Coal India Unit SECL Selects Banks for $800 Million Mumbai IPO

Key Facts

1South Eastern Coalfields (SECL), a unit of Coal India, has selected banks for an $800 million initial public offering in Mumbai.

South Eastern Coalfields (SECL), a unit of Coal India, has selected banks to manage an initial public offering in Mumbai. Investing.com reported that the share sale is valued at approximately $800 million.

The move is part of a broader strategy to list subsidiaries of state-owned enterprises to raise capital and enhance market valuation. This development coincides with expansionary economic activity in India, where the Manufacturing PMI was recorded at 55.7 on September 23, 2026.