-valuation-more-11794640652111.html
- Author: Pranati Deva
- Published: 2026-11-14T08:09:25+00:00
- Read time: 1 min
- Topics: mahanadi coalfields, coal india, ipo, red herring prospectus, grey market premium, mcl, coal production, stock market, money, business
## IPO Filing Details
Mahanadi Coalfields Ltd (MCL) has filed its Red Herring Prospectus (RHP) for an initial public offering opening November 19, 2026.

> the Red Herring Prospectus (RHP) dated 13th November, 2026 of Mahanadi Coalfields Limited (MCL), a wholly owned subsidiary of Coal India Limited, was filed with RoC, SEBI, BSE and NSE
## Offer Size and Structure
The IPO offers up to 66.18 crore shares with no proceeds going to MCL, part of Coal India's strategy to unlock value through subsidiary listings.
## Production and Financials
MCL produced 218.31 million tonnes of coal in FY26, with revenue at ₹30,549.59 crore and profit of ₹10,677.74 crore.
## IPO Timeline
The IPO opens November 19, closes November 23, with allotment on November 25 and listing expected November 27, 2026.
## Grey Market Premium
Latest grey market premium (GMP) is ₹12.50 per share, an unofficial indicator that may change before listing.
## Share Allocation
Up to 3.31 crore shares reserved for employees and 6.61 crore for Coal India shareholders, with 56.25 crore net shares available.
## Book Running Managers
SBI Capital Markets, Axis Capital, BOB Capital Markets, IDBI Capital Markets & Securities and IIFL Capital Services lead the IPO.
## Coal Production Details
MCL produced 218.31 million tonnes in FY26, accounting for 21% of India's domestic coal production.
## Expansion Plans
MCL plans to expand mines, develop new projects, and increase coal beneficiation capacity by FY30.
## Key Risks
MCL's business depends on power sector demand and faces risks from environmental clearances and land acquisition.
## Key takeaway

Mahanadi Coalfields Ltd (MCL) subsidiary of Coal India files IPO RHP with ₹12.5 grey market premium, opening November 19, 2026.