Bharat Coking Coal Limited (BBCL) and the Central Mine Planning and Design Institute (CMPDI), both subsidiaries of state-run Coal India Ltd (CIL), are likely to go public in the second half of FY26, Vikram Dev Dutt, secretary, coal ministry, has said.
"We are hopeful that the listing will happen in the next financial year, subject to market conditions. All the proceedings for it are going on as per schedule. A lot of preparatory legwork for listing as is mandated is currently on," Dutt told media in Delhi on February 8.
In the financial year 2023-24, BCCL reported profit after tax of Rs 1,564.46 crore, more than double of Rs 664.78 crore in the previous year.
CMPDI's profit after Tax came in at Rs 503.23 crore, an increase of 70 percent from the previous year.
BCCL’s net worth was Rs 5,355.47 crore as on March 31, 2024, the company said in its annual report. CMPDI’s was net Rs 1,591.61 crore.
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BCCL would be the first to list and then CMPDI, CIL chairman and managing director PM Prasad previously said.
The discussions around CIL listing its subsidiaries have been on for some time now. In 2022, the company said its board had given an “in-principle” approval to the divestment of 25 percent of paid-up share capital of BCCL and its subsequent listing on the exchanges. The plan, however, was put on hold.
Last year, the government renewed the plan to list BCCL and CMPDI, with the finance ministry giving its go-ahead.
BCCL produces bulk of coking coal mined in the country, meeting 50 percent of the total requirement of this key input for the steel industry.
Headquartered in Ranchi, CMPDI is Coal India’s consultancy firm that provides research and support for mineral exploration, mining and infrastructure engineering among others.
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