Bharat Coking Coal IPO closes with bumper demand; issue subscribed nearly 147 times on Day 3
- 13th January 2026
- 07:00 PM
- 2 min read
Summary
Bharat Coking Coal Limited’s IPO closed on Tuesday, January 13, with overwhelming demand across investor categories on the final day of bidding. The issue was subscribed nearly 147 times, while grey market premium remained firm ahead of allotment due on January 14.Mumbai | January 13
The initial public offering of Bharat Coking Coal Limited (BCCL), a wholly owned subsidiary of Coal India Limited, closed for subscription on Tuesday, January 13, with robust demand across investor categories on the final day of bidding.
At the end of Day 3, the ₹1,071 crore IPO was subscribed 146.80 times, driven by heavy participation from qualified institutional buyers and non-institutional investors.
The issue was offered in a price band of ₹21–₹23 per share and comprised an entirely offer-for-sale by Coal India.
At the upper end of the price band, Coal India is expected to receive around ₹1,071 crore from the divestment.
Subscription highlights
According to exchange data, subscription was led by institutional investors, with strong participation from retail investors as well.
- Qualified Institutional Buyers (QIBs): 310.81 times
- Non-Institutional Investors (NIIs): 258.02 times
- Retail Individual Investors (RIIs): 49.25 times
- Shareholder reservation portion: 87.20 times
- Employee reservation portion: 5.17 times
- Overall subscription: 146.80 times
Grey market premium (GMP) remains firm
In the unofficial grey market, Bharat Coking Coal shares were trading at a premium of around ₹10–₹11, translating into a 43–48% premium over the upper end of the issue price as of January 13, indicating positive listing expectations.
Allotment and listing timeline
- Basis of allotment: January 14, 2026
- Refunds / unblocking of ASBA funds: From January 15, 2026
- Listing on BSE and NSE: January 16, 2026
Investors can check the allotment status here.
About Bharat Coking Coal
Incorporated in 1972, Bharat Coking Coal Limited is India’s largest producer of coking coal, a key raw material for the steel industry. The company operates multiple underground and opencast mines, primarily in Jharkhand and West Bengal, and plays a critical role in meeting domestic coking coal requirements.
Investor focus shifts to allotment
With bidding now closed and subscription running into triple digits, investor attention will shift to the allotment process on January 14 and listing performance on January 16, amid strong institutional demand and firm grey market signals.
For IPO and post-listing market updates, follow PL Capital.
