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Coal Giant SECL Set for Stock Market Debut
23 Dec
Summary
- Coal India's board has approved the in-principle listing of SECL.
- SECL is pioneering paste fill technology for sustainable mining.
- SECL will be the first coal PSU to adopt this advanced technique.
Coal India Limited's board has granted in-principle approval for the listing of its subsidiary, South Eastern Coalfields Limited (SECL). This decision follows guidance from the Ministry of Coal to list subsidiaries like SECL in the upcoming financial year. The proposed listing is contingent upon regulatory approvals, including those from SEBI.
SECL, which operates mines primarily in Chhattisgarh and Madhya Pradesh, is notably set to become the first coal public sector undertaking in India to adopt paste fill technology. This advanced underground mining method aims for environmental sustainability by filling mined-out voids, thereby preventing land subsidence.
This innovative technology implementation involves a significant agreement worth Rs 7,040 crore. SECL's successful listing and adoption of modern mining practices mark a significant development for India's coal sector and its move towards greener operations.
