Market study on listing of Coal India arms underway: G Kishan Reddy

Coal Minister G Kishan Reddy on Friday said market study with regard to listing of Coal India arms BCCL and CMPDI is underway and their listing will take place at the right time.

A few months back Bharat Coking Coal Ltd (BCCL) and Coal Mine Planning & Design Institute (CMPDI) filed draft red herring prospectus with capital markets regulator Sebi, as well as BSE and NSE, for its proposed initial public offering.

Talking to reporters during the inauguration of mines ministry pavilion at India International Trade Fair (IITF) here the minister said, "We are doing market study and after doing that we will go for listing at the right time."  "As our experts, consulting agencies are doing market study, we will go for it after they take a decision on it," he added.

The minister also said that he reviewed the performance of all PSUs in the coal sector on Thursday.

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.

CMPDI renders its consultancy services to Coal India Ltd (CIL) and its subsidiaries in the areas of coal exploration, mine planning and design, coal beneficiation and utilisation, allied engineering services, environmental engineering, information and communication technology, and laboratory services, field services, etc.

The proposed IPO of BCCL and CMPDI is 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.

Coal India accounts for over 80 per cent of the domestic coal output.