Coal India has informed stock exchanges about the progress in the IPO plans for its subsidiaries, Bharat Coking Coal and Central Mine Planning and Design Institute.
Lead bankers have been appointed for the IPOs, and the Draft Red Herring Prospectus (DRHP) is under preparation.
Coal India's director mentioned that the company is working on filing the DRHP soon.
The coal ministry had announced earlier that the listing of both BCCL and CMPDI will occur based on market conditions.