The initial public offering (IPO) of Bharat Coking Coal Ltd (BCCL), a subsidiary of state-owned Coal India, generated an exceptional response from investors, becoming one of the most oversubscribed public issues in recent times. The ₹1,071-crore IPO, which consisted entirely of an offer-for-sale (OFS) by Coal India, was subscribed nearly 147 times by the time applications closed, attracting bids worth an estimated ₹1.2 trillion from all investor categories.

Key Highlights

• Bharat Coking Coal IPO subscribed 147 times, attracting bids worth nearly ₹1.2 trillion.
• Strong demand from institutional, HNI, and retail investors highlights robust market sentiment.

Demand was especially strong among institutional investors, with the quota reserved for qualified institutional buyers (QIBs) snapped up more than 300 times, while high-net-worth individuals and retail investors also contributed significantly to the oversubscription. This enthusiastic participation underscores strong market confidence in BCCL’s business fundamentals and the broader appeal of the offering amid a bullish primary market environment.

Also Read: First IPO of 2026: Bharat Coking Coal Issue Sees Strong Demand

Priced in the range of ₹21–₹23 per share, the IPO values BCCL at over ₹10,700 crore at the upper band. Following the allotment, Coal India’s stake in the company will reduce to around 90 percent. The listing is scheduled for later this month and is widely anticipated to perform well, bolstered by strong subscription levels and positive sentiment in the grey market.

BCCL’s IPO also marks the first mainboard issue of 2026 in India, setting a robust tone for the year’s primary market activity.