Coal India shares gained on Monday, May 18, after the government approved the listing of Mahanadi Coalfields Limited (MCL), one of Coal India’s key subsidiaries. The IPO proposal is aimed at unlocking value, improving transparency, and helping Coal India monetise its assets. The issue may include both a fresh share sale and an offer for sale (OFS), with Coal India planning to dilute up to 25% stake in MCL over multiple phases, subject to market conditions and regulatory approvals.
