Bharat Coking Coal IPO share to list today; check latest GMP before stock market debut
Bharat Coking Coal sold its shares in the price band of Rs 21-23 apiece, applied for a minimum of 600 shares and its multiples to raise Rs 1,068.78 crore between January 09-13.
- Jan 19, 2026,
- Updated Jan 19, 2026 7:44 AM IST
Shares of Bharat Coking Coal (BCCL) are set to make their stock market debut on Monday, December 19, becoming the first mainboard listing of 2025. The Coal India Ltd subsidiary is set to deliver a strong listing pop to the investors, if one goes by the current grey market premium (GMP), which has seen some fluctuations over the weekend. Ahead of its listing, Bharat Coking Coal was commanding a grey market premium (GMP) of Rs 13-13.25 in the unofficial market, suggesting a listing pop of nearly 55-57 per cent for the investors. The GMP stood around Rs 9-10 during the bidding period, which climbed to Rs 13.5 during the allotment and dropped to Rs 12.25-12.5 over the weekend. Prashanth Tapse, Senior VP of Research at Mehta Equities expects BCCL to list at a price of 32-35. The IPO saw an exceptionally strong subscription. Interest was driven by the scarcity value of the offering, providing a rare opportunity to gain exposure to India’s largest and most integrated player in the coking coal value chain, a critical input for the domestic steel industry, he said. "From a valuation perspective, the issue was priced reasonably, especially for a low-ticket IPO, offering an attractive risk-reward profile. With a dominant market position and structural demand tailwinds from sustained steel capacity expansion, we remain constructive on the medium-to-long-term outlook," Mehta said. The IPO of Bharat Coking Coal ran for subscription between January 09 and January 13. It had offered its shares in the price band of Rs 21-23 per share with a lot size of 600 shares. The company raised a total of Rs 1,071crore via IPO, which was entirely an offer-for-sale (OFS) 46.57 crore equity shares by the President of India on behalf of the Ministry of Coal. The issue of Bharat Coking Coal was overall subscribed a total of 146.87 times, attracting bids nearly Rs 1.17 lakh crore through more than historic 90.31 lakh applications. Investors made bids for a jaw dropping 5,095.56 crore equity shares during the three-day bidding period. Bharat Coking Coal, with highest number IPO application, is showing robust Investor interest, while the valuation at around 8.6 times FY25 earnings appears reasonable for a cash-generative business with stable production and demand visibility, said Mahesh M Ojha, Vice President Research & Business Development at Kantilal Chhaganlal Securities. While near-term sentiment is positive, investors who are willing may hold onto it for the long term, keeping in mind commodity price cyclicality and sector-specific risks. However, short term investors may book partial listing gains and remaining stake can be held with medium-term horizon," he said. Incorporated in 1972, Dhanbad-based Bharat Coking Coal (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. It operates a network of 34 operational mines, including four underground, 26 opencast, and four mixed mines as of September 30, 2025. Brokerage firms were positive on the issue, suggesting it to subscribe for both listing gains and long-term basis. IDBI Capital Markets Services and ICICI Securities were the book running lead managers of Bharat Coking Coal IPO and Kfin Technologies was the registrar of the issue. Shares of the company shall be listed on both BSE and NSE with Monday, January 19 as the date of listing.
Shares of Bharat Coking Coal (BCCL) are set to make their stock market debut on Monday, December 19, becoming the first mainboard listing of 2025. The Coal India Ltd subsidiary is set to deliver a strong listing pop to the investors, if one goes by the current grey market premium (GMP), which has seen some fluctuations over the weekend. Ahead of its listing, Bharat Coking Coal was commanding a grey market premium (GMP) of Rs 13-13.25 in the unofficial market, suggesting a listing pop of nearly 55-57 per cent for the investors. The GMP stood around Rs 9-10 during the bidding period, which climbed to Rs 13.5 during the allotment and dropped to Rs 12.25-12.5 over the weekend. Prashanth Tapse, Senior VP of Research at Mehta Equities expects BCCL to list at a price of 32-35. The IPO saw an exceptionally strong subscription. Interest was driven by the scarcity value of the offering, providing a rare opportunity to gain exposure to India’s largest and most integrated player in the coking coal value chain, a critical input for the domestic steel industry, he said. "From a valuation perspective, the issue was priced reasonably, especially for a low-ticket IPO, offering an attractive risk-reward profile. With a dominant market position and structural demand tailwinds from sustained steel capacity expansion, we remain constructive on the medium-to-long-term outlook," Mehta said. The IPO of Bharat Coking Coal ran for subscription between January 09 and January 13. It had offered its shares in the price band of Rs 21-23 per share with a lot size of 600 shares. The company raised a total of Rs 1,071crore via IPO, which was entirely an offer-for-sale (OFS) 46.57 crore equity shares by the President of India on behalf of the Ministry of Coal. The issue of Bharat Coking Coal was overall subscribed a total of 146.87 times, attracting bids nearly Rs 1.17 lakh crore through more than historic 90.31 lakh applications. Investors made bids for a jaw dropping 5,095.56 crore equity shares during the three-day bidding period. Bharat Coking Coal, with highest number IPO application, is showing robust Investor interest, while the valuation at around 8.6 times FY25 earnings appears reasonable for a cash-generative business with stable production and demand visibility, said Mahesh M Ojha, Vice President Research & Business Development at Kantilal Chhaganlal Securities. While near-term sentiment is positive, investors who are willing may hold onto it for the long term, keeping in mind commodity price cyclicality and sector-specific risks. However, short term investors may book partial listing gains and remaining stake can be held with medium-term horizon," he said. Incorporated in 1972, Dhanbad-based Bharat Coking Coal (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. It operates a network of 34 operational mines, including four underground, 26 opencast, and four mixed mines as of September 30, 2025. Brokerage firms were positive on the issue, suggesting it to subscribe for both listing gains and long-term basis. IDBI Capital Markets Services and ICICI Securities were the book running lead managers of Bharat Coking Coal IPO and Kfin Technologies was the registrar of the issue. Shares of the company shall be listed on both BSE and NSE with Monday, January 19 as the date of listing.