State-owned Coal India Ltd. is preparing to launch an initial public offering for its unit, Mahanadi Coalfields Ltd., with the sale potentially kicking off as soon as this month. According to individuals familiar with the matter who requested anonymity due to the private nature of the information, the company has already begun holding meetings with investors.
The proposed share sale is targeted for the second half of November or early December. Sources indicate that the offering could raise as much as $1 billion, which would value Mahanadi Coalfields at approximately $10 billion.
Sources: Bloomberg Markets.