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News Topical, Digital Desk : State-owned Bharat Coking Coal Limited, a subsidiary of Coal India, the country's largest coal producer, has filed a Red Herring Prospectus (RHP) with the Registrar of Companies for its first mainboard IPO of 2026. The company's IPO will open on January 9th. The issue will be a pure offer-for-sale (OFS), under which promoter Coal India will sell 465.7 million equity shares. This IPO does not involve a fresh issue, so the entire proceeds will go to Coal India, and the company will not receive any new capital.
The offering represents 10% of the company's total paid-up equity capital. The IPO reserves 23.2 million shares for employees and 46.5 million shares for existing shareholders. The book for anchor investors will open on January 8, while public subscription will continue until January 13. Share allotment is expected to be finalized on January 14, and the company's shares will be listed on the BSE and NSE from January 16. Bharat Coking Coal is the country's largest coking coal producer, contributing 58.5% to domestic coking coal production in FY25. The company was established in 1972 and mines and supplies coal in the Jharia coalfields in Jharkhand and the Raniganj coalfields in West Bengal. Regarding financial performance, the company's profit declined by 20.7% to ₹1,240.2 crore in FY25, while revenue fell 3.1% to ₹13,802.6 crore. In the first half of the current fiscal year 2025-26, profit fell 83.5% to Rs 123.9 crore, and revenue declined 17.3%. IDBI Capital Markets & Securities and ICICI Securities are acting as book running lead managers for this IPO.
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