Bharat Coking Coal (BCCL) IPO GMP In Focus On Day 2 Of Subscription - Check Key IPO Details
The unlisted shares of BCCL, a Coal India subsidiary, have been trading at Rs 33.6 in the private market, indicating a potential listing gain of more than 40%.
The initial public offering (IPO) of Bharat Coking Coal Ltd. (BCCL) witnessed a strong response on its very first day of bidding. Driven by factors such as a healthy grey market premium (GMP), reasonable priced band and the company’s PSU status, the issue was subscribed more than eight times on day 1, Jan. 9.
The retail investor category was subscribed 9.26 times, bidding for over 130.87 crore shares against 12.83 crore offered. Non-institutional investors (NIIs) showed heavy interest with a subscription of 16.39 times. However, the QIB segment saw lower demand at 0.30 times, while the employee category was subscribed 0.83 times as of January 9. Overall, the Bharat Coking Coal IPO was subscribed 8.09 times across categories on its launch day, according to BSE data
As the IPO moves into its second day of subscription, market participants are closely tracking GMP trends and overall subscription levels to assess investor sentiment and potential listing gains.
Here’s a look at the latest GMP, offer size, price band, day 2 subscription status, listing date and other key details of this issue.
Bharat Coking Coal (BCCL) IPO GMP Today
According to the InvestorGain website, Bharat Coking Coal's IPO’s latest GMP stands at Rs 10.85 as of January 12. With a price band cap of Rs 23, the IPO’s estimated listing price is around Rs 33.85 per share (price band cap + GMP). This suggests an expected gain of approximately 47.17% per share over the issue price for investors.
Note: GMP does not represent official data and is based on speculation.
Bharat Coking Coal (BCCL) IPO Details
The Bharat Coking Coal IPO is a book-built issue worth Rs 1,071.11 crore and is entirely an offer-for-sale (OFS) of 46.57 crore shares. The price band has been fixed at Rs 21 to Rs 23 per share. Each lot consists of 600 shares.
Retail investors can apply for a minimum of one lot, requiring an investment of Rs 13,800 at the upper price band. The share allotment process of this issue is expected on Jan. 14. The tentative listing date has been announced as Jan. 16 on BSE and NSE.
The IPO has been subscribed 17.19 times so far, on Monday.
IDBI Capital Markets is the book-running lead manager, while KFin Technologies is the registrar for this issue.
Bharat Coking Coal (BCCL) Details
BCCL, incorporated in 1972, is a wholly owned subsidiary of Coal India Ltd. BCCL is headquartered in Dhanbad, Jharkhand and is engaged in the production of coking coal, non-coking coal and washed coal.
Use of proceeds and financials
As the IPO is entirely an offer-for-sale, Bharat Coking Coal Ltd. will not receive any proceeds. The funds raised will go to the selling shareholder after IPO-related expenses and taxes.
For the financial year ended March 31, 2025, Bharat Coking Coal Ltd. reported a total income of Rs 14,402 crore, slightly lower than Rs 14,653 crore in FY 2024. Profit after tax stood at Rs 1,240 crore, down from Rs 1,564 crore in the previous year. Ebitda for FY25 was Rs 2,356 crore, compared to Rs 2,494 crore in FY24.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
