Coal India Ltd to divest 25% stake in BCCL; plans subsequent listing

State-owned CIL on Thursday said it is planning to divest 25 per cent stake in its unlisted arm Bharat Coking Coal Ltd (BCCL) and will go for the subsequent listing of the subsidiary on stock exchanges after obtaining further clearances.

A meeting of the board of directors to this effect was held on March 10, 2022, Coal India Ltd (CIL) said in a regulatory filing.

“As advised by MoC (Ministry of Coal), CIL Board in its 438th meeting held on March 10, 2022 had accorded its ‘in-principle’ approval to divest 25 per cent of paid-up share capital of BCCL held by CIL and its subsequent listing on stock exchanges and advised to forward the proposal to Ministry of Coal for obtaining further clearances,” the filing said.