Coal India's arm files IPO papers with Sebi; promoter to offload shares
South Eastern Coalfields Ltd (SECL), an arm of Coal India Ltd, has filed preliminary papers with markets regulator Sebi for its Initial Public Offering (IPO).
South Eastern Coalfields Ltd (SECL), an arm of Coal India Ltd, has filed preliminary papers with markets regulator Sebi for its Initial Public Offering (IPO).
The proposed IPO is entirely an Offer For Sale (OFS) of up to 66.81 crore equity shares by its promoter Coal India with no fresh issue component, according to the Draft Red Herring Prospectus (DRHP) dated November 1.
Since the issue is entirely an OFS, SECL will not receive any proceeds from the offering, with the entire proceeds going to Coal India.
