Coal India's consultancy unit CMPDI to be first to go public

Coal India Ltd will sell as much as 10% of its holding in mining consultancy unit Central Mine Planning & Design Institute Ltd (CMPDI) through an initial public offering (IPO).

- Bloomberg

The Ranchi-based unit of the world's biggest coal miner had filed its draft prospectus for the selling of as many as 71.4 million equity shares through the offering.

CMPDI will be the first Coal India unit to go public as part of the state-owned company's plan to separately list the shares of its units on the stock exchanges.