Centre moots listing of CIL arm BCCL

New Delhi: The coal ministry has floated a draft cabinet note for seeking inter-ministerial views on the proposal to list 25 per cent shares of Coal India arm BCCL.

As a part of Coal India (CIL) restructuring, the government has decided for an initial listing of 25 per cent shares of Bharat Coking Coal Ltd (BCCL). "Draft cabinet note for initial listing of 25 per cent of shares of BCCL has been approved by the Minister of Coal," a source said, adding that "the draft cabinet note in respect of BCCL has been sent for IMC consultation."

A query sent to a Coal Ministry official on the same, remained unanswered till the filing of the story. CIL had last month said that it is planning to divest 25 per cent stake in its unlisted arm 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, CIL had said in a regulatory filing.