SECL seeks banks for proposed IPO worth about Rs.10,000 crore
South Eastern Coalfields Ltd (SECL), a Coal India subsidiary, has begun appointing bookrunning lead managers for a proposed IPO expected to total about Rs.8,000–10,000 crore. The plan includes an offer for sale of at least 10% of Coal India’s holdings in SECL and potential fresh issuance of about 5%, with Coal India aiming to divest up to 25% over time.