Bharat Coking Coal Limited (BCCL), a subsidiary of Coal India, on Monday set a price range of Rs 21 to Rs 23 per share for its upcoming initial public offering (IPO). The company aims to raise a total of Rs 1,071 crore through this IPO. At the highest price range of this proposed IPO of the company, the total valuation of BCCL will be more than Rs 10,700 crore. This IPO will open on January 9 and close on January 13. The bidding process for anchor investors will be held on January 8.
First public issue of the year
This IPO of BCCL will be the first public issue of 2026 and will be closely watched on Dalal Street as it will be considered an early indicator of investor interest for public sector companies (PSUs) in the new year. Under this offer, Coal India is making an offer for sale (OFS) of 46.57 crore equity shares, which would amount to Rs 1,071.11 crore, if valued at the upper price range. BCCL’s IPO is part of the government’s broader divestment efforts, designed to promote value creation and market transparency in Coal India’s subsidiaries.
Listing and Allocation
BCCL will debut in the stock market on January 16. Half of the IPO has been reserved for qualified institutional buyers (QIBs), 35 per cent for non-institutional investors and the remaining 15 per cent for retail investors.
Introduction to BCCL
BCCL is projected to be India’s largest coking coal producer in 2025, according to a CRISIL report. The company produced 15.75 million tonnes of coal in the six months ended September 30, 2025, compared to 19.09 million tonnes in the same period last year. The company has a network of 34 operational mines, which include 4 underground mines, 26 opencast mines and 4 mixed mines.
Last year’s trends were taken into account
This proposal of BCCL is coming in view of the record of last year’s IPO market, when companies raised about Rs 1.76 lakh crore through IPO in 2025. This was higher than Rs 1.6 lakh crore raised in 2024 and Rs 49,436 crore raised in 2023. This figure was possible due to strong domestic liquidity, investor morale and positive macroeconomic environment.
How much is GMP running?
According to investorgain, the gray market premium or GMP of BCCL shares was seen at 71.74% at 1:35 pm on January 5. That means its listing can be at a much higher level than the share price.
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