Three more PSUs headed for stock market: Govt plans IIFCL, Mahanadi Coalfields, SECL listing in FY27

The Centre plans to list three more public sector companies on the stock exchanges during the current financial year, Moneycontrol reported on Sunday.

India Infrastructure Finance Company Ltd (IIFCL), Mahanadi Coalfields Ltd (MCL) and South Eastern Coalfields Ltd (SECL) are being prepared for listing, Arunish Chawla, Secretary of the Department of Investment and Public Asset Management (DIPAM), told Moneycontrol.

The draft red herring prospectus (DRHP) for Mahanadi Coalfields has already been filed, while preparations for the other two listings are underway. Chawla said all three companies were market-ready.

"We have done a lot of OFSs this year. So, we decided, let us do two-three big listings," Chawla said, referring to the government's offers for sale of shares in already-listed public sector companies.

The proposed listings mark a shift towards bringing new state-owned businesses to the stock market, alongside the government's ongoing stake-sale programme.

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Which three PSUs are headed for listing?

India Infrastructure Finance Company Ltd (IIFCL): Established in 2006, IIFCL is a wholly government-owned financial institution that provides long-term funding for infrastructure development. It finances projects across sectors such as roads, power, and other infrastructure, including public-private partnerships. Its proposed listing would give investors exposure to India's infrastructure financing business.

Mahanadi Coalfields Ltd (MCL): A subsidiary of Coal India Ltd, MCL is headquartered in Sambalpur, Odisha. Incorporated in 1992, the company operates coal mines in the Talcher and Ib Valley coalfields. Its proposed listing would allow investors to participate directly in the performance of a major coal-producing subsidiary of Coal India.

South Eastern Coalfields Ltd (SECL): Another Coal India subsidiary, SECL is headquartered in Bilaspur, Chhattisgarh. Established in 1985, the company operates coal mines primarily in Chhattisgarh and Madhya Pradesh. Its listing would provide a separate investment opportunity in Coal India's coal production operations.

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Second public InvIT planned for FY27

Alongside the three PSU listings, the government is preparing to launch its second public infrastructure investment trust (InvIT) during FY2026-27.

The proposed trust will be backed by identified stretches of national highways.

The move follows the government's first public InvIT offering in March 2026, which raised approximately ₹9,200 crore.

InvITs allow investors to invest in infrastructure assets that generate income, providing a way to mobilise capital from the market while recycling funds into infrastructure development.

Earlier this month, the Centre approved the sale of a combined 60.72% stake in IDBI Bank to Canada's Fairfax Financial Holdings for approximately ₹52,878 crore. The transaction includes a 30.48% stake held by the government and a 30.24% stake held by LIC.

Chawla has said the transaction is expected to be completed by the end of FY27, subject to regulatory clearance from the RBI.