Bharat Coking Coal IPO
Market Sentiment
IPO Details
IPO Reservation
Financial Analysis
| Metric | 2023 | 2024 | 2025 | Sep 2025 |
|---|---|---|---|---|
| Revenue | 13,018.57 | 14,652.53 | 14,401.63 | 6,311.51 |
| Expense | 12,488.38 | 12,560.86 | 12,698.74 | 6,112.17 |
| Profit (PAT) | 664.78 | 1,564.46 | 1,240.19 | 123.88 |
| Total Assets | 13,312.86 | 14,727.73 | 17,283.48 | 18,711.13 |
| Company | P/E | EPS | Market Cap (Cr) |
|---|---|---|---|
| Coal India | 8.50 | 52.30 | 2,85,000 |
| Singareni Collieries | 6.20 | 38.40 | 12,000 |
Promoters: the President of India, Acting Through The Ministry of Coal, Government of India And Coal India Limited. Details Of The Offer to the Public
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 4,65,70,00,000 | 100.00% |
| Promoter Holding Post Issue | 4,65,70,00,000 | 90.00% |
Company Information
Bharat Coking Coal Limited (BCCL), established in 1972, is one of the leading companies that mine and supply coking coal, non-coking coal, and washed coal. In 2014, the company received Mini Ratna status in the supply of coking coal serving the steel and power industries. The company runs its business with mines located at Jharia, Jharkhand, and Raniganj, West Bengal coalfields. Moreover, the company runs 32 mines, including 25 opencast, 3 underground, and 4 mixed mines as of March 31, 2025. In FY25, the company’s coal production increased to 40.50 million tonnes. Furthermore, in FY25, the company has produced nearly 58.5% of India’s domestic coking coal. They operate their business with open and underground mines, coal washeries, reopening discontinued underground mines, and coal washeries that are stopped or lying unused for some time.
Resources & Documents
Bharat Coking Coal Limited., Koyla Bhawan, Koyla Nagar,, Dhanbad Jharkhand,, India – 826005
Bharat Coking Coal has set a price band of Rs 21–Rs 23 per share for an issue size of Rs 1,071 crore in the coal & mining sector. The stock listed with a 76.43% gain versus its issue price on January 19, 2026.
Bharat Coking Coal Limited (BCCL), established in 1972, is one of the leading companies that mine and supply coking coal, non-coking coal, and washed coal. In 2014, the company received Mini Ratna status in the supply of coking coal serving the steel and power industries. The company operates in the coal & mining space.
The issue is promoted by the President of India, Acting Through The Ministry of Coal, Government of India And Coal India Limited. Details Of The Offer to the Public with IDBI Capital Markets Services Ltd., ICICI Securities Ltd. acting as lead manager.
Grey market is quoting a premium of +Rs 18 (+78.3% over issue price), up Rs 10 from the previous session. Final subscription data records overall subscription at 146.80x, retail at 49.25x, QIB at 310.81x, NII at 258.02x.
At the upper end of the price band, the issue is priced at a post-issue P/E of 7.19x. On fundamentals, the company is posting revenue growth of 8.5%, a profit margin of 12.4%, return on equity of 18.5% in its most recent reported period. Listed peers in this segment include Coal India (P/E 8.50x, market cap Rs 2,85,000 crore) and Singareni Collieries (P/E 6.20x, market cap Rs 12,000 crore) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
Our data-driven engine currently flags this issue as a Strong Subscribe — the data suggests strong listing-day potential backed by healthy fundamentals. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Understanding Grey Market Premium (GMP)
The Grey Market Premium (GMP) is an unofficial indicator of how an IPO's shares are trading in the grey market before they are officially listed on a stock exchange. It reflects investor sentiment and demand for the IPO shares ahead of listing day.
How does it work? The grey market is an informal, over-the-counter market where investors buy and sell IPO shares before the official listing date. If an IPO has a positive GMP, it suggests that investors expect the stock to list above its issue price. A negative GMP indicates expectations of a listing below the issue price.
Example: If an IPO has an issue price of ₹100 and the GMP is ₹50, the expected listing price would be approximately ₹150 (issue price + GMP). This translates to an estimated listing gain of 50%.
Factors that influence GMP:
- Subscription levels — Higher subscription typically drives GMP up
- Market conditions — Bullish markets tend to boost GMP across all IPOs
- Company fundamentals — Strong financials and growth potential attract premium
- Industry sentiment — Positive outlook for the sector can increase demand
- IPO pricing — Reasonably priced IPOs relative to peers tend to command higher GMP
Disclaimer: GMP is an unofficial metric from the grey market and is not regulated by SEBI or any stock exchange. GMP values fluctuate frequently and should not be the sole basis for investment decisions. Always consider company fundamentals, financial health, and your own risk appetite before investing in any IPO.
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