Bharat Coking Coal IPO GMP Jumps As Issue Gets Fully Subscribed Within First Hour

Bharat Coking Coal Ltd’s (BCCL) initial public offering (IPO) was fully subscribed within the first hour of opening on January 9, reflecting strong interest from retail and non-institutional investors.

The BCCL IPO opened for bidding on January 9, 2026, and will remain open till January 13, 2026. It is a book-built issue worth Rs 1,071.11 crore and consists entirely of an offer for sale of 465.70 million shares by existing shareholders.

The price band for the Bharat Coking Coal IPO has been fixed at Rs 21–23 per share. Investors can apply in a lot size of 600 shares, translating into a minimum investment of Rs 13,800 for retail investors at the upper end of the price band.

IDBI Capital Markets Services Ltd is the book-running lead manager for the issue, while Kfin Technologies Ltd is acting as the registrar.

The allotment is expected to be finalised on January 14, 2026, and the shares are likely to list on the BSE and NSE on January 16, 2026.

Bharat Coking Coal IPO Subscription Status

By the end of the first day of bidding, the Bharat Coking Coal IPO was subscribed 8.09 times overall. Non-institutional investors (NIIs) led the demand, subscribing to 16.39 times their allotted quota, while retail investors booked 9.26 times their portion. On the other hand, the qualified institutional buyer (QIB) segment saw muted interest, with subscriptions at just 0.30 times so far.

The employee category was subscribed 0.83 times, while the Coal India shareholder portion was booked 10.86 times.

Bharat Coking Coal IPO GMP Today

Following the strong demand, the grey market premium of the Bharat Coking Coal IPO shares also jumped. As of 10:53 AM, BCCL IPO GMP stood at Rs 10.60 per share over the issue price, up from Rs 9.25 quoted on January 8.

Given the current GMP and the upper end of the price band, Rs 23, the BCCL IPO shares are expected to list at Rs 33.60 per share, representing a potential listing gain of over 46 per cent.

It is worth noting that GMP is not a guaranteed indicator of the listing price and can change quickly depending on market sentiment and investor interest.

Bharat Coking Coal IPO Objective

Since Bharat Cocking Coal IPO is an offer-for-sale issue, hence the proceeds of the public issue will go directly to the promoters participating in the offer.

The holding of the promoters of Bharat Coking Coal will reduce to 90 per cent post the issue from 100 per cent prior to the issue. Notably, the promoters of the public sector company include the Ministry of Coal and Coal India.

Bharat Coking Coal: Financial Performance

Bharat Coking Coal reported a total income of Rs 6,311.51 crore in the September quarter of FY26. During the quarter, the Coal India subsidiary posted a net profit of Rs 123.88 crore.

For FY25, the company’s total income slipped by nearly 2 per cent to Rs 14,401.63 crore from Rs 14,694.63 crore in FY24. Net profit fell over 20 per cent to Rs 1,240.19 crore in FY25 as against Rs 1,564.46 crore in the previous fiscal.

Its net worth stood at Rs 5,830.89 crore, as of September 30, 2025.

Bharat Coking Coal IPO Anchor List

Ahead of the issue's opening of bidding window, the public sector undertaking (PSU) raised Rs 273.13 crore from institutional investors during the anchor round. The company allotted 118.75 million shares at an anchor allocation price of Rs 23 per share, which is also the upper end of the Bharat Coking Coal IPO's price band.

Life Insurance Corporation of India (LIC) acquired 28.56 per cent of the total anchor allocation, investing Rs 78 crore in the PSU. Following it, Bandhan Small Cap Fund bought 27.46 per cent of total anchor allocation, investing Rs 75 crore.

Of the total anchor allocation, about 60.41 per cent were allocated to domestic mutual funds, which applied through a total of eight schemes.