IPO Details
| IPO Date | 9 to 13 Jan, 2026 |
| Listing Date | Fri, Jan 16, 2026 T |
| Face Value | ₹ 10 per share |
| Price Band | ₹21 to ₹23 |
| Lot Size | 600 Shares |
| Sale Type | Offer For Sale |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹ 1.00 |
| Total Issue Size | 46,57,00,000 shares (agg. up to ₹ 1,071 Cr) |
| Share Holding Pre Issue | 4,65,70,00,000 shares |
| Share Holding Post Issue | 4,65,70,00,000 shares |
IPO Subscription Details
| Anchor Investors | 1 |
| QIB (Ex Anchor) | 0.30 |
| Non-Institutional Buyers | 16.40 |
| bNII (bids above ₹10L) | 15.21 |
| sNII (bids below ₹10L) | 18.79 |
| Retail Investors | 9.31 |
| Employees | 0.83 |
| Shareholders | 10.88 |
| Total ** | 8.11 |
IPO Important Dates
| IPO Open | Fri, Jan 9, 2026 |
| IPO Close | Tue, Jan 13, 2026 |
| Allotment | Wed, Jan 14, 2026 |
| Refund | Thu, Jan 15, 2026 |
| Credit of Shares | Thu, Jan 15, 2026 |
| Listing | Fri, Jan 16, 2026 |
IPO Lot Size
| Retail (Min) | 1 | 600 | ₹13,800 |
| Retail (Max) | 14 | 8,400 | ₹1,93,200 |
| S-HNI (Min) | 15 | 9,000 | ₹2,07,000 |
| S-HNI (Max) | 72 | 43,200 | ₹9,93,600 |
| B-HNI (Min) | 73 | 43,800 | ₹10,07,400 |
Key Performance Indicator
| ROCE | |
| RoNW | 13.12 |
| PAT Margin | 1.96 |
| EBITDA Margin | 7.29 |
| Price to Book Value | 1.84 |
Peers Comparison
| Bharat Coking Coal Limited | 2.66 | 2.66 | 14.07 | | 20.83 | |
| Alpha Metallurgical Resources Inc | 1,233.78 | 1,222.65 | 11,182.10 | 14.87 | 11.48 | 1.63 |
| Warrior Met Coal, Inc | 410.12 | 410.12 | 3,423.71 | 19.44 | 12.82 | 2.33 |
Information about company
Incorporated in 1972, Bharat Coking Coal Limited (BCCL) is engaged in the production of coking coal, non-coking coal, and washed coal. The company is a wholly-owned subsidiary of Coal India Limited.
As of September 30, 2025, the company operates a network of 34 operational mines, including four underground, 26 opencast, and four mixed mines.
The company's primary product is coking coal, catering to the steel and power industries. As of April 1, 2024, BCCL has an estimated coking coal reserve of approximately 7,910 million tonnes. In Fiscal 2025, BCCL accounted for 58.50% of the total domestic coking coal production in India.
The company operates across Jharia, Jharkhand, and Raniganj, West Bengal, covering a total leasehold area of 288.31 square kilometres.
The company's operations include opencast and underground mining projects, coal washeries, monetisation of idle washeries through the Washery Developer and Operator (WDO) model, reopening discontinued underground mines through the Mine Developer and Operator (MDO) model, and solar power project monetisation through self-consumption and grid injection.
The company's coal production increased from 30.51 million tonnes in Fiscal 2022 to 40.50 million tonnes in Fiscal 2025. In Fiscal 2024, the company produced 39.11 million tonnes of coking coal and 1.99 million tonnes of non-coking coal.
Competitive Strenghts
Disclaimer
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Day Wise Sub
| Jan 9
, 2026 (Day 1) | 0.30 | 16.40 | 15.21 | 18.79 | 9.31 | 0.83 | 10.88 | 8.11 |
Day Wise GMP
| 10-01-2026 | 23.00 | 10(43.48%) | 33 |
| 09-01-2026 | 23.00 | 10(43.48%) | 33 |
| 08-01-2026 | 23.00 | 9.25(40.22%) | 32.25 |
| 07-01-2026 | 23.00 | 11.4(49.57%) | 34.4 |
| 06-01-2026 | 23.00 | 11.5(50.00%) | 34.5 |
| 05-01-2026 | 23.00 | 13.5(58.70%) | 36.5 |
| 04-01-2026 | 0 | 16.25(0.00%) | 16.25 |
| 03-01-2026 | 0 | 13(0.00%) | 13 |
IPO Reservation
| QIB Shares Offered | 19,79,22,500 (42.50%) |
| − Anchor Investor Shares Offered | 11,87,53,500 (25.50%) |
| − QIB (Ex. Anchor) Shares Offered | 7,91,69,000 (17.00%) |
| NII (HNI) Shares Offered | 5,93,76,750 (12.75%) |
| − bNII > ₹10L | 3,95,84,500 (8.50%) |
| − sNII < ₹10L | 1,97,92,250 (4.25%) |
| Retail Shares Offered | 13,85,45,750 (29.75%) |
| Employee Shares Offered | 2,32,85,000 (5.00%) |
| Shareholders Shares Offered | 4,65,70,000 (10.00%) |
| Total Shares Offered | 46,57,00,000 (100.00%) |
