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 public issue has already attracted strong interest from investors on its first day.
Bharat Coking Coal Limited is a subsidiary of Coal India Limited and is one of the most important companies in India’s coal and steel supply chain.
IPO Size, Structure, and Subscription Status
The company is raising around Rs 1,071 crore through this IPO.
It is a book-built issue and is completely an offer for sale of 46.57 crore shares by Coal India Limited.
Since no fresh shares are being issued, Bharat Coking Coal will not receive any new funds from the IPO.
At the upper price band, the company is valued at around Rs 10,711 crore.
As of 11:00 AM, the IPO was subscribed 1.81 times, with bids 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 fixed 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 investment allowed for retail investors is Rs 1.93 lakh.
Non-institutional investors must apply for larger lots, with the minimum investment starting at a little 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, it stood at Rs 9.4 per share, down from its peak of Rs 16.25.
Based on the current GMP, the stock is expected to list around Rs 32.4, implying a possible premium of nearly 40.87 percent over the upper price band.
However, GMP figures are unofficial and can change quickly, so investors should treat them with caution.
Allotment and Listing Timeline
The IPO allotment is likely to be finalised on January 14, 2026.
Refunds and the credit of shares to demat accounts are expected on January 15.
IDBI Capital Markets Services is the book-running lead manager for the issue, while Kfin Technologies is handling the registrar duties.
About Bharat Coking Coal Limited
Founded in 1972, Bharat Coking Coal Limited is India’s largest producer of coking coal, contributing nearly 58.5 percent of the country’s total production in FY25.
The company operates 34 mines across Jharkhand and West Bengal and plays a critical role in supplying coal to India’s steel industry.
With its strong market position and early subscription momentum, the IPO is drawing close attention from both retail and institutional investors.
