Coal India unit Central Mine Planning seeks $1.33 billion valuation, IPO opens Friday (updated)

Bharat Coking Coal

16/03/2026 03:02

Adds details throughout

March 16 (Reuters) - Coal India's COAL.NS subsidiary, Central Mine Planning & Design Institute CENM.NS, has set a price band of 163 to 172 rupees per share for its 18.38-billion-rupee ($198.68 million) initial public offering, according to a newspaper advertisement.

The company, which provides consultancy and support services for coal and mineral exploration, is seeking a valuation of $1.33 billion at the upper end of the price band.

The IPO, which will be open for subscription from March 20 to March 24, comes as global markets face pressure from geopolitical tensions linked to a conflict in the
Middle East
.

Weak sentiment has also affected India's primary market, with seven of the 11 IPOs launched so far in 2026 listing below their initial issue prices.

Bharat Coking Coal BARC.NS, another subsidiary of Coal India, nearly doubled on its debut in January, supported by the strong backing of its parent company and robust demand for coking coal from steelmakers.

Central Mine Planning's IPO is entirely an offer for sale, with Coal India planning to offload up to 107.1 million shares.

The company reported a profit of 4.25 billion rupees for a nine-month period ended December 2025, up roughly 9% from year-ago period.

   ($1 = 92.5100 Indian rupees)

 (Reporting by Vivek Kumar M; Editing by Sherry Jacob-Phillips)

 ((VivekKumar.M@thomsonreuters.com;))