Bharat Coking Coal IPO
ListedMainboardOpens 9 January 2026Closes 13 January 2026
Bharat Coking Coal Limited (BCCL), incorporated in 1972 and a wholly owned subsidiary of Coal India Limited, is India's largest producer of coking coal. The company accounts for approximately 58.50% of India's domestic…
Bharat Coking Coal Limited (BCCL), incorporated in 1972 and a wholly owned subsidiary of Coal India Limited, is India's largest producer of coking coal. The company accounts for approximately 58.50% of India's domestic coking coal production, serving as a critical supplier to the steel and power sectors. BCCL operates 32 mines (opencast and underground) across the Jharia and Raniganj coalfields and holds estimated reserves of 7,910 million tonnes. The company also operates coal washeries and is expanding into solar power and coal-bed methane projects.
Show moreShow less
Key ratios
As per RHP / filingsTimeline
IPO Opens
9 Jan
IPO Closes
13 Jan
Allotment
14 Jan
Listing
19 Jan
IPO Timeline & Listing Details
| Event | Date |
|---|---|
| IPO Open Date | 9 January 2026 |
| IPO Close Date | 13 January 2026 |
| Allotment Date | 14 January 2026 |
| Listing Date | 19 January 2026 |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹13,800 |
Retail (Max)Just less than ₹2,00,000 | 14 | ₹1,93,200 |
SHNI (Min)Just above ₹2,00,000 | 15 | ₹2,07,000 |
SHNI (Max)Below ₹10,00,000 | 72 | ₹9,93,600 |
BHNIAbove ₹10,00,000 | 73 | ₹10,07,400 |
IPO Reservation Details
| Category | Reservation |
|---|---|
| QIB (Qualified Institutional Buyer) | 50% |
| NII (Non-Institutional Investor) | 15% |
| SHNI (Small Non-Institutional Investor) | 5% |
| BHNI (Big Non-Institutional Investor) | 10% |
| Retail | 35% |
| Total | 100.00% |
IPO Objectives
- The IPO is entirely an Offer for Sale (OFS) of 46.57 Crore shares by the parent company, Coal India Limited. The company will not receive any proceeds. The primary objective is to carry out the divestment of a 10% stake and achieve the benefits of listing on stock exchanges.
Strengths
- The company holds a Market Monopoly, contributing nearly 58.5% of India's domestic coking coal production in FY25.
- It has access to Vast Reserves of approximately 7.91 billion tonnes in the strategically significant Jharia and Raniganj coalfields.
- The business benefits from Strong Parentage under Coal India Limited and the Government of India, ensuring stability and robust governance.
- It maintains a Deleveraged Balance Sheet with a healthy RoNW of 20.83% (FY25) and high capital efficiency (ROCE of 30.13%).
- The company has Zero Debt Potential, maintaining a low debt-to-equity ratio of 0.24 despite occasional operational borrowings.
Weaknesses
- The company is facing Earnings Pressure, with H1 FY26 profit (₹123.88 Cr) dropping sharply from the same period last year due to lower offtake and monsoon disruptions.
- The IPO is a Pure Offer for Sale (OFS), meaning no fresh capital will be infused into BCCL for modernization or internal growth.
- It carries significant Environmental & Regulatory Risks, being highly exposed to carbon emission norms and complex mining clearances.
- There is High Vendor Reliance, with roughly 78% of mining operations dependent on third-party contractors, posing operational and quality risks.
- The business has Geographic Concentration, with all operations restricted to Jharkhand and West Bengal, making it vulnerable to regional shifts.
Financial Performance
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 18,711.13 | 17,283.48 | 14,727.73 | 13,312.86 |
| Revenue (₹ Cr.) | 6,311.51 | 14,401.63 | 14,652.53 | 13,018.57 |
| PAT (₹ Cr.) | 123.88 | 1,240.19 | 1,564.46 | 664.78 |
| Net Worth (₹ Cr.) | 5,830.89 | 6,551.23 | 5,355.47 | 3,791.01 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.3x | 1.44x | 310.81x |
| NII | 16.45x | 96.68x | 258.02x |
| S-HNI | 18.92x | 104.1x | 222.78x |
| B-HNI | 15.21x | 92.98x | 275.64x |
| RII | 9.45x | 27.28x | 49.37x |
| EMP | 0.85x | 2.66x | 5.17x |
| Total | 8.18x | 33.89x | 146.85x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 7,91,69,000 | 24,60,65,19,600 | 56,595 |
| NII | 5,93,76,750 | 15,32,05,17,600 | 35,237.19 |
| Small NII | 1,97,92,250 | 4,40,93,06,400 | 10,141.4 |
| Big NII | 3,95,84,500 | 10,91,12,11,200 | 25,095.79 |
| RII | 13,85,45,750 | 6,83,99,11,800 | 15,731.8 |
| EMP | 2,32,85,000 | 12,03,42,000 | 276.79 |
| Total | 34,69,46,500 | 50,94,80,10,000 | 1,17,180.42 |
Company Details
- Bharat Coking Coal Ltd.
- Koyla Bhawan, Koyla Nagar, Dhanbad, Jharkhand - 826005
- 0326-2230190
- cos.bccl@coalindia.in
- http://www.bcclweb.in/
Registrar Details
- Kfin Technologies Ltd.
- 04067162222, 04079611000
- bccl.ipo@kfintech.com
- https://ipostatus.kfintech.com/
Frequently Asked Questions
What is the core business of Bharat Coking Coal?
When does the Bharat Coking Coal IPO open and close?
Who is eligible for the Shareholder Quota in this IPO?
What is the IPO price band and issue size of BCCL IPO?
What is the current Grey Market Premium (GMP) for BCCL?
On which exchanges will Bharat Coking Coal list?
Bharat Coking Coal IPO News & Updates
Follow the latest updates for Bharat Coking Coal IPO, including grey market moves and allotment news.
Bharat Coking Coal IPO IPO Pages
Open related pages for this IPO: details, GMP, subscription, allotment, review, FAQ, registrar, timeline, and news.
Bharat Coking Coal IPO Details
Issue size, price, financials, and company info
Bharat Coking Coal IPO GMP
Live grey market premium and listing estimate
Bharat Coking Coal IPO Subscription
QIB, NII, Retail, SHNI and BHNI subscription
Bharat Coking Coal IPO Allotment
Allotment date, chances, and check by PAN
Bharat Coking Coal IPO Review
SWOT, strengths, risks, and IPO review
Bharat Coking Coal IPO FAQ
Common questions on dates, GMP, and allotment
Bharat Coking Coal IPO Registrar
Registrar website and how to check allotment
Bharat Coking Coal IPO Timeline
Open, close, allotment, and listing dates
Bharat Coking Coal IPO News
Updates, blogs, and latest IPO news
Sources
We match Bharat Coking Coal IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- Kfin Technologies Ltd.Official site to check allotment status for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.