Bharat Coking Coal IPO review covers an upcoming PSU issue opening in January 2026, which is mainly important for investors who prefer PSU IPOs, the coal sector, and long-term stability.
In this article, we have explained Bharat Coking Coal Limited (BCCL) IPO details, subscription status, financial performance, strengths, risks, and whether investors should apply or skip this IPO.
Bharat Coking Coal IPO Key Details
| Particulars | Details |
| IPO Name | Bharat Coking Coal IPO |
| IPO Type | Mainboard IPO |
| Issue Size | 1,071.11 crore |
| Price Band | 21 – 23 per share |
| Lot Size | 600 shares |
| Minimum Investment | 13,800 |
| Issue Open Date | 09 January 2026 |
| Issue Close Date | 13 January 2026 |
| Listing Date | 16 January 2026 |
About Bharat Coking Coal Limited (BCCL)
Bharat Coking Coal Limited (BCCL) is a Government of India enterprise that was incorporated in 1972. The company is a wholly owned subsidiary of Coal India Limited (CIL) and plays a very important role in India’s coking coal ecosystem.
BCCL mainly operates in the Jharia coalfield (Jharkhand) and Raniganj coalfield (West Bengal). The company’s core business includes mining, processing, and supply of coking coal, non-coking coal, and washed coal, which are mainly supplied to the steel and power industries.
Key Management & Promoters
- MD & CEO: Mr. Manoj Kumar Agarwal
- Promoter: President of India (through the Ministry of Coal)
- Parent Company: Coal India Limited
Bharat Coking Coal IPO Schedule (Tentative)
| Event | Date |
| Issue Opens | 09 Jan 2026 |
| Issue Closes | 13 Jan 2026 |
| UPI Mandate Deadline | 13 Jan 2026 (5 PM) |
| Allotment Finalization | 14 Jan 2026 |
| Refund Initiation | 15 Jan 2026 |
| Shares Credit to Demat | 15 Jan 2026 |
| Listing on Exchange | 16 Jan 2026 |
| Anchor Lock-in (50%) | 13 Feb 2026 |
| Anchor Lock-in (Remaining) | 14 Apr 2026 |
Note: The dates are tentative. The anchor lock-in period is calculated after the actual allotment.
Operational Strength & Reserves
- In FY25, BCCL was India’s largest coking coal producer.
- Estimated coal reserves: ~7,910 million tonnes
- Total operational mines: 34
- 26 Opencast
- 4 Underground
- 4 Mixed Mines
These numbers make BCCL a strategically strong PSU.
Bharat Coking Coal IPO Issue Structure
This IPO is a pure Offer For Sale (OFS).
- Total Issue Size – 1,071.11
- Fresh Issue – Nil
- Offer For Sale – 1,071.11
This means the money raised from the IPO will go to the existing shareholders and will not be added directly to the company’s balance sheet.
Bharat Coking Coal IPO Subscription Status
Subscription Data (as of 09 Jan 2026, 5:00 PM)
- QIB – 0.30x
- NII / HNI – 16.40x
- Retail – 9.29x
- Employees – 0.83x
- Shareholders – 10.87x
- Total – 8.10x
The IPO has seen strong demand from the Retail and HNI/NII categories.
Bharat Coking Coal IPO GMP (Grey Market Premium)
According to media reports Bharat Coking Coal IPO GMP: 9.85 (approx)
Disclaimer: GMP is an unofficial indicator and is not considered fully reliable. The actual performance will depend on market conditions on the listing day.
Bharat Coking Coal Financial Performance
Financials in Crores
| Period | Revenue |
| FY 2023 | 12,624.06 |
| FY 2024 | 14,245.86 |
| FY 2025 | 13,802.55 |
| Sep 30, 2025 (6M) | 5,659.02 |
The company is profit-making, but its earnings show cyclical trends, which is common in commodity-based businesses.
Bharat Coking Coal IPO – Key Strengths
- A critical coking coal supplier for India’s steel sector
- Strong operating history of over 50 years
- Strong backing from the Government of India and Coal India Limited
- Large and proven coal reserves
- Integrated mining and processing operations
These strengths make BCCL a stable and important PSU company in the coal sector.
Bharat Coking Coal IPO – Key Risks
- Heavy dependence on demand from the steel industry
- Geographic concentration risk in mining operations
- Strong impact of government regulations and policies
- Exposure to legal and contingent liabilities
- Dependence on Coal India Limited for strategic decisions
These risks should be carefully considered before investing in the IPO.
How to Check Bharat Coking Coal IPO Allotment Status?
To check the allotment status:
- Visit the KFin Technologies IPO allotment status page
- Select Bharat Coking Coal Limited from the company list
- Enter your PAN / Application Number / DP ID
- Click on Submit
You will be able to see your IPO allotment status on the screen.
Bharat Coking Coal IPO Review: Should You Apply or Not?
For long-term investors who:
- Prefer PSU stocks
- Want exposure to the coal and infrastructure theme
- Look for stability with moderate risk
For short-term listing gain seekers:
- Returns will depend on GMP and overall market sentiment
- Listing-day volatility should be expected
Always align your investment decision with your risk profile and investment goals.
Overall Verdict:
In my view, long-term investors may consider applying to this IPO, but short-term investors should not expect guaranteed returns.
Disclaimer
This Bharat Coking Coal IPO review is written only for educational purposes to help readers understand the IPO details. Investing in the stock market always involves risk. Before applying for any IPO, please consult your financial advisor and consider your own financial goals and risk profile.
Read Also : Upcoming IPO 2026 – New & Latest IPO List | IPOs Watch 2026
I’m Satyam. I have been investing in the stock market for the past three years and continuously learning to understand market trends and financial insights. I have completed my B.Com and I enjoy learning new things and sharing useful knowledge with people in a simple and clear way. As a content writer, my goal is to create content that is accurate, helpful, and practically valuable for readers.