Mahanadi Coalfields Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹0 - ₹0
- Lot size
- —
- Issue amount
- ₹0 cr
- Total subscription
- 0×
- Opens
- 30 Nov 2026
- Closes
- 2 Dec 2026
- Allotment
- 4 Dec 2026
- Listing
- 7 Dec 2026
Offer at a glance
Issue overview
- Issue size
- 66,18,36,300 shares
- Face value
- ₹2 Per Share
- Minimum investment
- ₹0
- Fresh issue
- ₹0 cr
- Offer for sale
- ₹0 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹0
- Issue type
- Bookbuilding IPO
- Shares before issue
- 6,61,83,63,000
- Shares after issue
- 6,61,83,63,000
Subscription & GMP
Subscription by category
Subscription figures are awaiting publication.
GMP history
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Jun 30, 2026 | Mar 31, 2026 |
|---|---|---|
| EPS | 3.62 | 16.13 |
| ROE | 10.14 | 49.9 |
| ROCE | 14.48 | 73.26 |
| RONW | 10.63 | 53.87 |
| PRE IPO(PE) | 0 | 0 |
| POST IPO(PE) | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Mahanadi Coalfields Limited (MCL) was incorporated on 3 April 1992 and is headquartered in Odisha, India. It is a subsidiary of Coal India Limited and operates primarily in the Talcher and Ib Valley coalfields. The company is engaged in the exploration, extraction, production and supply of non-coking coal, including washed and beneficiated coal. Its customers include power generation companies, independent power producers, captive power plants, cement manufacturers and sponge iron industries. MCL produced approximately 218.31 million tonnes of coal in FY2026, accounting for around 22.4% of India's total non-coking coal production.
Strengths
- One of India's largest coal producers by production volume.
- Wholly owned subsidiary of Coal India Limited.
- Strong government-backed business and established operations.
- Large coal resource base in Talcher and Ib Valley.
- 17 operational mines, including 14 opencast and 3 underground mines.
- Established railway and coal transportation infrastructure.
- Long-term demand from power generation and industrial sectors.
- Miniratna Category I status.
- Large audited coal reserves supporting long-term production.
Risk factors
- Significant dependence on coal and thermal power demand.
- Environmental regulations and decarbonisation policies may affect long-term business.
- Government policies and mining approvals can affect operations.
- Coal transportation depends heavily on railway infrastructure.
- Mining operations involve worker safety and environmental risks.
- Exposure to changes in coal prices and production costs.
- Entire IPO is OFS, so the company receives no IPO proceeds.
- Dependence on large institutional and power-sector customers.
Promoters
Coal India Limited (CIL) (Holding company)
President of India (acting through the Ministry of Coal, Government of India)
Registrar & documents
Lead manager
SBI Capital Markets Limited, Axis Capital Limited, Bob Capital Markets Limited, IDBI Capital Markets & Securities Limited, IIFL Capital Services Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Mahanadi Coalfields Limited, Jagruti Vihar, Burla, Sambalpur – 768020, Odisha, India
+91 663 254 2977
[email protected]Company website ↗Understanding MACL IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.