Bharat Coking Coal Limited IPO: Subscription Status and Allotment Details

The Bharat Coking Coal Limited (BCCL) IPO has made waves as the first major PSU IPO of 2026, achieving a remarkable subscription rate of 146.8 times. This article delves into the details of the IPO, including its allotment status, listing information, and how to check your allotment. With BCCL being a key player in India's coking coal production, the anticipated listing promises potential gains, contingent on market conditions. Stay informed about this significant investment opportunity.

By Narendra Chaudhary Jan 15, 2026, 12:22 IST

Overview of the BCCL IPO

The IPO of Bharat Coking Coal Limited (BCCL), a wholly-owned subsidiary of Coal India Limited, marked the first significant PSU IPO of 2026, garnering an impressive response.

This initial public offering was valued at ₹1,071 crores and consisted entirely of an Offer for Sale (OFS), with 46.57 crore equity shares available for purchase. The price range was set between ₹21 and ₹23 per share, with the upper limit fixed. The IPO opened on January 9, 2026, and closed on January 13, 2026.

Subscription Status

By the final day, the IPO was subscribed a remarkable 146.8 times, making it the second most subscribed PSU IPO on record, just shy of the Dock's record. The Qualified Institutional Buyers (QIB) category saw a subscription rate of over 310 times, while Non-Institutional Investors (NII) subscribed 258 times, and retail investors subscribed 49 times. This high demand is attributed to BCCL's strong position in India's coking coal production, holding approximately 58.5% market share in FY25, alongside the robust demand from the steel and power sectors.

Allotment Update

The allotment process was finalized on Wednesday, January 14, 2026. Successful applicants are currently having shares credited to their Demat accounts by January 16, while unsuccessful applicants are undergoing the refund process.

Listing Details

Shares are set to be listed on both BSE and NSE. However, some reports indicate that the listing date may be postponed to January 19, 2026 (Monday), due to municipal elections in Maharashtra, shifting the original date from January 16.

Grey Market Premium (GMP)

Post-allotment, the Grey Market Premium (GMP) has been hovering around ₹13.4-13.5, indicating a premium of approximately 58% over the upper price band of ₹23. The anticipated listing price is estimated to be around ₹36-37, although this is unofficial and subject to market conditions.

How to Check Allotment Status?

KFin Technologies (Registrar): Visit their website, select 'Bharat Coking Coal Limited', and search using your PAN/application number/DP ID.

NSE: Go to the NSE IPO bid status page, select 'BHARATCOAL', and enter your PAN/application number.

BSE: On the BSE allotment page, select the issue and enter the required details.

Conclusion

BCCL stands as India's largest coking coal producer, boasting reserves of approximately 7,910 million tons. Its significance to the steel industry and its status as a PSU reflect strong fundamentals. While good gains are anticipated upon listing, the actual performance will depend on prevailing market conditions.