Bharat Coking Coal IPO Day 2: Subscription at 33x, GMP Jumps to ₹10.85

Bharat Coking Coal Ltd (BCCL), a wholly owned subsidiary of Maharatna-status Coal India Ltd and India’s largest producer of coking coal, is launching an initial public offering (IPO) to raise approximately ₹1,071.11 crore. The issue opens for subscription on January 9, 2026, and will close on January 13, 2026, with the price band fixed at ₹21 to ₹23 per share. The IPO is a book-built issue comprising entirely an offer for sale (OFS) of 46.57 crore equity shares aggregating up to ₹1,071.11 crore, with no fresh issue component. The shares are proposed to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE), with a tentative listing date of January 16, 2026, subject to allotment and regulatory approvals.

Bharat Coking Coal IPO,IPO Day 2 Subscription Status

On Day 2, the Bharat Coking Coal IPO saw a phenomenal response, with overall subscription reaching 33.72 times. The QIB segment was subscribed 1.44 times, while Non-Institutional Investors (NII) showed exceptional interest at 96.41 times, led by sNII at 103.27 times and bNII at 92.98 times. The Retail Individual Investors (RII) category was subscribed 27.05 times. The Employee and Shareholder portions were subscribed 2.62 times and 44.07 times, respectively. In total, the issue received 48,57,418 applications with bids worth around ₹26,907.66 crore, reflecting very strong investor confidence.

Investor Category	Subscription (x)
Qualified Institutional Buyers (QIB)	1.44
Non-Institutional Investors (NII)	96.41
bNII (above ₹10 lakh)	92.98
sNII (less than ₹10 lakh)	103.27
Retail Individual Investors (RII)	27.05
Employees	2.62
Shareholders	44.07
Total Subscriptions	33.72

Total Applications: 48,57,418

Total Bid Amount (₹ Crores): ₹26,907.66

Objective of the Bharat Coking CoalIPO

Since the Bharat Coking CoalIPO is a 100% Offer for Sale (OFS), the company will not receive any proceeds from the issue. The entire IPO proceeds will be received by the selling shareholders, and no funds will be utilized by Bharat Coking Coal for business expansion, capital expenditure, or other corporate purposes. 

Bharat Coking Coal IPO GMP – Day 2 Update

The grey market premium (GMP) of the Bharat Coking CoalIPO stands at ₹10.85 as of January 12, 2025 (Day 2). Considering the upper end of the price band at ₹23 per share, the estimated listing price is around ₹33.85, reflecting a potential gain of approximately 47.17% per share in the grey market.

Date	GMP	Est. Listing Price	Gain
12-01-2025 (Day 2)	₹10.85	₹33.85	47.17%

Disclaimer: The above GMP (Grey Market Premium) is just unofficial market information, which is not officially confirmed. These figures are shared for informational purposes only and investment decisions based on these should be based on the investor’s own research and discretion. We do not conduct, recommend or support any kind of transaction in the grey market.

Bharat Coking CoalIPO – Key Details

Particulars	Details
IPO Opening Date	January 09, 2025
IPO Closing Date	January 13, 2025
Issue Price Band	₹21 to ₹23 per share
Total Issue Size	46,57,00,000 shares(agg. up to ₹1,071 Cr)
Listing Platform	BSE, NSE
Registrar	KFin Technologies Ltd.
Bharat Coking CoalIPO RHP	Bharat Coking Coal RHP

Important Dates for Bharat Coking CoalIPO Allotment

Event	Date
Tentative Allotment	January 14, 2025
Refunds Initiation	January 15, 2025
Credit of Shares to Demat	January 15, 2025
Listing Date	January 16, 2025

Overview Of  Bharat Coking Coal IPO

Bharat Coking Coal Limited (BCCL) is India’s largest coking coal producer, accounting for 58.50% of domestic coking coal production in FY25, as per CRISIL. Its primary product is coking coal, with estimated reserves of about 7,910 million tonnes as of April 1, 2024, making it one of the largest reserve holders in the country. BCCL produces multiple grades of coking coal, non-coking coal, and washed coal, mainly supplying the steel and power sectors. A wholly owned subsidiary of Coal India Limited, BCCL was incorporated in 1972 and received Mini Ratna status in 2014. Its operations are concentrated in the Jharia coalfield (Jharkhand) and Raniganj coalfield (West Bengal), spanning 288.31 sq. km. Coal production grew from 30.51 million tonnes in FY22 to 40.50 million tonnes in FY25, reflecting strong operational expansion driven by capacity addition, advanced mining practices, and efficient use of heavy earth-moving machinery.