The initial public offer (IPO) of Bharat Coking Coal (BCCL) received bids for 50,95,55,58,000 shares as against 34,69,46,500 shares on offer. The issue was subscribed 146.87 times.
The Qualified Institutional Buyers (QIB) category was subscribed 310.81 times, the Non-Institutional Investors category was subscribed 258.16 times, and the Retail Individual Investors category was subscribed 49.33 times.
The issue opened for bidding on 9 January 2026, and it closed on 13 January 2026. The price band of the IPO is fixed between Rs 21 and 23 per share.
The offer had been a pure offer-for-sale (OFS) of up to 46.57 crore equity shares of face value Rs 10 each by Coal India. At the upper price band of Rs 23 per equity share, Coal India had raised Rs 1,071 crore. The IPO had included a reservation of up to 2.32 crore equity shares for eligible employees and up to 4.66 crore shares for eligible shareholders of Coal India under the shareholder reservation portion.
Ahead of the IPO of Bharat Coking Coal on 8 January 2026, the company raised Rs 273.13 crore from anchor investors by allotting 11.87 crore shares at Rs 23 each to 15 anchor investors.
Bharat Coking Coal (BCCL) produces coking coal, non-coking coal, and washed coal. BCCL is India's largest producer of coking coal and operates primarily in the Jharia coalfields of Jharkhand and the Raniganj coalfields of West Bengal. It is the wholly owned subsidiary of Coal India and was conferred with Mini Ratna status in 2014.
The primary product is coking coal, catering to the steel and power industries. BCCL had an estimated coking coal reserve of approximately 7,910 million tonnes (mt) as of 01 April 2024. It accounted for 58.50% of the total domestic coking coal production in India in FY 2025.
For the six months ended 30 September 2025, the firm recorded a consolidated net profit of Rs 123.88 crore and sales of Rs 5,659 crore.