BusinessPhoto: Business StandardSouth Eastern Coalfields Files for $800 Million IPO
South Eastern Coalfields Ltd., a subsidiary of state-run Coal India Ltd., has filed a draft prospectus with the Securities and Exchange Board of India for an initial public offering. The IPO will involve the sale of up to 668.1 million shares by Coal India, with no fresh issuance. The offering could raise about $800 million, managed by SBI Capital Markets, ICICI Securities, IDBI Capital, and Motilal Oswal. This move is part of Coal India's plan to list its subsidiaries.
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