SECL IPO: Coal India to sell up to 66.81 crore shares in offer for sale

South Eastern Coalfields Ltd (SECL), a wholly owned subsidiary of Coal India Ltd, has filed draft papers for an initial public offering (IPO) with the market regulator. Coal India disclosed the filing to the stock exchanges on November 2, 2026. The SECL IPO is an offer for sale of up to 66.81 crore equity shares, all held by Coal India, with a face value of Rs 2 each.

SECL IPO: what the filing says

The filing states that the draft red herring prospectus (DRHP), dated November 1, 2026, was filed with SEBI, BSE and NSE. The offer comprises up to 668,056,100 shares. Because it is an offer for sale, SECL will not issue new shares, so the money raised goes to the selling shareholder, Coal India, not to SECL.

The filing also says the IPO remains subject to approvals, prevailing market conditions and other considerations. It does not set a price band, an issue size in rupees, or dates. Those details normally come only in later filings.

What a DRHP is

A DRHP is the first public document in an IPO. It lays out the company’s business, financials, risks and the proposed share sale. The market regulator reviews it and can ask for changes before the company files the final prospectus. Only the final document, usually called the red herring prospectus (RHP), carries the price band and bidding dates.

Why the offer structure matters

In an offer for sale, Coal India would reduce its stake in SECL, and SECL itself would receive none of the proceeds. The IPO would also make SECL a separately listed company. Readers searching for the SECL IPO price or date should note that neither has been announced in the filing.

What to watch next

Watch for the regulator’s observations on the DRHP, then the RHP with the price band, lot size and bidding dates. Once dates are set, they will appear on the IPO calendar, along with the subscription and listing timetable for other offers.