- Bharat Coking Coal IPO subscribed 146.87 times with strong investor demand from Jan 9-13
- IPO shares will debut on the NSE and BSE mainboards on Monday, January 19
- Grey market premium for BCCL IPO is Rs 13.1, implying a 56.96% listing gain from Rs 23 cap
Following the successful bidding of Bharat Coking Coal Ltd. (BCCL) IPO, the primary market is closely tracking grey market premium trends and eagerly awaiting its listing.
The grey market premium for the IPO of the Coal India subsidiary has been topping the 'business and markets' trending charts since the IPO opened for bidding. The current GMP trends suggest a bumper listing for the mainboard IPO of BCCL.
The highly anticipated debut of BCCL, a wholly owned subsidiary of Coal India Ltd., was postponed due to municipal corporation elections in Maharashtra.
The mainboard public issue, open from Jan. 9 to 13, has attracted an overwhelming response from investors. The IPO received bids for 5,095 crore shares against 34.6 crore shares on offer during the three-day subscription period. Overall, the IPO was subscribed 146.87 times.
Ahead of its debut, here's a look at the latest grey market premium (GMP) trends and other key details of the IPO.
Bharat Coking Coal IPO Listing Date
Shares of Bharat Coking Coal IPO will debut on Monday, Jan. 19.
Bharat Coking Coal IPO GMP Today
According to InvestorGain, the latest GMP of Bharat Coking Coal IPO was Rs 13.1 as seen on Jan. 19. With a price band of Rs 23, the IPO's estimated listing price is Rs 36.1, calculated by adding the cap price and today's GMP. This suggests an expected gain of nearly 56.96% per share for investors
Since allotment, the IPO GMP has shown steady movement. On Jan. 14, the allotment day, the GMP was Rs 13. On Jan. 15, the GMP rose to Rs 14. By Jan. 16, the GMP further increased to Rs 13.2 and the estimated listing price reached Rs 36.2, indicating 57% listing profit.
Note: GMP does not represent official data and is based on speculation.
Bharat Coking Coal IPO Details
The Bharat Coking Coal IPO was a book-built issue worth Rs 1,071.11 crore. It consisted entirely of an offer-for-sale (OFS) of 46.57 crore shares. The IPO price band was set at Rs 21–23 per share. The share allotment status was finalised on Jan. 14, after the subscription window closed. The mainboard IPO is scheduled to list on both the NSE and BSE.
As the IPO is entirely an offer-for-sale, BCCL will not receive any proceeds. They will instead go to the selling shareholder after IPO-related expenses and taxes.
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.
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