Bookbuilding IPO | ₹1,069 Cr | Listed at BSE, NSE
Bharat Coking Coal IPO is a book build issue of ₹1,068.78 crores. The issue is entirely an offer for sale of 46.57 crore shares of ₹1,068.78 crore.
Bharat Coking Coal IPO bidding started from Jan 9, 2026 and ended on Jan 13, 2026. The allotment for Bharat Coking Coal IPO was finalized on Jan 14, 2026. The shares got listed on BSE, NSE on Jan 19, 2026.
Bharat Coking Coal IPO price band is set at ₹23 per share. The lot size for an application is 600. The minimum amount of investment required by an retail is ₹13,800 (600 shares) (based on upper price). The lot size investment for sNII is 15 lots (9,000 shares), amounting to ₹2,07,000, and for bNII, it is 73 lots (43,800 shares), amounting to ₹10,07,400.
The issue includes a reservation of up to 2,32,85,000 shares for employees offered at a discount of ₹1.00 to the issue price.
IDBI Capital Markets Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Bharat Coking Coal IPO RHP for detailed Information.
IPO Open
Fri, Jan 9, 2026
IPO Close
Tue, Jan 13, 2026
Issue Price
₹23 per share
Market Cap (Pre-IPO)
₹10,711.10 Cr
| IPO Date | 9 to 13 Jan, 2026 |
| Listed on | Mon, Jan 19, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹21 to ₹23 |
| Issue Price | ₹23 per share |
| Lot Size | 600 Shares |
| Sale Type | Offer For Sale |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹1.00 |
| Total Issue Size | 46,57,00,000 shares (agg. up to ₹1,069 Cr) |
| Share Holding Pre Issue | 4,65,70,00,000 shares |
| Share Holding Post Issue | 4,65,70,00,000 shares |
| BSE Script Code / NSE Symbol | 544678 / BHARATCOAL |
| ISIN | INE05XR01022 |
Bharat Coking Coal IPO offers total 46,57,00,000 shares. Out of which 19,79,22,500 (42.50%) allocated to QIB, 7,91,69,000 (17.00%) allocated to QIB (Ex- Anchor), 5,93,76,750 (12.75%) allocated to NII 13,85,45,750 (29.75%) allocated to RII and 11,87,53,500 (25.50%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 19,79,22,500 (42.50%) | NA |
| − Anchor Investor Shares Offered | 11,87,53,500 (25.50%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 7,91,69,000 (17.00%) | NA |
| NII (HNI) Shares Offered | 5,93,76,750 (12.75%) | NA |
| − bNII > ₹10L | 3,95,84,500 (8.50%) | 4,398 |
| − sNII < ₹10L | 1,97,92,250 (4.25%) | 2,199 |
| Retail Shares Offered | 13,85,45,750 (29.75%) | 2,30,909 |
| Employee Shares Offered | 2,32,85,000 (5.00%) | NA |
| Shareholders Shares Offered | 4,65,70,000 (10.00%) | NA |
| Total Shares Offered | 46,57,00,000 (100.00%) |
Investors can bid for a minimum of 600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹13,800 |
| Retail (Max) | 14 | 8,400 | ₹1,93,200 |
| S-HNI (Min) | 15 | 9,000 | ₹2,07,000 |
| S-HNI (Max) | 72 | 43,200 | ₹9,93,600 |
| B-HNI (Min) | 73 | 43,800 | ₹10,07,400 |
Bharat Coking Coal IPO raises ₹273.13 crore from anchor investors. Bharat Coking Coal IPO Anchor bid date is January 8, 2026.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Jan 8, 2026 |
| Shares Offered | 11,87,53,500 |
| Anchor Portion (₹ Cr.) | 273.13 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Feb 12, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Apr 13, 2026 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only shareholder | Up to Rs 2 Lakhs | Allowed only if bidding amount is upto Rs 2 lakhs |
| Only employee | Up to Rs 5 Lakhs | Yes |
| Employee + Shareholder |
|
Yes |
| Employee + Shareholder + RII/NII |
|
Yes for shareholder/employee/RII |
| Shareholder + RII/NII |
|
Yes for shareholder/RII |
| Employee + RII/NII |
|
Yes for shareholder/RII |
Note: To be eligible for the Shareholder Quota, you must hold shares in one of the following companies:
Incorporated in 1972, Bharat Coking Coal Limited (BCCL) is engaged in the production of coking coal, non-coking coal, and washed coal. The company is a wholly-owned subsidiary of Coal India Limited.
As of September 30, 2025, the company operates a network of 34 operational mines, including four underground, 26 opencast, and four mixed mines.
The company's primary product is coking coal, catering to the steel and power industries. As of April 1, 2024, BCCL has an estimated coking coal reserve of approximately 7,910 million tonnes. In Fiscal 2025, BCCL accounted for 58.50% of the total domestic coking coal production in India.
The company operates across Jharia, Jharkhand, and Raniganj, West Bengal, covering a total leasehold area of 288.31 square kilometres.
The company's operations include opencast and underground mining projects, coal washeries, monetisation of idle washeries through the Washery Developer and Operator (WDO) model, reopening discontinued underground mines through the Mine Developer and Operator (MDO) model, and solar power project monetisation through self-consumption and grid injection.
The company's coal production increased from 30.51 million tonnes in Fiscal 2022 to 40.50 million tonnes in Fiscal 2025. In Fiscal 2024, the company produced 39.11 million tonnes of coking coal and 1.99 million tonnes of non-coking coal.
Competitive Strenghts
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 18,711.13 | 17,283.48 | 14,727.73 | 13,312.86 |
| Total Income | 6,311.51 | 14,401.63 | 14,652.53 | 13,018.57 |
| Profit After Tax | 123.88 | 1,240.19 | 1,564.46 | 664.78 |
| EBITDA | 459.93 | 2,356.06 | 2,493.89 | 891.31 |
| NET Worth | 5,830.89 | 6,551.23 | 5,355.47 | 3,791.01 |
| Reserves and Surplus | 1,006.52 | 1,805.73 | 664.72 | -853.10 |
| Total Borrowing | 1,559.13 | |||
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Achieve the benefits of listing the Equity Shares on the Stock Exchange |
| KPI | Sep 30, 2026 | Mar 31, 2025 |
|---|---|---|
| ROCE | 30.13% | |
| RoNW | 13.12 | 20.83% |
| PAT Margin | 1.96% | 8.61% |
| EBITDA Margin | 7.29% | 16.36% |
| Price to Book Value | 1.84 | 1.63 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 2.66 | 0.53 |
| P/E (x) | 8.64 | 43.23 |
| Promoter Holding | 100% | 90% |
| Market Cap | ₹10,711.10 Cr. |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs’ fees and commissions (including underwriting commission) | 33.34 |
| 2 | Brokerage and selling commission and bidding/uploading charges payable to members of the Syndicate (including their Sub-Syndicate Members), RTAs, CDPs and Registered Brokers | 2.03 |
| 3 | Fees payable to Registrar of the Offer | 0.06 |
| 4 | Non statutory advertising and other marketing expenses | 5.41 |
| 5 | Listing fees, SEBI fees, upload fees, BSE and NSE processing fees, book-building software fees | 12.21 |
| 6 | Fees payable to other parties, including but not limited to Statutory Auditors, Practicing Company Secretary, technical expert and industry expert. | 3.12 |
| 7 | Fees payable to legal counsels | 3.84 |
| 8 | Miscellaneous | 0.45 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹23.00 | ₹23.00 |
| Open | ₹45.21 | ₹45.00 |
| Low | ₹40.13 | ₹40.12 |
| High | ₹45.21 | ₹45.09 |
| Last Trade | ₹40.66 | ₹40.58 |
Lead Manager Reports
Bharat Coking Coal IPO is a main-board IPO of 46,57,00,000 equity shares of the face value of ₹10 aggregating up to ₹1,069 Crores. The issue is priced at ₹23 per share. The minimum order quantity is 600.
The IPO opens on Fri, Jan 9, 2026, and closes on Tue, Jan 13, 2026.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Bharat Coking Coal IPO using UPI as a payment gateway. Zerodha customers can apply in Bharat Coking Coal IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Bharat Coking Coal IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Bharat Coking Coal IPO opens on Fri, Jan 9, 2026 and closes on Tue, Jan 13, 2026.
Bharat Coking Coal IPO lot size is 600, and the minimum amount required for application is ₹13,800.
You can apply in Bharat Coking Coal IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Bharat Coking Coal IPO will be done on Wednesday, January 14, 2026, and the allotted shares will be credited to your demat account by Thu, Jan 15, 2026. Check the Bharat Coking Coal IPO allotment status.
The Bharat Coking Coal IPO listing date is on Mon, Jan 19, 2026.
