Bharat Coking Coal IPO Listing: Bharat Coking Coal Limited (BCCL) share price made a bumper debut in the Indian stock market on Monday, January 19. The shares of Bharat Coking Coal got listed at a premium of 96.5% over the initial public offering (IPO) price of ₹23 per share.
Bharat Coking Coal share price opened at ₹45 on NSE and ₹45.21 on BSE. This means that the IPO allottees made 96.5% return on their investment following the BCCL IPO listing today.
The listing of Bharat Coking Coal IPO came in line with the grey market expectations. Ahead of listing, Bharat Coking Coal IPO GMP was trading at a premium of +13.6.
Bharat Coking Coal IPO details
The public issue opened for bidding on Friday, January 9, and closed on Tuesday, January 13, with the IPO allotment finalised on January 14.
BCCL IPO was priced in the range of ₹21– ₹23 per share. Through this book-built issue, the company raised ₹1,071.11 crore, entirely via an offer for sale, comprising 46.57 crore equity shares. Investors could bid in lots of 600 shares, translating into a minimum retail investment of ₹13,800 at the upper end of the price band.
According to NSE data, the issue saw an overwhelming overall subscription of 146.87 times. Demand was particularly strong across investor categories, with the retail portion subscribed 49.33 times, the QIB segment 310.81 times, and the NII category 258.16 times.
Since the IPO is entirely an offer for sale by the promoter, Coal India, all proceeds from the issue will accrue to the Maharatna PSU rather than the company. As outlined in the prospectus, the listing is intended to help the company leverage the benefits of being publicly traded.
IDBI Capital Markets Services Ltd. is the book-running lead manager for the issue, and Kfin Technologies Ltd. has been appointed as the registrar.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
