BCCL IPO Surges to ₹1.17 Lakh Crore Bids, 147x Oversubscribed
Overview
Bharat Coking Coal Limited's (BCCL) initial public offering drew an immense ₹1.17 lakh crore in bids, achieving an astonishing 146.8 times subscription. Record demand from qualified institutional buyers and high-net-worth individuals fueled the ₹1,071-crore issue. With a strong grey market premium indicating significant listing gains, BCCL's debut on January 16, 2026, is highly anticipated.
Stocks Mentioned
Bharat Coking Coal Limited's (BCCL) initial public offering concluded with an overwhelming ₹1.17 lakh crore in total bids, securing an unprecedented 146.8 times subscription. The ₹1,071-crore public issue, priced between ₹21 and ₹23 per share, attracted bids for 5,093 crore shares against the 34.69 crore on offer. This surge in demand, supported by over 90 lakh applications, positions the BCCL IPO as one of the most subscribed public offerings recently.
### Record Institutional Appetite
Qualified institutional buyers (QIBs) spearheaded the demand, with their portion being subscribed a record 310.81 times. QIBs bid for 2,461 crore shares against an allocation of 7.91 crore shares. Foreign institutional investors (FIIs) were significant contributors, bidding for ₹7.43 lakh crore, while domestic financial institutions committed ₹10.09 lakh crore. Mutual funds also participated actively, placing bids worth ₹1.07 lakh crore.
### Strong Retail and Shareholder Participation
The BCCL IPO also saw robust engagement from retail investors, with the segment subscribing 49.25 times. Employees subscribed their quota 5.17 times, and the dedicated shareholder reservation segment garnered 87.20 times the shares offered. The strong subscription levels are attributed to favorable sector fundamentals, the backing of its parent company Coal India Limited, and optimistic grey market trends.
### Positive Listing Outlook
Shares of BCCL traded at a grey market premium (GMP) of ₹10.5, suggesting a potential listing price of ₹33.5 per share, an impressive 45.65% increase over the issue price. The public sector undertaking (PSU) is slated to debut on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on January 16, 2026. The IPO was entirely an offer for sale (OFS) by Coal India Limited, which offloaded a 10% equity stake in BCCL, India's largest producer of coking coal. Prior to the public offering, BCCL secured ₹273.10 crore from anchor investors.
