STOCKS | Coal India Subsidiary South Eastern Coalfields Files for India IPO

South Eastern Coalfields Ltd. has filed a draft prospectus for an initial public offering with India’s market regulator. According to Sina Finance, the prospectus submitted to the Securities and Exchange Board of India says the offering will consist entirely of existing shares sold by parent Coal India, with no new shares issued. Coal India plans to sell up to 668.1 million shares. The joint bookrunners are SBI Capital Markets Ltd., ICICI Securities Ltd., IDBI Capital Markets & Securities Ltd., and Motilal Oswal Investment Advisors Ltd. People familiar with the matter said the IPO could raise up to $800 million.