Bharat Coking Coal Limited IPO Allotment Status & Subscription Details

Bharat Coking Coal Limited (BCCL) IPO closed today, January 13, 2026.

The issue was a 100% Offer for Sale (OFS) by Coal India Ltd, aggregating ₹1,071.11 crore, with no fresh issue component. The IPO is priced in the band of ₹21–₹23 per share and is scheduled to be listed on NSE and BSE.

The allotment is expected to be finalized on January 14, 2026, while the listing is likely on January 16, 2026.

BCCL is India’s largest producer of coking coal, supplying the backbone fuel for the domestic steel industry. With over 58.5% market share in coking coal, the company plays a critical role in India’s infrastructure and manufacturing ecosystem.

How to Check BCCL IPO Allotment Status

Option 1: Check on BSE Website

• Visit the BSE IPO Application Status page
• Select ‘Equity’ under Issue Type
• Choose Bharat Coking Coal Limited under Issue Name
• Enter your Application Number or PAN
• Click Submit

Option 2: Check on NSE Website

• Visit the NSE IPO Allotment page
• Select Equity and choose BCCL IPO
• Enter your PAN or Application Number
• Click Submit

Option 3: Check on Registrar Website (KFin Technologies)

• Visit KFintech’s IPO allotment portal
• Select BCCL IPO from the dropdown
• Enter PAN / Application No / DP Client ID
• Click Submit

BCCL IPO Subscription Status (As on Last Day)

Investor Category	Subscription
QIB	310.81x
NII	257.77x
Retail (RII)	48.51x
Total	146.39x

Key Insight:
Massive participation from Non-Institutional and Retail investors clearly reflects strong speculative and listing-day interest in the issue.
The GMP trend signals extremely strong listing sentiment, supported by steel sector demand, BCCL’s monopoly positioning and limited public float.

Company Overview

Bharat Coking Coal Limited (BCCL) is India’s largest producer of metallurgical (coking) coal, accounting for nearly 58.5% of domestic coking coal output. The company operates 34 coal mines in Jharkhand, with a production capacity of 40.5 MT, supplying coal primarily to steel manufacturers like SAIL and large private steel producers.

Its coal reserves stand at an estimated 14,865 million metric tonnes, making BCCL one of the most resource-rich coal companies in the country.

Financial Snapshot

Metric	FY24 (₹ Cr)	FY25 (₹ Cr)
Revenue	14,245	13,802
Assets	15,206	17,792
Profit	1,564	1,240

BCCL is a debt-free company with healthy operating margins, providing long-term stability and predictable cash flows.

Objects of the Issue

This IPO is a pure OFS, meaning:

• No funds will come into BCCL
• Entire proceeds go to Coal India Ltd
• Purpose is to unlock subsidiary value, improve public float, and strengthen corporate governance transparency

Peer Comparison (Valuation Comfort)

Company	P/E
BCCL (IPO)	~8.6x
NMDC	10.1x
Vedanta	26.1x
Lloyds Metals	37.3x

BCCL is entering markets at a discount valuation to most peers, despite superior reserve quality and monopoly coking coal positioning.

Final Word

BCCL combines monopoly-like dominance in the coking coal segment with strong cash-generating operations, a low valuation entry point, and exceptionally heavy retail and HNI participation, all reinforced by a powerful grey market premium trend. Together, these factors position BCCL as one of the strongest PSU listings in recent years ,attractive both for listing-day gains and long-term fundamental value.