Bharat Coking Coal Ltd made a stellar stock market debut after listing with a premium of 96.5 percent, against the issue price of Rs 23.
Listing price details:
On the BSE, the stock was listed at Rs 45.21, a steep premium of 96.56 per cent from the issue price. At the NSE, the stock made its market debut at Rs 45, up 95.65 per cent. The company's market valuation stood at Rs 19,456.95 crore.
IPO subscription details:
The initial public offering of Bharat Coking Coal Limited (BCCL) saw a stunning investor participation, with a total of 146.87x subscriptions being received during the bidding period. Qualified Institutional Buyers subscribed 310.81 times, Non Institutional Investors subscribed 203.99 times and Retail Individual Investors subscribed 38.3 times.
The Rs 1,071-crore IPO had a price band of Rs 21-23 per share. The minimum investment needed to apply for the BCCL IPO was Rs 12,600/ per lot with 600 shares. The company's IPO was the first mainboard issue of 2026.
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"A combination of things like lower ticket price, reasonable valuations and strong parentage of Coal India have driven the surge in stock. One can look at Bharat Coking Coal as a proxy player for steelmakers, which currently enjoy a strong business outlook," said Sunny Agrawal, head of fundamental equity research at SBICAPS Securities, to Reuters.
About BCCL:
Bharat Coking Coal Limited (BCCL) is a wholly-owned subsidiary of Coal India Limited (CIL). The company was incorporated in 1972 to mine and supply coking coal concentrated in mines at Jharia, Jharkhand, and Raniganj, West Bengal, coalfields.