Bharat Coking Coal IPO To Open For Subscription On Jan 9 — Details Inside

The initial public offering of Bharat Coking Coal Ltd. will open for subscription on Jan. 9, and will close on Jan. 13. The Rs 1,300 crore issue will be entirely an offer for sale, under which promoter Coal India will sell up to 46.57 crore equity shares.

The anchor investor portion will open for bidding on Jan. 8. The company is yet to announce the price-band of the public offer.

The Book Running Lead Managers to the IPO are IDBI Capital Markets & Securities and ICICI Securities Limited, while KFin Technologies Limited is acting as the registrar.

Founded in 1972, BCCL is India’s largest producer of coking coal and among the biggest holders of coking coal reserves in the country, with estimated reserves of around 7,910 million tonnes as of April 1, 2024. The company is a wholly owned subsidiary of Coal India and was granted ‘Mini Ratna’ status in 2014.

Its operations are primarily located in the Jharia coalfields in Jharkhand and the Raniganj coalfields in West Bengal.

BCCL posted a net profit of Rs 1,240 crore for the financial year ended March 31, 2025, compared with Rs 1,564 crore in FY24 and Rs 665 crore in FY23. For the first half of FY26, profit after tax stood at Rs 124 crore, sharply lower than Rs 749 crore reported in the corresponding period of the previous year.

The company’s revenue from operations in FY25 was Rs 13,803 crore, against Rs 14,246 crore in FY24 and Rs 12,624 crore in FY23. For the first half of FY26, revenue stood at Rs 5,659 crore, compared with Rs 6,846 crore in the corresponding period last fiscal.

BCCL has steadily increased its production capacity through the strategic deployment of heavy earth-moving machinery and registered a record coking coal output of 39.11 million tonnes in FY24. The company has maintained a compound annual growth rate of 5.80% in coking coal production from FY23 to FY25.

As of now, the grey market premium for the issue has not opened.