Coal India Limited (NSEI:COALINDIA) said on May 26, 2022 it is planning to divest 25% stake in its unlisted arm Bharat Coking Coal Limited (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% 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.

Stating that the company's board had given only "in principle" approval to the proposal, CIL said that only after getting further clearance from the government, subsequent action would be initiated. "On receipt of further clearance from MoC (Ministry of Coal) the same would be placed to CIL board and the decision of CIL board would be promptly disseminated to stock exchanges," the filing said.