New Delhi: Coal Minister G Kishan Reddy said on Friday that market study regarding the proposed listing of Coal India subsidiaries, Bharat Coking Coal Ltd (BCCL) and Coal Mine Planning & Design Institute (CMPDI), is currently underway, and the government will proceed with the listings at an appropriate time.
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A few months ago, BCCL and CMPDI filed draft red herring prospectuses with markets regulator SEBI and with the BSE and NSE for their proposed initial public offering.
Speaking to reporters during the inauguration of the mines ministry pavilion at the India International Trade Fair (IITF), the minister said, "We are doing market study and after doing that we will go for listing at the right time." He added, "As our experts, consulting agencies are doing market study, we will go for it after they take a decision on it."
Reddy said he reviewed the performance of all public sector undertakings in the coal sector on Thursday. He also said there is adequate coal availability across all consuming sectors, including power.
According to the minister, as coal demand increases, production will be scaled up accordingly. He also said there is sufficient coal available for all the sectors, including power and as the demand for coal surges, the production will also be ramped up.
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The proposed IPOs of BCCL and CMPDI form part of the government’s broader divestment strategy in the coal sector, aimed at unlocking value in subsidiaries and improving operational transparency through market listing.