Mahanadi Coalfields Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹0
Per ShareLot Size
0 Shares
Minimum Investment
₹0
Issue Size
₹0 Cr
Face Value
₹2
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
IPO Opens19 Nov
IPO Closes23 Nov
Basis of Allotment25 Nov
Refund Initiation26 Nov
Shares Credited26 Nov
Mahanadi Coalfields Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
100%
Promoter Holding (Post-Issue)
90%
Issue Type
Book Building
ISIN
INE03K401018
About the Company
Our Company is the largest single coal producing company in India in terms of production in Fiscal 2026, accounting for 21.0% of the domestic coal production. As at April 1, 2026, the Talcher and Ib Valley coalfields held a total estimated coal resource of approximately 106.76 billion tonnes. As at April 1, 2026, our audited coal reserves as per the JORC Code stood at 9,840.31 MT, which would sustain our production operations for around 45 years considering the present production level (the Annual Coal Production of 218.31 MT in Fiscal 2026). Assuming that there will be a production increase year on year with a CAGR of 4.70%, which is based on the production for the past 10 years, these coal reserves would sustain for around 25 years. Assuming a production rate similar to the current level is maintained, the additional resource-to-reserve conversion has the potential to extend the operational life of our mines by approximately 100 years in addition to the 45 years of audited coal reserve life (assuming a constant rate of production at Fiscal 2026 production levels, as per the DMT Report). Assuming the production increases at a CAGR of 4.70%, which was the CAGR in our production from Fiscal 2016 to Fiscal 2026, the additional resource-to-reserve conversion has the potential to extend the operational life of our mines by approximately 20 years in addition to the 25 years of audited coal reserve life (assuming coal production growth at a CAGR 4.70%, as per the DMT Report). However, our actual mine life extension will depend on the success of future exploration programs, reserve conversion rates, mining and environmental approvals, and future production levels and the demand for noncoking coal. Our Resources are predominantly thermal-grade non-coking coal.
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Consolidated figures
Revenue
Amount in ₹ crore
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of up to 661,836,300 equity shares of face value of Rs. 2 each ("Equity Shares") of Mahanadi Coalfields Limited (the "Company" or the "Issuer") for cash at a price of Rs. [*] per equity share including a premium of Rs. [*] per equity share (the "Offer Price") through an offer for sale (the "Offer") of up to 661,836,300 equity shares aggregating up to Rs. [*] Crores by Coal India Limited (the "promoter selling shareholder" or "selling shareholder" and such equity shares offered by the selling shareholder, the "Offered Shares"). The offer includes a reservation of up to 33,091,815 equity shares of face value of Rs. 2 each, aggregating up to Rs. [*] Crores (constituting up to [*]% of the post-offer paid-up equity share capital) for subscription by eligible employees ("Employee Reservation Portion") and a reservation of up to [*] equity shares aggregating up to Rs. [*] Crores (constituting up to [*]% of the post-offer paid-up equity share capital) for subscription by eligible shareholders ("Shareholder Reservation Poriton"). The offer less the employee reservation portion and the shareholder reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer shall constitute [*]% and [*]%, respectively, of the post-offer paid-up equity share capital of the company. The company may in consultation with the brlms, offer a discount of [*]% (equivalent of Rs. [*] per equity share on the offer price to eligible employees bidding in the employee reservation portion ("Employee Discount"). The face value of the equity share is Rs. 2 each. the offer price is [*] times the face value of the equity shares. The price band, the employee discount and the minimum bid lot size will be decided by the company.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- The largest coal producer in India, accounting for 21.00% of domestic coal production in Fiscal 2026, with coal reserves sufficient to sustain around 45 years of production at current levels.
- We benefit significantly from the strategic support and vast resources of Coal India Limited, the largest coal producing company in the world.
Frequently Asked Questions
01What is the minimum investment required to apply for this IPO?
The minimum investment depends on the lot size and the upper price band of the issue. Investors must apply for at least one lot, and the total investment amount is calculated by multiplying the lot size by the upper price band.
02How is IPO allotment decided?
IPO allotment is determined based on demand and SEBI guidelines. If the IPO is oversubscribed in the retail category, allotment is typically done through a computerized lottery system to ensure fair distribution among eligible applicants.