The initial public offering of Bharat Coking Coal Ltd is now in its final stretch. Investors have just one day left to apply for this mainboard public issue. The IPO opened on January 9, 2026, and will close on January 13, 2026.
Price Band and Fundraising Target
This subsidiary of Coal India Ltd has set its price band between ₹21 and ₹23 per equity share. The company aims to raise ₹1,071 crore through the Offer for Sale route. The shares are proposed for listing on both the BSE and the NSE.
Grey Market Premium Shows Recovery
Bharat Coking Coal shares have made a notable recovery in the grey market. After declining for two consecutive sessions, the shares now command a premium of ₹11. This represents a significant turnaround in sentiment.
Market observers point to improved secondary market conditions as the primary reason for this recovery. The rebound in broader Indian stock markets and strong investor response to the IPO itself have contributed to this positive shift.
Subscription Numbers Reveal Strong Demand
By 5:00 PM on the second day of bidding, the public issue demonstrated impressive subscription figures:
- The overall issue was booked 33.67 times
- The retail portion saw 26.94 times subscription
- The Non-Institutional Investor segment was filled 96.36 times
- The Qualified Institutional Buyer portion was subscribed 1.44 times
Analyst Recommendations Favor Subscription
Multiple brokerage firms have issued positive recommendations for the IPO.
Anand Rathi's Assessment
Anand Rathi has assigned a 'subscribe' rating to the public issue. The firm notes that Bharat Coking Coal holds a strong market position in its industry. At approximately 8.64 times price-to-earnings on FY25 earnings at the upper price band, the firm considers the valuation fair. They recommend subscribing for potential listing gains.
Marwadi Shares and Finance Analysis
Marwadi Shares and Finance also recommends subscribing. They highlight that the company is India's largest coking coal producer with access to substantial reserves. The strong parentage of Coal India Limited provides additional confidence. They find the valuation reasonable considering the company's growth potential.
Other Supporting Firms
Several other financial services companies have echoed this positive sentiment. Adroit Financial Services, DRChokesy, Kantilal Chhaganlal Securities, Aditya Birla Money, Axis Capital, Canara Bank Securities, GEPL Capital, Mehta Equities, Nirmal Bang, Swastika Investmart, and Ventura Securities have all assigned 'subscribe' ratings to the Bharat Coking Coal IPO.
Important IPO Details
Key dates and appointments for the public issue include:
- The most likely allotment date is January 14, 2026
- KFin Technologies serves as the official registrar
- IDBI Capital Markets Services and ICICI Securities are lead managers
- The most likely listing date is January 19, 2026
Disclaimer: This information serves educational purposes only. The views and recommendations presented belong to individual analysts or broking companies. We advise investors to consult certified experts before making any investment decisions.
