Bharat Coking Coal IPO
Bharat Coking Coal IPO is a book build issue of ₹1,071.11 crores. The issue is entirely an offer for sale of 46.57 crore shares of ₹1,071.11 crore. Bharat Coking Coal IPO opens for subscription on Jan 9, 2026 and closes on Jan 13, 2026. The allotment for the Bharat Coking Coal IPO is expected to be finalized on Jan 14, 2026. Bharat Coking Coal IPO will list on BSE, NSE with a tentative listing date fixed as Jan 16, 2026. Bharat Coking Coal IPO price band is set at ₹21 to ₹23 per share. The lot size for an application is 600. The minimum amount of investment required by an retail is ₹13,800 (600 shares) (based on upper price). The lot size investment for sNII is 15 lots (9,000 shares), amounting to ₹2,07,000, and for bNII, it is 73 lots (43,800 shares), amounting to ₹10,07,400. IDBI Capital Markets Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Total Shares
46,57,00,000
Issue Size
₹1,071 Cr
Price Band
₹21 – ₹23
Lot Size
600 shares
Min. Investment
₹13,800
Max. Investment
₹1,93,200
Open Date
09 Jan, 2026
Close Date
13 Jan, 2026
Allotment
14 Jan, 2026
Listing
16 Jan, 2026
Max. Investment
₹1,93,200
Announced
09 Jan, 2026
Opening Date
09 Jan, 2026
Closing Date
13 Jan, 2026
Basis of Allotment
14 Jan, 2026
Initiation of Refunds
15 Jan, 2026
Credit of Shares
15 Jan, 2026
Listing Date
16 Jan, 2026
Live GMP
Est. Listing: ₹33
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Incorporated in 1972, Bharat Coking Coal Limited (BCCL) is engaged in the production of coking coal, non-coking coal, and washed coal. The company is a wholly-owned subsidiary of Coal India Limited.
As of September 30, 2025, the company operates a network of 34 operational mines, including four underground, 26 opencast, and four mixed mines.
The company's primary product is coking coal, catering to the steel and power industries. As of April 1, 2024, BCCL has an estimated coking c
Issue Breakdown
Shareholding
Dilution: 0.0% increase in shares
Investors can bid for a minimum of 600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹13,800 |
| Retail (Max) | 14 | 8400 | ₹1,93,200 |
| S-HNI (Min) | 15 | 9000 | ₹2,07,000 |
| S-HNI (Max) | 72 | 43200 | ₹9,93,600 |
| B-HNI (Min) | 73 | 43800 | ₹10,07,400 |
(All values in CR)
KPI as of Mon, Mar 31, 2025.
| Metric | Value |
|---|---|
| ROCE | 30.13 |
| RoNW | 20.83 |
| PAT Margin | 8.61 |
| EBITDA Margin | 16.36 |
| Price to Book Value | 1.63 |
(All values in CR)
Subsidiary of Coal India with strong parentage and government backing
One of the key domestic suppliers of coking coal used in steel manufacturing
Strategic importance due to limited availability of coking coal in India
Stable demand supported by core industries such as steel and infrastructure
Established mining assets with long operational history
Strong cash-generating business model as a PSU coal producer
High visibility and trust among institutional and retail investors
Issue structured as offer for sale with no direct fund infusion for the company
Business exposed to regulatory and environmental policy changes
Dependence on steel sector demand cycles
Operational risks linked to mining activities and land acquisition
Government control may limit pricing flexibility and strategic decisions
Market performance sensitive to global coal and commodity sentiment
Bharat Coking Coal IPO subscribed 76.41 times. The public issue subscribed 42.13 times in the retail category, 48.11 times in QIB (Ex Anchor), and 222.65 times in the NII category by January 13, 2026 1:43:54 PM (Day 3).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor | 1.00 | 11,87,53,500 | 11,87,53,500 | 273.13 |
| QIB (Ex Anchor) | 48.11 | 7,91,69,000 | 3,80,89,89,600 | 8 |
| Non-Institutional Buyers | 222.65 | 5,93,76,750 | 13,22,04,26,400 | 30 |
| bNII (bids above ₹10L) | 237.82 | 3,95,84,500 | 9,41,39,49,600 | 21 |
| sNII (bids below ₹10L) | 192.32 | 1,97,92,250 | 3,80,64,76,799 | 8 |
| Retail | 42.13 | 13,85,45,750 | 5,83,72,12,200 | 13 |
| Employees | 4.20 | 2,32,85,000 | 9,77,41,200 | 224.8 |
| Shareholders | 76.11 | 4,65,70,000 | 3,54,46,08,000 | 8 |
| Total | 76.41 | 34,69,46,500 | 26,50,89,77,400 | 60 |
Bharat Coking Coal IPO last GMP is ₹10, last updated Jan 13th 2026 01:02 PM. With the price band of 23.00, Bharat Coking Coal IPO's estimated listing price is ₹33 (cap price + today's GMP).The expected percentage gain/loss per share is 43.48%. >> Bharat Coking Coal IPO Retail Subject to Sauda: ₹4600 >> Bharat Coking Coal IPO Small HNI Subject to Sauda: ₹69000 The current GMP (₹10) is showing signals towards the lower side. The lowest GMP is ₹9.25, while the highest GMP is ₹16.25.
Last updated 13 Jan, 2026 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 13 Jan, 2026 | 23 | ₹10▼ | 4600/69000 | ₹33 (43.48%) | 6000 | 13 Jan, 2026 |
| 12 Jan, 2026 | 23 | ₹10.6 | 4800/72000 | ₹33.6 (46.09%) | 6360 | 12 Jan, 2026 |
| 11 Jan, 2026 | 23 | ₹10.6▲ | 4800/72000 | ₹33.6 (46.09%) | 6360 | 11 Jan, 2026 |
| 10 Jan, 2026 | 23 | ₹10.4▲ | 4700/70500 | ₹33.4 (45.22%) | 6240 | 10 Jan, 2026 |
| 09 Jan, 2026 | 23 | ₹10▲ | 4600/69000 | ₹33 (43.48%) | 6000 | 09 Jan, 2026 |
| 08 Jan, 2026 | 23 | ₹9.25▼ | 4200/63000 | ₹32.25 (40.22%) | 5550 | 08 Jan, 2026 |
| 07 Jan, 2026 | 23 | ₹11.4▼ | 5200/78000 | ₹34.4 (49.57%) | 6840 | 07 Jan, 2026 |
| 06 Jan, 2026 | 23 | ₹11.5▼ | 5200/78000 | ₹34.5 (50.00%) | 6900 | 06 Jan, 2026 |
| 05 Jan, 2026 | 23 | ₹13.5▼ | 6200/93000 | ₹36.5 (58.70%) | 8100 | 05 Jan, 2026 |
| 04 Jan, 2026 | 0 | ₹16.25▲ | - | ₹16.25 (0.00%) | - | 04 Jan, 2026 |
| 03 Jan, 2026 | 0 | ₹13 | - | - | - | 03 Jan, 2026 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
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