Overview
- The IPO is a pure offer-for-sale of 46.57 crore shares priced at Rs 21–23, with bidding Jan. 9–13, allotment on Jan. 14 and listing on Jan. 16; anchor bidding is slated for Jan. 8.
- Recent grey-market quotes eased to roughly Rs 11.5–13.5 per share, indicating an unofficial expected listing gain of about 50–59% over the upper band, though these signals are volatile and unofficial.
- Proceeds go to the selling shareholder Coal India, and Bharat Coking Coal will receive no fresh funds from the listing.
- Of the net offer, 50% is reserved for QIBs, 15% for NIIs and 35% for retail, with 5% reserved for eligible employees and 10% for eligible Coal India shareholders; IDBI Capital and ICICI Securities are lead managers and KFin is registrar.
- Founded in 1972, BCCL operates 34 mines and produced about 58.5% of India’s domestic coking coal in FY25, reporting FY25 PAT of around Rs 1,240 crore and H1 FY26 PAT of Rs 124 crore, with estimated coking-coal reserves of about 7,910 million tonnes.