BCCL IPO GMP: The IPO of Bharat Coking Coal Limited (BCCL) closed today. The IPO of this subsidiary company of the government coal company Coal India Limited Company got overwhelming support from the investors. According to NSE data, BCCL’s IPO has received a total subscription of 146.87 times. BCCL’s IPO has received maximum subscription of 310.81 times from QIB category investors, 258.16 times from NII category investors, 49.33 times from retail investors, 5.18 times from company employees and 87.29 times from shareholders. BCCL’s IPO opened last week on January 9.
BCCL’s IPO was over-subscribed shortly after opening.
BCCL’s IPO was over-subscribed, i.e. completely subscribed, shortly after its opening. The IPO of the government company received 8.08 times subscription on the first day and 33.60 times subscription on the second day. BCCL has fixed the price band of Rs 21-23 for each share with a face value of Rs 10 under its IPO. BCCL is going to raise a total of Rs 1071 crore from this IPO, for which a total of 46,57,00,000 shares will be issued. This IPO is completely OFS based and there will be no new shares in it.
GMP price crossed 46 percent
After the closure of the IPO on January 13, the allotment of shares will be done on January 14 and the shares will be credited to the demat account on January 15. Finally, on Friday, January 16, this government coal company will be listed on the country’s major exchanges BSE and NSE. On the basis of bumper support received from investors, BCCL’s IPO is getting excellent response in the gray market also. On Tuesday, January 13, shares of BCCL are trading with a GMP of Rs 10.60 (46.09 per cent). However, there may still be a lot of fluctuations in it.
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