Bharat Coking Coal IPO Details
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Bharat Coking Coal IPO opens for subscription on 09 Jan 2026 and closes on 13 Jan 2026. The IPO will be listed on NSE, BSE with the tentative listing date set for 16 Jan 2026.
Bharat Coking Coal IPO price band has been fixed at ₹21 – ₹23 per share.The face value is ₹10 per share with a lot size of 600.
Bharat Coking Coal IPO total issue size comprises 46,57,00,000 shares (aggregating up to ₹1071.11 Cr.). Offer for Sale consists of 46,57,00,000 shares (aggregating up to ₹1071.11 Cr.). Pre-issue shareholding stands at 4,65,70,00,000, which will increase to 4,65,70,00,000 post-issue.
Bharat Coking Coal IPO carries a ₹10 (43.48%) GMP, reflecting investor sentiment.
Bharat Coking Coal IPO Lot Size : Retail Minimum is 1 lot (600 shares) amounting to ₹13,800. Retail Maximum is 14 lots (8,400 shares) amounting to ₹193,200. SHNI Minimum is 15 lots (9,000 shares) amounting to ₹207,000. SHNI Maximum is 72 lots (43,200 shares) amounting to ₹993,600. BHNI Minimum is 73 lots (43,800 shares) amounting to ₹1,007,400.
The Lead Managers for Bharat Coking Coal IPO are crucial for the offering's success. They are responsible for a wide range of tasks, including preparing the company for the public market, managing the regulatory filings, and marketing the IPO to potential investors. The lead manager for this offering is ICICI Securities Ltd, IDBI Capital Markets Services Ltd. To assess their past performance and success in previous IPOs, you can view the Lead Manager Performance Summary report.
For detailed information, Refer to the Bharat Coking Coal Limited RHP.
Bharat Coking Coal IPO Details
Bharat Coking Coal IPO Subscription
Bharat Coking Coal IPO Application Wise Breakup (Approx)
Bharat Coking Coal IPO Dates
- 09 Jan 2026Opening dateOpen
- 13 Jan 2026Closing dateClose
- 14 Jan 2026Allotment Date Allotment
- 15 Jan 2026Initiation of RefundsRefund
- 15 Jan 2026Credit of SharesCredit
- 16 Jan 2026Listing dateListing
Bharat Coking Coal IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 600 | ₹13,800 |
| Retail Maximum | 14 | 8400 | ₹193,200 |
| SHNI Minimum | 15 | 9000 | ₹207,000 |
| SHNI Maximum | 72 | 43200 | ₹993,600 |
| BHNI Minimum | 73 | 43800 | ₹1,007,400 |
Bharat Coking Coal IPO Reservation
Promoter Holding
Bharat Coking Coal IPO Valuations
Bharat Coking Coal Financial Information
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 18,711.13 | 17,283.48 | 14,727.73 | 13,312.86 |
| Total Income | 6,311.51 | 14,401.63 | 14,652.53 | 13,018.57 |
| Profit After Tax | 123.88 | 1,240.19 | 1,564.46 | 664.78 |
| EBITDA | 459.93 | 2,356.06 | 2,493.89 | 891.31 |
| NET Worth | 5,830.89 | 6,551.23 | 5,355.47 | 3,791.01 |
| Reserves and Surplus | 1,006.52 | 1,805.73 | 664.72 | -853.10 |
| Total Borrowing | 1,559.13 | |||
| Amount in ₹ Crore | ||||
About Bharat Coking Coal IPO
Bharat Coking Coal Limited (BCCL), incorporated in 1972, is a leading coal mining company in India and a wholly-owned subsidiary of Coal India Limited. The Company is engaged in the production of coking coal, non-coking coal, and washed coal, primarily serving the steel and power industries.
As of September 30, 2025, BCCL operated a network of 34 operational mines, comprising 26 opencast mines, 4 underground mines, and 4 mixed mines. Its mining operations are concentrated in the Jharia coalfields of Jharkhand and the Raniganj coalfields of West Bengal, covering a total leasehold area of approximately 288.31 square kilometres.
Coking coal is the Company’s principal product, and BCCL plays a strategically important role in India’s domestic steel value chain. As of April 1, 2024, the Company had estimated coking coal reserves of approximately 7,910 million tonnes. In Fiscal 2025, BCCL accounted for 58.50% of India’s total domestic coking coal production, highlighting its critical contribution to the country’s industrial ecosystem.
The Company’s operations include opencast and underground mining projects, coal washeries, and various asset monetisation initiatives. These include monetisation of idle washeries under the Washery Developer and Operator (WDO) model, reopening of discontinued underground mines through the Mine Developer and Operator (MDO) model, and solar power project monetisation through self-consumption and grid injection.
BCCL has demonstrated consistent growth in coal production, with output increasing from 30.51 million tonnes in Fiscal 2022 to 40.50 million tonnes in Fiscal 2025. In Fiscal 2024, the Company produced 39.11 million tonnes of coking coal and 1.99 million tonnes of non-coking coal.
With its extensive reserve base, diversified mining portfolio, and strategic importance to India’s steel and power sectors, Bharat Coking Coal Limited remains a cornerstone of the country’s domestic coking coal supply chain.
Strength Of Bharat Coking Coal IPO
- Largest coking coal producer in India with access to large reserves.
- Strategically located mines with large washeries.
- Well positioned to capitalize on demand for coking coal in India.
- Strong parentage of Coal India Limited.
- Consistent track record of growth and financial performance.
- Experienced management team supported by committed employee base.
Risk Of Bharat Coking Coal IPO
- Information relating to its reserve and resource base included in this Red Herring Prospectus are estimates, and the company's actual production, revenues and expenditure with respect to its reserves and resources may differ materially from these estimates. Additionally, certain reserve and resource base information provided in this Red Herring Prospectus has been prepared and classified in accordance with Indian Standard Procedure guidelines (the "ISP Guidelines"), which has not been audited by SRK Mining Services (India) Private Limited ("SRK") and differs from international standards.
- The company's mines and washeries are concentrated in Jharia, Jharkhand and Raniganj, West Bengal and the eventual exhaustion of coal reserves in these areas or its inability to successfully exploit existing reserves may adversely affect the company's business, results of operations, financial conditions and cash flows.
- A significant portion of its revenues is derived from production of raw coking coal, which accounted for 77.20%, 74.13%, 75.72%, 75.75% and 74.79% of the company's revenue from operations in the six months period ended September 30, 2025 and 2024 and Fiscals 2025, 2024 and 2023, respectively. Any decline in demand for raw coking coal could have an adverse impact on its business, results of operations, financial condition and cash flows.
- The companyn has certain contingent liabilities that have been disclosed in the Restated Financial Information (Rs. 35,985.90 million as of September 30, 2025), which if materialize, may adversely affect its business, results of operations, financial condition and cash flows.
- The company is dependents upon the pricing and continued supply of raw materials, the costs and supply of which can be subject to significant variation due to factors outside its control.
- The company's business largely depends upon its top 10 customers which accounted for 83.89%, 82.46%, 88.88%, 80.79% and 83.10% of the company's revenue from operations in the six months period ended September 30, 2025 and 2024 and Fiscals 2025, 2024 and 2023, respectively. The loss of any of these customers could have an adverse effect on its business, financial condition, results of operations and cash flows.
- The company depends on a limited number of vendors to provide contractual services and any disruptions in their supply of services could adversely affect its business, results of operations, financial condition and cash flows.
- A portion of its coal production and coal handling operations are conducted through third party contractors which exposes it to fluctuations in contractual costs and risks relating to the quality of their services.
- The company is a wholly-owned subsidiary of Coal India Limited and the company rely on the support and resources provided by Coal India Limited. Any misalignment in strategic priorities or changes in Coal India Limited's overall strategy could affect its long-term planning and operational stability and may have an adverse impact on the company's business, results of operations, financial conditions and cash flows
- The company's ability to negotiate coal distribution and allocation is significantly influenced by the regulatory framework established by the Government of India under the New Coal Distribution Policy.
Objectives Bharat Coking Coal IPO
To be announced
Company Contact Details
Bharat Coking Coal Limited
Koyla Bhawan, Koyla Nagar
Dhanbad, Jharkhand
Phone: 0326-2230190
Email: cos.bccl@coalindia.in
Website: http://www.bcclweb.in/