(FE)
Coal India is likely to come out with the initial public offer for its two subsidiaries Bharat Coking Coal Limited (BBCL) and the Central Mine Planning and Design Institute (CMPDI) in the financial year 2024-25, according to sources.
Back in 2022, the company had said that its board had given an ‘in-principle’ approval to the divestment of 25% of paid-up share capital of BCCL and its subsequent listing on the stock exchanges. However, the subsidiary has so far not been listed.
“It (the listing of BCCL, CMPDI) is under process. It may happen by the next financial year,” said a government official aware of the development. “BCCL now is in profit and has paid all its debt,” the source noted.
