Bharat Coking Coal Ltd IPO Soars with 8x Subscription

The IPO of Bharat Coking Coal Ltd, a subsidiary of Coal India, was fully subscribed within minutes of opening. It received an overwhelming eight times the offered shares. The IPO aims to unlock value and provide transparency. The Rs 1,071 crore issue concludes on January 13.

Bharat Coking Coal Ltd (BCCL), a branch of Coal India, witnessed a highly successful initial public offering (IPO) that soared to full subscription within minutes of its opening on Friday. By the end of the day, it saw an impressive eightfold subscription level.

More than 2.80 billion bids were placed against an offer of 346.9 million shares, according to data from the National Stock Exchange (NSE). While non-institutional investors subscribed at over 16 times the available shares, the allotment for Retail Individual Investors saw 9.26 times the subscription. Qualified Institutional Buyers acquired 30% of their designated allotment.

The Rs 1,071-crore IPO, heralded as the first major market issue of 2026, culminates on January 13, with a set price band between Rs 21 to Rs 23 per share. This initiative forms part of a larger government divestment strategy within the coal industry, designed to enhance transparency and unlock value within Coal India subsidiaries.

(With inputs from agencies.)