Coal India jumps on reports of coking coal unit's potential $145 million listing

Hong Kong Economic Times Holdings

23/12/2025 07:35

** Shares of Coal India COAL.NS rise 3.4% to become top Nifty 50 gainer

** State owned co's unit Bharat Coking Coal (BCCL) is likely to hit the primary market with 13 billion rupee ($144.83 million)listing within the next two weeks, Economic Times reports

** The proposed public issue is expected to be a pure offer for sale, with Coal India planning to offload around 10% of its equity stake in unit BCCL, according to the report

** No fresh shares will be issued, which means the entire proceeds from the IPO will go to the COAL, ET added

** COAL did not immediately respond to a Reuters request for comment

** Markets regulator had cleared unit's draft red herring prospectus in September

** Coking coal is a critical raw material used mainly in steel manufacturing

** YTD, COAL up ~4%

($1 = 89.7600 Indian rupees)

(Reporting by Urvi Dugar in Bengaluru)

((UrviManoj.Dugar@thomsonreuters.com;))