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News Topical, Digital Desk : Bharat Coking Coal IPO: Bharat Coking Coal Limited's IPO is receiving an overwhelming response from investors. The IPO of this wholly-owned subsidiary of Coal India Limited was subscribed 24.37 times by the second day of bidding. The issue opened on January 9th and will remain open until tomorrow, January 13th. According to NSE data, by noon, bids had been placed for 845.64 crore shares, compared to the 34.69 crore shares on offer.
Retail investors have subscribed 21 times
their quota, while non-institutional investors have booked 65 times. The qualified institutional buyers segment has been subscribed 56% so far. Bharat Coking
Coal shares are trading at a premium of approximately 47% over the IPO price in the unofficial market. However, the gray market premium (Bharat Coal IPO GMP Premium) reflects the unlisted market only and is subject to fluctuations. Bharat Coking Coal IPO Price Band : This IPO is purely an offer for sale, through which parent company Coal India is selling its 10% stake. The issue price band has been fixed at ₹21 to ₹23 per share. The company aims to raise a total of ₹1,071 crore through the issuance of 465.7 million equity shares. Retail investors can apply for a minimum lot of 600 shares, requiring an investment of ₹13,800 at the upper price band. The IPO has a 35% reservation for retail investors, 50% for qualified institutional buyers, and 10% for non-institutional investors. Additionally, shares worth ₹107 crore have been reserved for eligible Coal India shareholders. Investors who were Coal India shareholders as of January 1, 2026, can apply for this quota. Eligible employees will receive a discount of ₹1 per share. The IPO listing is expected on January 16th. At the upper price band, the company's post-issue market cap is expected to be approximately ₹10,711 crore. After listing, Coal India's stake will be 90%, well above the minimum public shareholding. Bharat Coking Coal is India's largest producer of coking coal and accounted for approximately 58.5% of domestic production in FY25. The company primarily operates in Jharkhand's Jharia Coalfield and West Bengal's Raniganj Coalfield. Allotment is expected to be finalized on January 14th, and the shares are expected to list on January 16th.
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