State-owned Bharat Coking Coal (BCCL), a subsidiary of Coal India, launched its initial public offering (IPO) on Friday, and it was fully subscribed within just 30 minutes. The IPO, which marks the first mainboard public issue of 2026, has an offer of Rs 1,071 crore and is open for bidding until January 13.
Investors showed strong interest in the IPO, with the issue being oversubscribed 1.12 times early on Friday. Non-institutional and retail investors played a significant role, subscribing 1.99 times and 1.5 times their quotas, respectively. The price band for the IPO is set at Rs 21 to Rs 23, with the company aiming to raise Rs 1,071 crore at the upper band.
Analysts are recommending subscribing to the IPO for potential listing gains, citing BCCL’s leading market position and a robust price-to-earnings ratio of around 8.64 times FY25 earnings at the upper band. BCCL is the largest coking coal producer in India, contributing to over half of the country’s domestic coking coal production in the financial year 2024–25.
