Bharat Coking Coal IPO: Investors show huge appetite, strong listing likely
Bharat Coking Coal Limited (BCCL) just wrapped up a blockbuster IPO, with demand outpacing supply by nearly 147 times.
The issue size was ₹1,071.11 crore at a price band of ₹21-23 per share, structured entirely as an offer for sale whose proceeds went to the selling shareholder, Coal India Limited; the company did not receive the funds.
Big investors led the charge—QIBs subscribed over 310 times their quota, while retail and non-institutional buyers also piled in.
What does BCCL do?
BCCL is India's largest coking coal producer, accounting for about 58.50% of India's domestic coking coal production in FY25.
With a network of mines across Jharkhand and West Bengal and reserves of nearly 8 billion tons, it's a major player in the energy sector.
The IPO ran January 9-13; shares are set to list January 19 after allotments on January 14.
Other details
The gray market premium for BCCL shares has hovered around ₹11.5-14.2 above issue price, suggesting a possible debut at ₹34.5-37.2 per share—roughly 50% to 61.7% above the top offer price.
All signs point to an energetic start for BCCL on the stock market this week.