Bharat Coking Coal IPO: Investors rush in, gray market buzzes
Bharat Coking Coal Limited's (BCCL) IPO is seeing huge demand—subscribed nearly 23 times by day two.
Both retail and big investors are piling in, drawn by BCCL's crucial role as a top supplier of coking coal for India's steel industry.
Grey market signals strong listing hopes
BCCL shares are trading at a premium of ₹11.5 in the gray market, hinting at a possible listing price near ₹34.5—almost 50% above the highest issue price of ₹23.
This big gap shows investors expect solid gains if they get an allotment.
What does BCCL do?
BCCL is all about coking coal, which is essential for making steel.
It's fully owned by Coal India Limited (CIL), a government-run giant.
The IPO has become one of early 2026's most-watched events, with traders closely tracking every update.
Key IPO details
The IPO runs January 9-13, priced at ₹21-23 per share with a minimum lot of 600 shares. It's an offer-for-sale by CIL aiming to raise up to ₹1,071.11 crore.
Allotment results come out January 14; refunds and demat credits on January 15; and the stock is expected to list shortly after allotment and demat credits, with the exact date to be confirmed by the exchanges.