Coal India's SECL Taps Banks for $800 Million Mumbai IPO

By EC Assets · Published 25 September 2026

Coal India's subsidiary, SECL, has selected banks for an $800 million initial public offering in Mumbai. This information was reported by Bloomberg. The move comes as other developments impact the Indian financial landscape. Bloomberg Index Services deferred the inclusion of Indian government bonds in its Global Aggregate Index. This decision disappointed investors who anticipated that recent tax changes would facilitate the inclusion. Despite the delay, U.S.-based asset manager Invesco holds a bullish view on Indian government bonds. Invesco, one of the largest asset managers globally, favors longer-dated Indian debt. India has also approved significant defense purchases. The country sanctioned weapons and military equipment acquisitions totaling US$25 billion. These purchases include Russian S-400 air defense missile systems. This information was reported by Bloomberg, Ministry of Defence of India. This article is intended for informational purposes only. It does not constitute investment advice.