The Bharat Coking Coal Limited (BCCL) IPO is a Book Build Issue scheduled to open for subscription on January 9, 2026, and close on January 13, 2026. The company aims to raise approximately ₹1,071 crores, which includes an offer for sale (OFS) of up to 46,57,00,000 equity shares with a face value of ₹10 each.
Key IPO Schedule and Pricing
- Price Band: The shares are priced between ₹21 and ₹23 per share.
- Important Dates: Following the close of the subscription, the allotment is expected on January 14, 2026, with the listing on the BSE and NSE set for January 16, 2026.
- Market Lot: The minimum application is for 600 shares, requiring an investment of ₹13,800. Retail investors can apply for a maximum of 13 to 14 lots (up to 8,400 shares) totaling ₹1,93,200.
Investor Reservations and Promoters
The offering is structured to accommodate various investor categories:
- Qualified Institutional Buyers (QIB): 50% of the issue.
- Retail Investors: 35% of the issue.
- Non-Institutional Investors (NII/HNI): 15% of the issue.
- Special Note: Existing Coal India shareholders are eligible to apply under both the Retail and Shareholder categories.
The company is promoted by the President of India (acting through the Ministry of Coal) and Coal India Limited. Pre-issue, promoters hold 100% of the company, which is expected to adjust to 90% post-issue.
Company Profile and Financial Health
Established in 1972, BCCL is a “Mini Ratna” company that plays a critical role in India’s energy sector, producing nearly 58.5% of the nation’s domestic coking coal in FY25. It operates 32 mines across Jharkhand and West Bengal, primarily serving the steel and power industries.
Financial Performance Highlights:
- Revenue: Reported at ₹14,401.63 crores for 2025, a slight decrease from ₹14,652.53 crores in 2024.
- Profit After Tax (PAT): The company earned ₹1,240.19 crores in 2025, compared to ₹1,564.46 crores the previous year.
- Key Metrics (FY25): The company maintains a Return on Equity (ROE) of 20.83% and an EBITDA margin of 16.36%.
To understand BCCL’s market position, think of the company as the primary bakery providing the essential yeast for a city’s bread—just as the city relies on that bakery to make its bread rise, India’s steel and power industries rely on BCCL for the coking coal necessary to “fuel” their production.
