Bharat Coking Coal IPO
Open MainLineCurrent GMP
₹18 (+78.26%)
Price Band
₹ 21 – 23
Lot Size
600
Issue Size
₹1071.11 Cr
Minimum Investment
₹13800 (600 Shares)
Listing Date
19 January 2026
Subscription
146.87x
About the Company
Bharat Coking Coal Limited (BCCL) was incorporated in 1972 and is engaged in the mining and production of coking coal, non-coking coal, and washed coal. The company is a wholly owned subsidiary of Coal India Limited (CIL).
As of March 31, 2025, BCCL operates a total of 32 mines, comprising 25 opencast mines, 3 underground mines, and 4 mixed mines.
Coking coal is the company’s primary product, mainly supplied to the steel and power industries. As of April 1, 2024, BCCL holds an estimated coking coal reserve of approximately 7,910 million tonnes. During Fiscal 2025, the company contributed 58.50% of India’s total domestic coking coal production, highlighting its strategic importance in the sector.
BCCL’s mining operations are located in the Jharia Coalfield in Jharkhand and the Raniganj Coalfield in West Bengal, covering a total leasehold area of 288.31 square kilometers.
The company undertakes both opencast and underground mining operations and operates multiple coal washeries. Its business activities also include:
- Monetisation of idle washeries under the Washery Developer and Operator (WDO) model
- Reopening of discontinued underground mines through the Mine Developer and Operator (MDO) model
- Monetisation of solar power projects through captive consumption and grid injection
BCCL’s coal production increased steadily 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.
Promoters
- Coal India Limited
- President of India, acting through the Ministry of Coal, Government of India
Promoters Holding
Holding Pre Issue
100.00%
Holding Post Issue
90.00%
Objects of the Issue
The objects of the Offer are to
(i) to carry out the Offer for Sale of up to 465,700,000 Equity Shares of face value of ₹10 each of our Company by the Promoter Selling Shareholder aggregating up to ₹ [●] million;
(ii) achieve the benefits of listing the Equity Shares on the Stock Exchanges.
Address / Contact Info
Bharat Coking Coal Limited
Koyla Bhawan,
Koyla Nagar
Dhanbad, Jharkhand, 826005
Phone: 0326-2230190
Email: cos.bccl@coalindia.in
Website: http://www.bcclweb.in/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Friday, 09 January 2026
IPO Close Date
Tuesday, 13 January 2026
Basis of Allotment
Wednesday, 14 January 2026
Initiation of Refunds
Thursday, 15 January 2026
Credit of Shares to Demat
Thursday, 15 January 2026
Listing Date
Monday, 19 January 2026 — NSE & BSE
Important Dates
Open Date
09 January 2026
Close Date
13 January 2026
Basis Of Allotment
14 January 2026
Listing Date
19 January 2026
Financial Performance (₹ in Crores)
| Particular | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 18711.13 | 17283.48 | 14727.73 | 13312.86 |
| Revenue | 6311.51 | 14401.63 | 14652.53 | 13018.57 |
| Profit After Tax | 123.88 | 1240.19 | 1564.46 | 664.78 |
| Net Worth | 5830.89 | 6551.23 | 5355.47 | 3791.01 |
| Reserve & Surplus | 1006.52 | 1805.73 | 664.72 | -853.1 |
| Total Borrowings | 1559.13 | 0 | 0 | 0 |
EPS Pre
2.66%
EPS Post
0.53%
P/E Pre
8.64
P/E (Post Issue)
43.23x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|
| ROE % | 0 | 0 | 0 | 0 |
| ROCE % | 0 | 30.13 | 47.2 | 16.56 |
| Debt / Equity | 0 | 0 | 0 | 0 |
| RoNW % | 13.12 | 20.83 | 34.21 | 19.22 |
| PbW | 0 | 0 | 0 | 0 |
| Pat Margin % | 1.96 | 8.61 | 10.68 | 5.11 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 79169000 | 22.82 | 0 |
| Non-Institutional | 59376750 | 17.11 | 0 |
| BNII | 39584500 | 11.41 | 0 |
| SNII | 19792250 | 5.7 | 0 |
| Retail Investors | 138545750 | 39.93 | 0 |
| Employees | 23285000 | 6.71 | 0 |
| Shareholder Category | 46570000 | 13.42 | 0 |
| Total | 346946500 | 100 | 0 |
Subscription Status ( Tue, 13 Jan 26 01:52 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 79169000 | 24606519600 | 310.81x |
| Non-Institutional | 59376750 | 15328863000 | 258.16x |
| BNII | 39584500 | 10911211200 | 275.64x |
| SNII | 19792250 | 4417651800 | 223.2x |
| Retail Investors | 138545750 | 6834498000 | 49.33x |
| Employees | 23285000 | 120525600 | 5.18x |
| Total | 346946500 | 50955558000 | 146.87x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Bharat Coking Coal Ltd | 10 | 0.00 | 2.66 | 2.66 | 20.83 | 14.07 |
| Alpha Metallurgical Resources, Inc | 0.01 | 14.87 | 1233.78 | 1222.65 | 11.48 | 11182.10 |
| Warrior Met Coal, Inc. | 0.01 | 19.44 | 410.12 | 410.12 | 12.82 | 3423.71 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 600 | 13,800.00 |
| Retail (Max) | 14 | 8,400 | 193,200.00 |
| S-HNI (Min) | 15 | 9,000 | 207,000.00 |
| S-HNI (Max) | 72 | 43,200 | 993,600.00 |
| B-HNI (Min) | 73 | 43,800 | 1,007,400.00 |
Registrar
Kfin Technologies Limited
04067162222, 04079611000
reachus@kfintech.com
https://www.kfintech.com
Book Running Lead Managers
- Idbi Capital Market Services Limited
- ICICI Securities Limited
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Bharat Coking Coal IPO is a Book-building IPO worth ₹1071.11 crores. The price band is ₹21 to 23 per share. The IPO opens on Fri, Jan 9, 2026 and closes on Tue, Jan 13, 2026. It will be listed on BSE and NSE. Kfin Technologies Limited is the registrar.
The Bharat Coking Coal IPO opens on Fri, Jan 9, 2026 and closes on Tue, Jan 13, 2026
Bharat Coking Coal IPO Price Band is ₹21 to 23.
Bharat Coking Coal IPO lot size is 600, and the minimum amount required for application is ₹13800.
The minimum investment for Bharat Coking Coal IPO is approximately ₹13800 based on the upper price band.
To apply for the Bharat Coking Coal IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Tue, Jan 13, 2026. After submission, funds are blocked until the basis of allotment of Bharat Coking Coal IPO is finalised.
Bharat Coking Coal IPO issue size is ₹1071.11 crores.
Bharat Coking Coal IPO allotment date is Sat, Jun 27, 2026.
The registrar for Bharat Coking Coal IPO is Kfin Technologies Limited. Investors can go to Kfin Technologies Limited website for IPO allotment status, refund processing, and other queries related to Bharat Coking Coal IPO through their official website or helpline.
The Bharat Coking Coal IPO GMP (Grey Market Premium) is ₹18 as of Mon, Jan 19, 2026. Based on the upper price band of ₹23 per share, the estimated Bharat Coking Coal IPO listing price is ₹41, indicating a potential listing gain of approximately 31% over the issue price.