Bharat Coking Coal Sets Price Band, IPO To Open On Jan 9 — Check Details
The Bharat Coking Coal IPO is a pure offer-for-sale of up to 46.57 crore equity shares by Coal India.
Bharat Coking Coal Ltd., a wholly owned subsidiary of Coal India Ltd., is set to launch the first mainboard IPO of 2026 with a price band of Rs 21 to Rs 23 per equity share.
The issue is a pure offer-for-sale of up to 46.57 crore equity shares of face value Rs 10 each by Coal India. Post listing, BCCL’s shares will trade on the main board of both BSE and NSE.
Anchor investor bidding opens on Thursday, while the IPO will be available for public subscription from Jan. 9 to Jan. 13. Eligible employees under the employee reservation portion will receive a discount of Rs 1 per share.
The IPO includes a reservation of up to 2.32 crore shares for eligible employees and up to 4.66 crore shares for Coal India shareholders. The remaining net offer will be allocated among Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Individual Investors (RIIs) as per SEBI norms.
The QIB portion will not exceed 50% of the net offer, while NIIs and RIIs will have a minimum reservation of 15% and 35%, respectively.
IDBI Capital Markets & Securities and ICICI Securities are the book running lead managers, while KFin Technologies is the registrar to the issue.
Incorporated in 1972, BCCL is India’s largest producer of coking coal, operating mainly in the Jharia coalfields (Jharkhand) and Raniganj coalfields (West Bengal). It was granted Mini Ratna status in 2014 and supplies raw and washed coal to steel, power, and cement industries.
Financially, BCCL posted a net profit of Rs 1,240 crore in FY25, down from Rs 1,564 crore in FY24. Profit after tax for the first half of this fiscal stood at Rs 124 crore, compared to Rs 749 crore for the corresponding period last year.
Revenue from operations was Rs 13,803 crore in FY25 versus Rs 14,246 crore in FY24. For the first six months of FY26, revenue was Rs 5,659 crore, down from Rs 6,846 crore for the same in FY25.
The company achieved record coking coal production of 39.11 million tonnes in FY24 and recorded a CAGR of 5.80% in production between FY23 and FY25.
