The Bharat Coking Coal Limited (BCCL) IPO has concluded its final day of bidding on 13 January 2026, recording an overwhelming response from all investor categories. As a key subsidiary of Coal India Limited, this public issue represents a significant milestone in India's energy and mining sector.
Investors across India have shown immense interest in this ₹1,071.11 crore IPO, leading to subscription levels that have surpassed most market expectations. Understanding the final data and grey market trends is crucial for those awaiting the allotment process.
Key Details of the BCCL IPO Issue
The Bharat Coking Coal Limited public offer was structured as a 100% Offer for Sale (OFS), meaning the company itself does not receive the funds; instead, the proceeds go to the promoter, Coal India Limited. This move is part of the government's broader strategy to unlock value in public sector undertakings (PSUs).
The price band for the issue was set at a competitive ₹21 to ₹23 per share, making it accessible to a wide range of retail investors. With a lot size of 600 shares, the minimum investment required for a retail application stood at ₹13,800. Such pricing strategies often attract high volume, as seen in the final subscription tallies.
BCCL IPO Day 3: Final Subscription Status
By the end of the final day on 13 January 2026, the BCCL IPO was subscribed more than 146 times, driven largely by institutional buyers. The following table provides a detailed breakdown of the category-wise demand reported to the National Stock Exchange (NSE) and BSE.
| Investor Category | Subscription Status (Times) |
|---|---|
| Qualified Institutional Buyers (QIBs) | 310.81x |
| Non-Institutional Investors (NIIs) | 258.16x |
| Retail Individual Investors (RIIs) | 49.33x |
| Shareholders (Coal India) | 87.29x |
| Employees | 5.18x |
| Total Subscription | 146.87x |
The massive 310x subscription in the QIB category indicates that large-scale institutional fund managers are extremely bullish on the future of domestic coking coal production. This high demand often acts as a cushion for the stock's performance post-listing.
Grey Market Premium (GMP) and Listing Expectations
The Grey Market Premium (GMP) for BCCL IPO has remained steady at approximately ₹10.6 per share. Given the upper price band of ₹23, this suggests a potential listing gain of nearly 46%. However, it is important to remember that GMP is an unofficial market indicator and is subject to change based on overall market sentiment.
Investors should keep a close eye on the SEBI guidelines regarding IPO allotments. The tentative listing date for BCCL on the NSE and BSE is 15 January 2026. Successful allottees will see the shares credited to their demat accounts a day prior to the listing.
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Business Overview: Why Investors are Bullish on BCCL
Bharat Coking Coal Limited (BCCL) holds a strategic monopoly-like position in India's energy landscape. It is the country's largest producer of coking coal, contributing nearly 58.5% of domestic production as of FY2025. This makes the company indispensable to the Indian steel industry.
- Strategic Reserves: BCCL manages massive geological reserves of approximately 7,910 million tonnes, ensuring long-term operational viability.
- Import Substitution: As India aims to reduce its reliance on expensive coking coal imports, BCCL’s role in the Atmanirbhar Bharat initiative becomes critical.
- Strong Parentage: Being a subsidiary of Coal India Limited provides BCCL with financial stability and operational expertise.
Frequently Asked Questions
What is the BCCL IPO Allotment Date?
The basis of allotment for the BCCL IPO is expected to be finalized on 14 January 2026. Investors can check their status on the registrar's website, KFin Technologies Limited.
What is the lot size and minimum investment?
The minimum lot size is 600 shares. At the upper price band of ₹23, the minimum investment for a retail investor is ₹13,800.
When will BCCL shares list on the stock exchange?
The tentative listing date for Bharat Coking Coal Limited shares is 15 January 2026 on both the BSE and NSE platforms.
Key Takeaways
- The BCCL IPO saw a massive 146.87x total subscription, showing high confidence.
- QIB interest peaked at 310.81x, signaling strong institutional support.
- The GMP of ₹10.6 indicates a potentially strong listing at a 46% premium.
Disclaimer
This article is for informational purposes only and does not constitute financial, tax, or legal advice. Investing in the stock market involves risks; please consult a qualified financial advisor before making any investment decisions.
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