The Bharat Coking Coal IPO has captured significant attention from investors, crossing 12 times subscription on its second day of bidding. The IPO, aimed at raising Rs 1,071 crore, reflects strong market demand for the wholly-owned subsidiary of Coal India, India’s largest coking coal producer.
Investors rushed to secure shares, with total bids for 417.48 crore shares against the offer size of 34.69 crore shares as of 10.18 am on Day 2. The overwhelming response highlights the appetite for public offerings in the energy and mining sector.
Market Performance
The IPO performance on Day 2 can be summarized as follows:
- Total IPO Size: Rs 1,071.11 crore
- Shares on Offer: 46.57 crore equity shares (Offer for Sale)
- Day 2 Subscriptions: 12x of total offer size
Investor interest was broad-based:
- Non-Institutional Investors (NII): Reserved portion booked 29x
- Retail Individual Investors (RII): Subscribed 12x of their quota
- Existing Shareholders: Booked 15x of their portion
- Qualified Institutional Buyers (QIB): Portion booked 33%
This mix of participation shows strong confidence in the IPO across retail and institutional segments, reflecting the company’s market presence and sector importance.
Company Details
Bharat Coking Coal Limited (BCCL) operates as a Mini Ratna company and is a key subsidiary of Coal India Limited. It is recognized as the largest producer of coking coal in India, a crucial resource for steel and industrial production.
The IPO details are as follows:
- Issue Type: Offer for Sale (OFS) by promoter Coal India
- Total Funds to be Raised: Rs 1,071.11 crore
- Equity Shares on Offer: 46.57 crore shares
- Price Band: Rs 21–23 per share
- Minimum Investment: 600 shares (Rs 12,600 at upper price band)
- IPO Open Dates: January 9 – January 13, 2026
- Listing Date: January 16, 2026
- Exchanges: BSE & NSE
At the upper price band, BCCL’s market valuation exceeds Rs 10,700 crore, underscoring its dominant position in the domestic coal industry.
Key Highlights of the IPO
The IPO structure and subscription pattern provide insights into investor sentiment:
- Entire IPO raised through Offer for Sale, with no fresh issue of shares
- Strong interest from retail and non-institutional investors
- Shares allotted in multiples of 600, making it accessible for retail investors
- Quick allotment and listing process, with shares scheduled to list by January 16, 2026
This IPO reflects both investor confidence in the coal sector and the strategic role of BCCL in India’s industrial supply chain.
Summary
The Bharat Coking Coal IPO has emerged as one of the most subscribed offerings in early 2026. With strong investor participation across segments and a clear, accessible pricing structure, it highlights the demand for shares in established, market-leading public sector companies.
BCCL’s position as India’s largest coking coal producer and a Mini Ratna company adds credibility and visibility among investors. With listing scheduled shortly, market watchers will track its performance closely, but the Day 2 subscription already signals robust investor appetite.
Source: Moneycontrol
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