Kolkata: State-owned Coal India Ltd (CIL) has diluted a 10% stake in its coking coal arm Bharat Coking Coal Limited (BCCL) following the successful listing of the subsidiary on the BSE and NSE on January 19. The IPO, priced at ₹23 per share, involved the sale of 465.7 million equity shares and raised about ₹1,071 crore for Coal India through an offer-for-sale route.
Post the transaction, Coal India’s shareholding in BCCL has come down to 4.19 billion shares, or 90% of the paid-up equity capital, from 100% earlier. As a result, BCCL has ceased to be a wholly owned subsidiary but continues to remain under the control of Coal India, the miner said in a regulatory filing.
The listing marks one of the key steps in Coal India’s broader strategy to unlock value from its subsidiaries while retaining majority ownership. BCCL is a critical asset for Coal India, given its dominance in coking coal production, a key input for the steel industry.
Market participants will closely track BCCL’s post-listing performance, particularly its ability to improve operational efficiency and capital discipline amid India’s push for higher domestic coal output and reduced import dependence.
Coal India stated that the disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in line with earlier updates provided on January 3 and January 14, 2026.