MUMBAI 1st NOVEMBER 2026 (GPN | SACHIN MURDESHWAR) : Chhattisgarh-based South Eastern Coalfields Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO).

The IPO, with a face value of Rs 2, is an offer-for-sale for up to 668,056,100 equity shares by promoter – Coal India Limited.

The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not more 15% and 35% of the net offer is assigned to non-institutional bidders and retail.

Incorporated in 1985, the company one of the largest coal producers in India in terms of production in Fiscal 2026, with production of 176.29 million tonnes of coal, accounting for 16.94% of India’s total coal production in Fiscal 2026 (Source – CRISIL Report). The company, a wholly owned subsidiary of Coal India Limited (CIL), is headquartered in Bilaspur, Chhattisgarh, and was conferred with Miniratna Category – I status on March 15, 2007 and in 2025, completed 40 years of coal mining operations.

The company is the second largest coal producer among CIL’s subsidiaries, accounting for 22.95% of CIL’s total coal production in Fiscal 2026 (Source – CRISIL Report). Its coal production increased by 5.25% from 167.49 million tonnes in Fiscal 2025 to 176.29 million tonnes in Fiscal 2026, representing the highest production growth among CIL’s subsidiaries during the period. (Source: CRISIL Report)

As of April 1, 2026, its total coal geological resources were approximately 47.55 billion tonnes, representing approximately 11.50% of India’s total coal geological resources, of which approximately 10.93 billion tonnes have been projectized (Source: DMT and CRISIL Report). Separately, as of April 1, 2026, its audited coal reserves stood at 4.61 billion tonnes and based on our Fiscal 2026 annual production level of 176.29 million tonnes, these audited coal reserves are sufficient to sustain our production operations for approximately 26 years (Source – DMT and CRISIL Report). Its Gevra and Kusmunda opencast mines in the Korba coalfield, Chhattisgarh, are among the largest coal mines in the world, having been ranked the second and fourth largest coal mines globally by production capacity, respectively, with Gevra mines recognised as Asia’s largest and world’s second largest coal mining operations in Fiscal 2026 (Source – CRISIL Report). The central location of its coalfields in Chhattisgarh and Madhya Pradesh, together with its substantial resource base, enables the company to provide a steady and reliable supply of non-coking coal to customers across northern, western and central regions.

The company holds approximately 59,022.44 hectares (590.22 square kilometres) of land inclusive of acquired and leased land Chhattisgarh, Madhya Pradesh and West Bengal. Its mining rights extend over approximately 126,529.81 hectares, comprising mining rights acquired under the Coal Bearing Areas (Acquisition and Development) Act, 1957, which are perpetual in nature, and 39 mining leases granted under the Mineral Concession Rules, 1960. The balance land holdings, whether vested or leased-in, are predominantly utilised for residential settlements and related infrastructure.

As of September 30, 2026, the company had 53 producing mines, comprising 19 opencast mines and 34 underground mines, across 13 operating areas within the Korba, Mand-Raigarh and Central India coalfields (Source – CRISIL Report).

For the six months ended September 30, 2026 and September 30, 2025 and for Fiscals 2026, 2025 and 2024, 91.76%, 92.69%, 93.64%, 92.91% and 93.61% of its total coal production, respectively, was from opencast mines.

Coal produced through continuous miners increased by 38.65% from 3.70 million tonnes in the six months ended September 30, 2025 to 5.13 million tonnes in the six months ended September 30, 2026. It has rail connectivity through the South East Central Railway zone of Indian Railways along with dedicated MGR systems and belt conveyors to pithead power stations, and rail corridors being developed through its subsidiaries, which enable efficient evacuation of coal across India.

Its evacuation infrastructure is also supported by an extensive road transportation network, with road dispatch accounting for 66.65 million tonnes, or 37.31% of its total coal dispatch, in Fiscal 2026. 

In line with its commitment to sustainability and environmental stewardship, it has implemented measures to minimize its ecological footprint.

Its revenue from operations for the six-months ended September 30, 2026 was Rs 16,593.7 crore as compared to Rs 15,090.2 crore. Its net profit was Rs 2,174.3 crore for the six-months ended September 30, 2026 as compared to Rs 1140.9 crore a year earlier.

Its revenue from operations was Rs 32,956.5 crore during FY26 as compared to Rs 29,998.3 crore in FY25. Its net profit was Rs 4,754.5 crore during FY26 as compared to Rs 4,540.4 crore in FY25.  

SBI Capital Markets Limited, ICICI Securities Limited, IDBI Capital Markets & Securities Limited and Motilal Oswal Investment Advisors Limited are the book-running lead managers. KFIN Technologies is the registrar of the offer. The equity shares are proposed to be listed on BSE and NSE.