The Prime Minister’s Office (PMO) has directed the Ministry of Coal to map and list all subsidiaries of state-run Coal India Limited (CIL) by 2030, according to sources. The move is aimed at streamlining governance, improving accountability and unlocking value through asset monetisation within the coal public sector undertaking. Coal India Limited accounts for more than 80 per cent of India’s domestic coal production and operates through eight subsidiaries: Eastern Coalfields Limited, Bharat Coking Coal Limited (BCCL), Central Coalfields Limited, Western Coalfields Limited, South Eastern Coalfields Limited (SECL), Northern Coalfields Limited, Mahanadi Coalfields Limited (MCL), and Central Mine Planning and Design Institute Limited (CMPDIL). Highly placed sources said there is a clear instruction from the PMO to list all Coal India arms by 2030 as part of broader governance reforms. Preparations for the initial listings are already under way, with BCCL and CMPDIL expected to be listed on stock exchanges by March 2026. Sources added that both domestic and international roadshows for BCCL have been completed and the listing process is progressing without delays. In a recent regulatory filing, Coal India said its board of directors has approved the listing of SECL and Mahanadi Coalfields. This follows a directive from the Ministry of Coal asking CIL to initiate concrete steps to ensure the listing of these two key subsidiaries in the next financial year. Bharat Coking Coal Limited had earlier filed its draft red herring prospectus (DRHP) with market regulator SEBI for a proposed initial public offering. According to Coal India, the DRHP relates to an offer for sale of up to 465.7 million equity shares by the parent company. The IPO is subject to regulatory approvals, market conditions and other considerations. Central Mine Planning and Design Institute Limited has also submitted its DRHP to SEBI for its proposed IPO through the offer-for-sale route. Meanwhile, Coal India Limited is targeting coal production of 875 million tonnes in the current financial year, as it continues to play a dominant role in meeting the country’s energy needs.