Bharat Coking Coal Limited debuted strongly on the stock market with a nearly 96% premium after its IPO was subscribed about 147 times.
The stock saw some profit booking after listing but continued to trade well above its issue price, valuing the company at over ₹21,000 crore.
The ₹1,071-crore IPO was part of the government’s disinvestment plan, with all proceeds going to parent Coal India and none to BCCL.
Bharat Coking Coal Lists at 96% Premium, Shares Cool After Strong Debut
However, after the listing, the stock witnessed some profit booking. On the NSE, BCCL shares slipped to an intraday low of ₹40.22, while on the BSE they fell to ₹40.17, though prices remained well above the IPO level
Bharat Coking Coal Lists at 96% Premium, Shares Cool After Strong Debut
Summary
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State-owned coal miner Bharat Coking Coal Limited (BCCL) made a strong entry into the stock market on Monday, January 19, supported by exceptional investor interest during its IPO phase. The company’s shares were listed at ₹45 per share, delivering a premium of nearly 96% over the issue price of ₹23 and meeting market expectations of a solid debut.
The enthusiasm around the stock was driven by the overwhelming response to the IPO, which was subscribed nearly 147 times during the bidding period from January 9 to January 13. Investor demand was especially strong from qualified institutional buyers (QIBs), whose portion was subscribed more than 310 times, followed by non-institutional investors (NIIs) at over 258 times and retail investors at around 49 times.
The issue was fully subscribed within minutes of opening and also saw strong participation from anchor investors, from whom the company raised over ₹273 crore ahead of the public offer.
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However, after the listing, the stock witnessed some profit booking. On the NSE, BCCL shares slipped to an intraday low of ₹40.22, while on the BSE they fell to ₹40.17, though prices remained well above the IPO level. Despite the post-listing decline, the company’s market capitalisation stood at about ₹21,054 crore.
BCCL raised ₹1,071 crore through the IPO, which consisted entirely of an offer for sale by its parent company, Coal India. As a result, the coal miner will not receive any fresh capital from the listing.
Notably, the IPO forms part of the government’s broader disinvestment strategy aimed at unlocking value in Coal India’s subsidiaries and improving transparency through stock market participation.
BCCL is engaged in the mining and supply of coking coal, a key raw material for the steel industry. Its operations are mainly concentrated in the Jharia coalfields in Jharkhand and the Raniganj coalfields in West Bengal.
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The listing comes during a strong phase for India’s primary markets. In 2025, companies reportedly raised a record ₹1.76 lakh crore through IPOs, supported by healthy domestic liquidity, strong investor sentiment and favourable economic conditions, making BCCL’s debut one of the most closely watched listings of the year.
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