New Delhi, May 27 -- State-run Coal Mine Planning and Design India Ltd has filed the draft red herring prospectus for its initial public offering.

Coal India, the parent, plans to offload 71. 4 million equity shares in the company, the coal miner said in a regulatory filing with the Securities and Exchange Board of India. The filing is subject to applicable approvals, market conditions and other relevant considerations, it said.

Coal Mine Planning and Design India (CMPDI), a consultancy firm in the coal mining space, would not receive any proceeds from the offer as the IPO would only involve offloading of shares by its parent, which currently owns 100% of its, showed the draft prospectus.

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