By vmg@gmail.com 
The first mainboard IPO of 2026 is here. Bharat Coking Coal (BCCL), a wholly owned subsidiary of Coal India Limited (CIL), has filed its red herring prospectus on January 2, 2026. The IPO is set to open on January 9, 2026, with anchor investor bidding scheduled for January 8, 2026.
BCCL IPO Launch Schedule
| Event | Date |
|---|---|
| Anchor Bidding | January 8, 2026 |
| IPO Opening | January 9, 2026 |
| IPO Closing | January 13, 2026 |
| Basis of Allotment | January 14, 2026 |
| Tentative Listing on BSE/NSE | January 15, 2026 |
IPO Structure & Price Band
- Issue Size: ₹1,071.11 crores
- Type: Book-built Issue (100% Offer-for-Sale)
- Promoter Selling Shareholder: Coal India Limited (CIL)
- Equity Shares for Sale: Up to 46.57 crore
- Price Band: ₹21 – ₹23 per share
- Lot Size: 600 shares
- Cost Per Lot (at Cut-off ₹23): ₹13,800
Note: Since this is an OFS, all proceeds will go to Coal India Limited, and BCCL will not receive funds from the IPO.
Anchor Investor & Book Running Lead Managers
- Lead Managers: IDBI Capital Markets & Securities Limited, ICICI Securities Limited
- Registrar: KFin Technologies Limited
BCCL Grey Market Premium (GMP)
According to media reports, BCCL IPO GMP is around ₹39.5 over the IPO price, indicating strong market interest.
About Bharat Coking Coal (BCCL)
- Parent Company: Coal India Limited (CIL)
- Status: Mini Ratna (since 2014)
- Core Business: Leading producer of coking coal in India
- Market Share: ~58.5% of India’s domestic coking coal production (FY 2025, CRISIL)
- Other Products: Non-coking coal, beneficiated (washed) coal
- Primary Customers: Steel and power sectors
BCCL Financials Snapshot
| Financial Period | Revenue from Operations (₹ Crores) | Profit After Tax (₹ Crores) |
|---|---|---|
| 6 months ended Sep 30, 2025 | 5,659.02 | 123.88 |
| FY 2025 | 13,802.55 | 1,240.19 |
| FY 2024 | 14,245.86 | 1,564.46 |
| FY 2023 | 12,624.06 | 664.78 |
Key Points to Note for Investors
- IPO is purely an Offer-for-Sale (OFS), meaning proceeds go to CIL.
- Anchor investor bidding begins January 8, 2026.
- Basis of allotment will be finalised on January 14, 2026.
- Tentative listing on BSE and NSE is set for January 15, 2026.
- Investors can expect strong interest due to BCCL’s dominant position in coking coal production and GMP indication.
⚠️ Disclaimer
This information is for educational and informational purposes only. It does not constitute a recommendation to invest in Bharat Coking Coal (BCCL) IPO or any other financial instrument. Investors should conduct their own research or consult a financial advisor before investing.