The government is stepping up its disinvestment drive in the coal sector, prioritising the listing of public sector undertakings (PSUs) under the administrative control of the Coal Ministry. According to exclusive sources, the Department of Investment and Public Asset Management (DIPAM) and the Coal Ministry have held key meetings to finalise the sequence of upcoming listings. This accelerated approach represents a significant shift in the government's strategy to unlock value in the coal sector through public market access.
NIRL, a subsidiary of NLC India Ltd, is likely to be the next PSU to debut on the exchanges in FY27, with a potential timeline of November 2026. As reported by ET Now, sources added that the government is also actively working on the listing pipeline for subsidiaries of Coal India Ltd (CIL). Mahanadi Coalfields Ltd (MCL) is expected to be the third subsidiary to be listed, followed by Southeastern Coalfields Ltd (SECL) as the fourth. MCL may hit the markets by the end of FY27.
Notably, two CIL subsidiaries - CMPDIL and BCCL have already been listed on the exchanges, and the process has now been initiated for other companies in the pipeline. According to ET Now, DIPAM and the Coal Ministry have begun preliminary discussions with investors, aiming to assess market appetite. Officials indicated that a minimum gap of three months will be maintained between successive listings to ensure smooth absorption.
However, the pace of the listing process has slowed amid prevailing market conditions. As reported by ET Now, the government is expected to accelerate the disinvestment push once market sentiment improves, underscoring its calibrated approach to unlocking value in the coal sector. This measured approach reflects the government's sensitivity to market timing and investor readiness for coal sector PSU listings.
