Bharat Coking Coal IPO listing on Monday. Here's what GMP signals ahead of debut

Bharat Coking Coal IPO listing: After the successful allotment of Bharat Coking Coal IPO, the focus has now shifted to the listing date. Bharat Coking Coal IPO will make its stock market debut on Monday, January 19.

The Bharat Coking Coal IPO received a stellar response from investors across all categories during its subscription period.

The Bharat Coking Coal IPO drew overwhelming demand, with overall subscription reaching 146.87 times, according to NSE data. By the end of the third and final bidding day, the QIB portion was subscribed 310.81 times, while the NII segment received bids 258.16 times. The retail category also witnessed strong interest, closing at 49.33 times subscription.

Demand in the employee and shareholder segments was equally solid, garnering 5.18 times and 87.29 times subscriptions, respectively.

Overall, the ₹1,071-crore issue attracted bids totalling nearly ₹1.17 lakh crore.

Bharat Coking Coal IPO GMP today

Ahead of listing on Monday, the Bharat Coking Coal IPO is commanding a strong premium in the grey market.

The shares of Bharat Coking Coal IPO were trading at a premium of ₹13.2, as per Investorgain. This means that the GMP of Bharat Coking Coal IPO is +13.2.

The estimated listing price of Bharat Coking Coal IPO is likely to be ₹36.2, which is 57.39% higher than the IPO upper price band of ₹23.

Grey market premium (GMP) is an indicator which shows the primary market investors' willingness to invest in a public issue.

Bharat Coking Coal IPO details

The public issue was open for subscription from January 9 to January 13. The allotment for the Bharat Coking Coal IPO was finalised on January 14, while the shares are scheduled to list on Monday, January 19, on both the BSE and NSE.

The Bharat Coking Coal IPO is a book-built issue aggregating ₹1,071.11 crore and comprises entirely an offer for sale of 46.57 crore shares.

The price band has been fixed at ₹23 per share. Investors can apply in lots of 600 shares, with the minimum investment for retail applicants pegged at ₹13,800, based on the upper end of the price band.

The issue was purely an offer for sale by its promoter, Coal India, meaning the entire proceeds from the share sale will go to the Maharatna PSU and not to the company itself. In its prospectus, the company said the IPO is aimed at unlocking the advantages of being a listed entity.

IDBI Capital Markets Services Ltd. is acting as the book-running lead manager, while Kfin Technologies Ltd. has been appointed as the registrar to the issue.

About the company

Bharat Coking Coal Ltd (BCCL) is India’s largest coking coal producer in FY2025, contributing about 58.5% of the nation’s domestic coking coal output during the year.

Coking coal is its core product, supported by estimated reserves of around 7,910 million tonnes as of 1 April 2024, placing BCCL among the biggest holders of coking coal reserves in the country. The company produces multiple grades of coking coal, along with non-coking coal and washed coal, primarily catering to the steel and power sectors.

A wholly owned subsidiary of Coal India Limited (CIL), BCCL was accorded Mini Ratna status in 2014. Incorporated in 1972, the company is engaged in mining and supplying coking coal from its operations in the Jharia coalfield in Jharkhand and the Raniganj coalfield in West Bengal.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.