The initial public offering (IPO) of Bharat Coking Coal Limited (BCCL), a wholly owned subsidiary of Coal India Limited and the country’s largest coking coal producer, has opened for investors from Friday, January 9. This IPO has spread its glory as soon as it came. It became full in just half an hour. This is the first mainboard IPO of the year 2026, in which investors can apply till January 13. This IPO is completely an Offer for Sale (OFS), under which Coal India is selling 100% of its stake. The company has fixed the price band of the IPO at ₹21 to ₹23 per share. The issue aims to raise around ₹1,071 crore at the upper price band.
Raised ₹273.1 crore from anchor investors
Bharat Coking Coal has raised ₹273.1 crore from anchor investors ahead of the IPO. Under this, 11,87,53,500 equity shares have been allotted to anchor investors at the rate of ₹23 per share. According to the company, 50% of the total issue has been reserved for qualified institutional buyers (QIBs), 35% for non-institutional investors (NIIs) and the remaining 15% for retail investors.
Bharat Coking Coal IPO Subscription Update
Bharat Coking Coal’s IPO seems to be getting a good initial response from investors. In the first half hour of the first day of bidding, this public issue was subscribed a total of 1.81 times. The highest demand was seen from non-institutional investors (NII), where this share was filled 2.02 times. Whereas the quota of retail investors was subscribed 1.52 times. On the other hand, the qualified institutional buyers (QIB) segment saw limited participation as this portion was subscribed only 0.01 times.
GMP of BCCL IPO
According to the news of livemint, the latest gray market premium i.e. GMP of Bharat Coking Coal IPO is being said to be ₹ 9.25. If the stock lists at the upper price band of ₹23, its estimated listing price could be around ₹32.25. On this basis, investors see the possibility of listing gain of up to 40.22%.
know the company
According to CRISIL report, BCCL remained India’s largest coking coal producing company in the financial year 2025. The company’s coal production stood at 15.75 million tonnes in the six months ending September 30, 2025, compared to 19.09 million tonnes in the same period a year ago. As of September 30, 2025, the company was operating a total of 34 mines across the country, including 4 underground mines, 26 opencast mines and 4 mixed mines.
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