Mahanadi Coalfields’ proposed initial public offering has advanced to the red herring prospectus filing stage, according to a report on Coal India’s stock-exchange disclosure on Saturday, 14 November.
NDTV Profit reported that Coal India said the prospectus, dated 13 November 2026, had been filed with the Registrar of Companies, the Securities and Exchange Board of India (SEBI), BSE and the National Stock Exchange (NSE). The prospectus date and the date of Saturday’s reported disclosure are therefore different.
An offer for sale by Coal India
The proposed transaction involves shares held by Coal India, Mahanadi Coalfields’ parent. In the earlier draft red herring prospectus, dated 31 August 2026, the company proposed an offer for sale of up to 66,18,36,300 equity shares, each with a face value of ₹2.
An offer for sale transfers existing shares from the selling shareholder to investors. Under the structure described in the draft papers, Mahanadi Coalfields would not receive the sale proceeds; they would go to Coal India after applicable offer expenses and taxes.
Face value is different from the offer price
The ₹2 face value in the draft document should not be mistaken for the price investors would pay in the IPO. The draft leaves the offer price open and describes a book-building process for determining it.
That distinction matters when reading early IPO reports: a share count establishes the proposed maximum number of shares, while the rupee value of an offering also depends on its final price.
A filing step, ahead of a completed offering
Mahanadi Coalfields is described in Saturday’s report as a wholly owned Coal India subsidiary. The newly reported RHP filing is a step in the proposed public-offer process; it does not by itself establish that subscriptions, allotment or stock-exchange listing have been completed.
The August draft is linked here as background to the proposed structure. Its unfilled price and timetable fields should not be treated as final terms for the current offer.
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