Coal India’s board has granted in-principle approval to divest up to 25% stake in its subsidiary South Eastern Coalfields Ltd (SECL) through an Offer for Sale (OFS), along with a fresh equity issuance of up to 10% via IPO or other market routes.

The total divestment, amounting to as much as 35% of SECL’s post-issue paid-up equity capital, will be executed in one or more tranches in the domestic market.