The Bharat Coking Coal Limited IPO opened for subscription today, January 9, 2026, and will remain open for three days until January 13, 2026.
The company is looking to raise around Rs 1,071 crore through this public issue.
Bharat Coking Coal Limited is a subsidiary of Coal India Limited and is a key supplier of coking coal to India’s steel industry.
IPO Structure and Subscription Status
The IPO is a book-built issue and is entirely an offer for sale of 46.57 crore shares.
This means the company itself will not receive any fresh funds, as the shares are being sold by its parent company, Coal India Limited.
At the upper end of the price band, the IPO values Bharat Coking Coal at a pre-IPO market capitalisation of about Rs 10,711 crore.
As of 11:00 am, the issue has been subscribed 1.81 times, with bids received for 62.86 crore shares against 34.69 crore shares on offer.
Price Band and Investor Details
The price band for the IPO has been set at Rs 21 to Rs 23 per share, with a face value of Rs 10.
Retail investors can apply for a minimum of one lot of 600 shares, which requires an investment of Rs 13,800 at the upper price band.
The maximum amount a retail investor can apply for is Rs 1.93 lakh.
Non-institutional investors must apply for larger lots, with the minimum investment starting at just over Rs 2 lakh.
Grey Market Premium and Listing Expectations
The grey market premium (GMP) for the Bharat Coking Coal IPO has declined in recent days.
On Friday, the GMP slipped to Rs 9.4 per share, down from its earlier peak of Rs 16.25.
Based on current GMP trends, the estimated listing price is around Rs 32.4 per share, which suggests a potential premium of nearly 40.87 percent over the upper price band.
However, GMP figures are unofficial and can change quickly.
Important Dates and IPO Management
The IPO allotment is expected to be finalised on January 14, 2026.
Refunds and credit of shares to demat accounts are likely to take place on January 15.
IDBI Capital Markets Services is the book-running lead manager for the issue, while Kfin Technologies is acting as the registrar.
About Bharat Coking Coal Limited
Founded in 1972, Bharat Coking Coal Limited is India’s largest producer of coking coal, contributing about 58.5 percent of the country’s domestic output in FY25.
The company operates 34 mines across Jharkhand and West Bengal and plays a critical role in supplying coal to the steel sector, making it an important player in India’s core industrial ecosystem.
