Bharat Coking Coal Limited IPO

Mainboard

Coal

Listed On: Jan 19, 2026 at ₹ 45.0(NSE)

₹ 13800 /600 Shares

Check Allotment

09 Jan, 2026

Open Date

13 Jan, 2026

Close Date

14 Jan, 2026

Allotment Date

19 Jan, 2026

Listing Date

Price Summary

Last Closing

38.08 (65.57%)

52 Week High

45.09

52 Week Low

35.09

Last Update

29-Jan-2026 3:30 PM

Expected Premium

+ ₹12-12.8 (52.17%)

*Expected Premium provided in this app is derived from market rumors. It is not a guaranteed indicator of the actual listing price and should be interpreted with caution.

Bharat Coking Coal IPO Live Subscription Details

View Subscription Details

QIB 310.81x

Retail 49.25x

NIIs 258.02x

BHNI 275.64x

SHNI 222.78x

Retail 49.25x

EMP 5.17x

Total 146.80x

Last updated: 13 Jan 2026, 05:57 PM

Bharat Coking Coal IPO Issue Details

Issue Price ₹21-23 per equity share
Face Value ₹10 Per Equity Share
Total Issue Size 46,57,00,000 shares(aggregating up to ₹1071.11 crore)
Offer For Sale 46,57,00,000 shares(aggregating up to ₹1071.11 crore)
Listing at BSE, NSE
List Price 45.0(NSE)
Listing Date 2026-01-19
Lead Manager IDBI Capital Markets Services Ltd.
ICICI Securities Ltd.
Registrar Kfin Technologies Ltd.

Market Lot Size

Investors can bid for a minimum of 600 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

Application	Lots	Shares	Amount
Retail (min)	1	600	₹13,800
Retail(max)	14	8400	₹1,93,200
SHNI(min)	15	9000	₹2,07,000
SHNI(max)	72	43200	₹9,93,600
BHNI(min)	73	43800	₹10,07,400

Bharat Coking Coal IPO Reservation

Bharat Coking Coal IPO offers total 465700000 shares. Out of which 79169000 (17%) allocated to QIB, 59376750 (12.75%) allocated to NII,138545750 (29.75%) allocated to RII, 23285000 (5%) allocated to employees and 118753500 (25.5%) allocated to Anchor investors.

Investor Category	Shares Offered	Maximum Allottees
Anchor Investor Shares Offered	118753500 (25.5%)
QIB Shares Offered	79169000 (17%)
NII (HNI) Shares Offered	59376750 (12.75%)
bNII > ₹10L	39584500 (8.4%)
sNII < ₹10L	19792250 (4.2%)
Retail Shares Offered	138545750 (29.75%)
Shareholder Shares Offered	46570000 (10%)
Employee Shares Offered	23285000 (5%)
Total Shares Offered	465700000 (100%)

Bharat Coking Coal IPO Documents

DRHP

RHP

ANCHOR

Bharat Coking Coal IPO Details

Bharat Coking Coal IPO is a book-built issue of ₹1071.11 crores, The total issue size is ₹1071.11 crores. The IPO of Bharat Coking Coal is priced at ₹21-23 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Jan 9, 2026 and ends on Jan 13, 2026. The allotment for Bharat Coking Coal IPO will be finalized on Jan 14, 2026. Bharat Coking Coal IPO will be listed on BSE, NSE, with a tentative listing date fixed as Jan 19, 2026. The company shall list its equity shares on the BSE, NSE. Kfin Technologies Ltd. is the registrar of the issue.

Retail investors can bid for a minimum of 600 shares, extendable to 13,800. S-HNIs will be able to bid for 9000 shares at ₹2,07,000, while B-HNIs can also apply for a bid of 43800 shares at ₹10,07,400. The book-running lead manager for the IPO is/are IDBI Capital Markets Services Ltd., ICICI Securities Ltd..

The total issue ₹1071.11 crore and having Offer for Sale (OFS) of 46,57,00,000 shares to mop up ₹1071.11 crore.

The Bharat Coking Coal IPO sets its price band at 21-23 for each share. A single application for Bharat Coking Coal Limited IPO must contain at least 600 shares. Sentiment investors need to invest a minimum of 600 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹13,800 In order to participate in the sNII, investors must purchase at least 15 lots of 9000 shares for ₹2,07,000, while the bNII requires 73 lots of 43800 shares for an investment of ₹10,07,400.

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	7,91,69,000	5,93,76,750 3,95,84,500 1,97,92,250	13,85,45,750	34,69,46,500
Day 1 09-01-26 05:00 PM	0.30 x	16.41 x 15.21 x 18.81 x	9.30 x	8.11 x
Day 2 12-01-26 05:00 PM	1.44 x	96.43 x 92.98 x 103.35 x	27.00 x	33.71 x
Day 3 13-01-26 05:00 PM	310.81 x	258.02 x 275.64 x 222.78 x	49.25 x	146.80 x

Total No of Applications

90,58,330

Subscription on the basis of Applications

Retail:31.52x BHNI:53.98x SHNI:201.1x

Bharat Coking Coal Valuations

EPS Pre IPO ₹2.66/-

EPS Post IPO ₹0.53/-

P/E Pre IPO 8.64

P/E Post IPO 43.23

ROCE 30.13%

RoNW 20.83%

PAT Margin 8.61%

Price to Book Value 1.63

Market Cap. 10711.1 Cr.

Bharat Coking Coal Company Financials

In Crs.

In Cr.

	30-Sep-25	31-Mar-25	31-Mar-24	31-Mar-23
Assets	18711.13	17283.48	14727.73	13312.86
Revenue	6311.51	14401.63	14652.53	13018.57
Profit After Tax	123.88	1240.19	1564.46	664.78
Net Worth	5830.89	6551.23	5355.47	3791.01
Reserves & Surplus	1006.52	1805.73	664.72	-853.10
Total Borrowing	1559.13	N/A	N/A	N/A

About Bharat Coking Coal Company

Incorporated in 1972, Bharat Coking Coal Limited (BCCL) is involved in the mining of coking coal, non-coking coal, and washed coals. The company is a wholly-owned subsidiary of Coal India Limited.
As on March 31, 2025, the company has 32 mining facilities, which consist of 25 opencast, 3 underground, and 4 mixed mining facilities.
The primary product that the company deals with is Coking coal, which is served to the steel and power sectors. The approximate reserve of coking coal that BCCL has, as on April 1, 2024, is 7,910 million tonnes. In Fiscal 2025, BCCL's share in the overall domestic production of coking coal in India is 58.50 percent.
It has operations in Jharia, Jharkhand, and Raniganj in West Bengal, with a total leasehold area of 288.31 square kilometers.
The business domains of the company are opencast and underground mining, coal washeries, monetization of idle coal washeries via the ‘Washery Developer Operator (WDO)’ approach, restarting abandoned underground mining via the ‘Mine Developer Operator (MDO)’ approach, and the monetization of a solar power project via self-consumption as well as injection into the grid.
The coal production of the company grew from 30.51 million tons in Fiscal 2022 to 40.50 million tons in Fiscal 2025. In Fiscal 2024, the company’s output of coking coal stood at 39.11 million tons, while that of non-coking coal was 1.99 million tons.

Bharat Coking Coal - Promoter(s)

The President of India, acting through the Ministry of Coal

Government of India

Coal India Limited

Pre Issue Share Holding : 100%

Post Issue Share Holding : 90%

Bharat Coking Coal IPO - Issue Objectives

Offer For Sale

Bharat Coking Coal IPO - Anchor Investors

Bharat Coking Coal receives over Rs 273 crores from anchor investors before its initial public offering.
Life Insurance Corporation of India (LIC) was the largest investors in the anchor book of BCCL, acquiring 3.39 crore equity shares of Rs 78 crore, followed by Nippon Life India and Bandhan Mutual Fund acquiring 3.26 crore equity shares of Rs 75 crore each.
Remaining anchor investors included Societe Generale, Societe Generale UTI Mutual Fund, Societe Generale Citrine Fund, Societe Generale Rajasthan Global Securities, Societe Generale M7 Global Fund.
From the total allocation made to anchor investors, 7.17 crore shares were allocated to three mutual funds in India, namely Nippon Life India, UTI MF, & Bandhan Mutual Fund.

Bharat Coking Coal IPO - Peers Comparison

	P/B Ratio	P/E Ratio	RoNW	Revenue(in Cr.)
Bharat Coking Coal	N/A	N/A	20.83%	13802
Alpha Metallurgical	1.63	14.87	11.48%	25320
Warrior Met Coal, Inc	2.33	19.44	12.82%	13058

Strength

Largest Producer of Coking Coal with Huge Reserves: BCCL is the biggest producer of coking coal in India, accounting for 58.50% of Indian production during FY 2025. The firm has reserves of 7.91 billion tons of coking coal; hence, it is the only supplier of better quality coking coal in India (CRISIL Report). Its massive reserves ensure adequate availability for major sectors like steel, power, cement, and fertilizer.

Well-Located Mines with Advanced Washery Capacity: BCCL’s mining operations are situated within the rich Jharia and Raniganj coal deposits, ensuring their direct access to huge reserves of coal. BCCL has the highest coking coal washery capacity within India, standing at 13.65 MTPA, which makes it easier to produce high-quality coal.

Strong Position to Tap into Growing Demand for Coking Coal: The demand for coking coal in India is expected to increase from 67 million tons in FY 2025 to 104 million tons in FY 2030 (CRISIL report).

Weakness

Geographic Concentration of Mines and Reserves: The activities of BCCL are geographically concentrated in the Jharia coalfields in Jharkhand and Raniganj coalfields in West Bengal. The depletion of reserves or unavailability of reserves in these areas may result in affecting their production and may adversely affect their business.

Dependence on a Limited Vendor Base: The group is dependent on a few key vendors for its vital inputs and services such as diesel supplies, explosives, overburden removal services, coal production services, transportation services, and coal washing services. Should there be any disruption in these vendor relationships due to operations and financial problems faced by these vendors, it could influence the operations and performance.

Heavy Reliance on Third-Party Contractors: One of the primary factors that contribute to the coal mining and handling process at the company is the heavy use of third-party contractors; that is, the reliance on third-party contractors is rather high (approximately 78.47% in FY 2025). This is a threat to the organization because the third-party contractors may not be efficient and stable in terms of costs and quality.

Contact Details

Bharat Coking Coal

Koyla Bhawan, Koyla Nagar Dhanbad, Jharkhand, 826005

0326-2230190

cos.bccl@coalindia.in

http://www.bcclweb.in/

Registrar Contact Details

Kfin Technologies Limited

04067162222, 04079611000

bccl.ipo@kfintech.com

https://ipostatus.kfintech.com/

Bharat Coking Coal IPO - FAQs

Ans. Bharat Coking Coal Limited IPO is a Mainboard IPO. The issue is priced at ₹21-23 per equity share. The minimum order quantity is 600 Shares. The IPO opens on Jan 9, 2026, and closes on Jan 13, 2026. Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Bharat Coking Coal Limited IPO opens on Jan 9, 2026 and closes on Jan 13, 2026.

Ans. You can track the real-time subscription numbers using the links below:

Ans. The size of Bharat Coking Coal Limited IPO is Offer For Sale : 46,57,00,000 shares(aggregating up to ₹1071.11 Cr).

Ans. The Bharat Coking Coal Limited IPO price band is set between ₹21-23 per equity share.

Ans. To apply for Bharat Coking Coal Limited IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Bharat Coking Coal Limited IPO in the List of IPOs
- Press Apply Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Bharat Coking Coal Limited IPO is Jan 14, 2026.

Ans. The Bharat Coking Coal Limited IPO will be listed on Jan 19, 2026.

Ans. Follow the steps to check the Bharat Coking Coal Limited IPO allotment status online.