On December 24, 2025, a Wednesday, there was a remarkable rise in the shares of Coal India Ltd which is owned by the government after the company’s board of directors gave their initial approval for the listing of two wholly owned subsidiaries, namely Mahanadi Coalfields Ltd (MCL) and South Eastern Coalfields Ltd (SECL), respectively. At 12:03 p.m. the price of Coal India stock on the National Stock Exchange was ₹404.5 which means that it has gone up by 1% as compared to the previous closing price.

In regulatory filings, Coal India confirmed that the board has given the green light to the listing process for MCL and SECL, following directives from the Ministry of Coal. The government aims to complete these listings within the next financial year. This is a step taken by the central government to make the most out of the high-performing public sector units (PSUs), raise the level of corporate transparency and involve the public more.

Now, the proposal to list the company is going to the Ministry of Coal where it will be handed over to the Department of Investment and Public Asset Management (DIPAM). It still has to get the go-ahead from SEBI and other authorities before being considered official.

SECL, which is located in Bilaspur, Chhattisgarh, is a company that has been one of Coal India’s most efficient subsidiaries, with a projected coal production of 167 million tonnes for 2024-25. The company is mining coal in Chhattisgarh and Madhya Pradesh and is continually modernizing its machinery and infrastructure. One of the major projects currently taking place is the modernization of Gevra open-cast mine, which is already recognized as one of the largest mines of its type in Asia.

In addition to SECL, it is possible to list in the future the other subsidiaries of the company such as Bharat Coking Coal Ltd (BCCL) and the Central Mine Planning and Design Institute (CMPDI). BCCL had already secured SEBI approval in September 2025.

In that way, this initiative not only solidifies Coal India’s growth forecast but also gives investors a chance to own a share of the super psu while getting access to more operational transparency.