Bharat Coking Coal IPO allotment finalized as GMP hints bumper debut; listing date revised
The first mainboard IPO of 2026, Bharat Coking Coal, has finalized the basis of allotment of its shares after a historic response for its issue from investors.
- Jan 15, 2026,
- Updated Jan 15, 2026 12:38 PM IST
Bharat Coking Coal IPO: The first mainboard IPO of 2026, Bharat Coking Coal (BCCL), has finalized the basis of allotment of its shares after a historic response for its issue from investors. On the other hand, the company has deferred its listing on the exchanges considering the market holiday on Thursday, January 15.
The initial public offering of Bharat Coking Coal saw a record-breaking bidding from the investors across all categories, fetching more than 90.30 lakh applications, drawing bids for Rs 1.17 lakh crore for its Rs 1,071 crore IPO. The issue was overall subscribed a solid 146.87 times between January 09-13.
The portion for qualified-institutional bidders (QIBs) was subscribed 310.81 times, while the non-institutional investors (NIIs) quota was booked 258.16 times. The allocation for retail investors was subscribed 49.33 times in the bidding process. Portions reserved for eligible shareholders of Coal India Ltd and employees were booked 87.29 times and 5.18 times, respectively.
The grey market premium (GMP) of Bharat Coking Coal has increased since the closure of the issue, thanks to the historic bidding for the issue. Last heard, it was commanding a GMP of Rs 13.5-13.7 apeice, suggesting nearly 60 per cent listing pop for the issue. Its premium in the unofficial market stood close to Rs 9-10 during the bidding phase.
Shares of Bharat Coking shall be listed on both BSE and NSE on Monday, January 19, which was earlier scheduled on Friday, January 16. IDBI Capital Markets Services and ICICI Securities are the book running lead managers of Bharat Coking Coal IPO and Kfin Technologies is the registrar of the issue.
Brokerage firms were largely positive on the issue, suggesting to subscribe to it for a long-term basis. However, potential depletion of coal reserves impacting operating performance, client concentration and increase in share of renewables to impact coal demand over the long term were cited as the key risks for the issue.
BCCL aims to ensure sustainable growth, revenue generation, and operational efficiency by transforming discontinued mines into profitable ventures through reclamation, resource monetization, and strategic repurposing. The company has maintained a consistent track record of financial performance, said Ashika Stock Broking in its pre-IPO note.
Bidders of the issue, who have not checked the allotment status yet, can check the status on the website of KFin Technologies Ltd or BSE Ltd. Incorporated in 1972, Dhanbad-based Bharat Coking Coal (BCCL) is engaged in the production of coking coal, non-coking coal, and washed coal.
BCCL has entered into an agreement with Tata Steel to utilize its spare washeries capacity for washing coking coal for BCCL. Moreover, SAIL has entered a MOU (Memorandum of Understanding) with BCCL for getting the supply of 1.8 MT of washed coking coal from BCCL’s washeries, said ICICIDirect Research in pre-IPO note without rating the issue.
"BCCL is planning to restore operations in discontinued underground mines through MDO (Mine Developer and Operator) mode on a revenue sharing basis, with 6 out of 10 mines awarded to private players and third parties. It is also exploring opportunities in coal bed methane (CBM) projects to diversify its energy portfolio and reduce greenhouse gas emissions," it added.
Bharat Coking Coal IPO: The first mainboard IPO of 2026, Bharat Coking Coal (BCCL), has finalized the basis of allotment of its shares after a historic response for its issue from investors. On the other hand, the company has deferred its listing on the exchanges considering the market holiday on Thursday, January 15.
The initial public offering of Bharat Coking Coal saw a record-breaking bidding from the investors across all categories, fetching more than 90.30 lakh applications, drawing bids for Rs 1.17 lakh crore for its Rs 1,071 crore IPO. The issue was overall subscribed a solid 146.87 times between January 09-13.
The portion for qualified-institutional bidders (QIBs) was subscribed 310.81 times, while the non-institutional investors (NIIs) quota was booked 258.16 times. The allocation for retail investors was subscribed 49.33 times in the bidding process. Portions reserved for eligible shareholders of Coal India Ltd and employees were booked 87.29 times and 5.18 times, respectively.
The grey market premium (GMP) of Bharat Coking Coal has increased since the closure of the issue, thanks to the historic bidding for the issue. Last heard, it was commanding a GMP of Rs 13.5-13.7 apeice, suggesting nearly 60 per cent listing pop for the issue. Its premium in the unofficial market stood close to Rs 9-10 during the bidding phase.
Shares of Bharat Coking shall be listed on both BSE and NSE on Monday, January 19, which was earlier scheduled on Friday, January 16. IDBI Capital Markets Services and ICICI Securities are the book running lead managers of Bharat Coking Coal IPO and Kfin Technologies is the registrar of the issue.
Brokerage firms were largely positive on the issue, suggesting to subscribe to it for a long-term basis. However, potential depletion of coal reserves impacting operating performance, client concentration and increase in share of renewables to impact coal demand over the long term were cited as the key risks for the issue.
BCCL aims to ensure sustainable growth, revenue generation, and operational efficiency by transforming discontinued mines into profitable ventures through reclamation, resource monetization, and strategic repurposing. The company has maintained a consistent track record of financial performance, said Ashika Stock Broking in its pre-IPO note.
Bidders of the issue, who have not checked the allotment status yet, can check the status on the website of KFin Technologies Ltd or BSE Ltd. Incorporated in 1972, Dhanbad-based Bharat Coking Coal (BCCL) is engaged in the production of coking coal, non-coking coal, and washed coal.
BCCL has entered into an agreement with Tata Steel to utilize its spare washeries capacity for washing coking coal for BCCL. Moreover, SAIL has entered a MOU (Memorandum of Understanding) with BCCL for getting the supply of 1.8 MT of washed coking coal from BCCL’s washeries, said ICICIDirect Research in pre-IPO note without rating the issue.
"BCCL is planning to restore operations in discontinued underground mines through MDO (Mine Developer and Operator) mode on a revenue sharing basis, with 6 out of 10 mines awarded to private players and third parties. It is also exploring opportunities in coal bed methane (CBM) projects to diversify its energy portfolio and reduce greenhouse gas emissions," it added.