Bharat Coking Coal Limited is set to finalize the allotment of its highly oversubscribed initial public offering today, following one of the most robust subscription responses seen in recent PSU IPOs. The ₹1,071.00 crore public issue, which concluded on January 13, 2026, generated exceptional investor interest with a 147x oversubscription and attracted over 90.30 lakh applications. The strong response has been accompanied by a healthy grey market premium, keeping listing expectations elevated.

Allotment Status Check Process

Investors who participated in the IPO can verify their allotment status through two official channels once the basis of allotment is completed. The primary method involves visiting the Kfin Technologies allotment portal at ipostatus.kfintech.com, where investors need to select Bharat Coking Coal Limited from the dropdown menu and enter their PAN, application number, or DP ID to view their status.

Alternatively, investors can check their allotment on the BSE India website by selecting 'Equity' under Issue Type, choosing Bharat Coking Coal Limited from the dropdown, and entering their application number and PAN details before clicking search.

Subscription Details and Allotment Odds

The exceptional demand for the IPO is reflected in the subscription numbers across all investor categories. The issue received bids for nearly 5,093.17 crore shares against the offer size of approximately 346.90 million shares, resulting in the 147x overall subscription by the final day.

The heavy oversubscription across all categories indicates tight allotment odds, particularly for retail investors who may face the possibility of partial or no allotment despite the strong interest shown.

Timeline and Listing Schedule

Refunds for unsuccessful applicants are scheduled to be initiated on January 16, although the original schedule indicated January 15. The delay is attributed to January 15 being declared a settlement holiday due to municipal elections in Maharashtra. The stock is expected to list on both BSE and NSE on January 16, though official confirmation for this date is still pending.

Grey Market Performance

Bharat Coking Coal Limited shares are currently trading at a grey market premium of approximately ₹10.60, which represents a substantial 46.00% premium over the issue price of ₹23.00. While grey market trends remain unofficial and can fluctuate rapidly, such a significant premium suggests strong expectations for the company's market debut.

IPO Structure and Valuation

The book-built issue was entirely an offer for sale of 46.57 crore shares by Coal India Limited, with no fresh issue component. The price band was set between ₹21.00 and ₹23.00 per share, with the final pricing at the upper end of the band.

The combination of aggressive institutional bidding, record application numbers, and strong grey market performance has maintained high listing expectations, though investors are advised to consider broader market conditions and volatility factors beyond grey market premiums.

Bharat Coking Coal Limited's ₹1,071-crore initial public offering has set a strong precedent for 2026's primary market, achieving exceptional investor response on its final day. The IPO, which marks the first mainboard issue of the year, concluded with overwhelming demand across all investor categories.

Subscription Details

The IPO received extraordinary investor interest, with total bids reaching 5,095.50 crore shares against the 34.70 crore shares on offer. This translates to an overall subscription rate of 146.87 times, demonstrating robust market confidence in the coal sector company.

Institutional Interest Leads Demand

The Qualified Institutional Buyer portion emerged as the strongest performer, with subscription levels reaching 310.81 times the shares reserved for this category. Non-Institutional Investors followed closely with 258.16 times subscription, indicating significant interest from high-net-worth individuals and corporate investors.

Retail and Employee Participation

Retail investors showed substantial participation with 49.33 times subscription of their allocated portion. The employee reserved portion, typically seeing more modest participation, achieved 5.18 times subscription. Additionally, the portion specifically reserved for shareholders of parent company Coal India was subscribed 87.29 times, reflecting strong support from existing stakeholders.

Market Significance

As the first mainboard IPO of 2026, Bharat Coking Coal Limited's successful offering sets a positive tone for the year's primary market activities. The overwhelming response across all investor segments suggests strong market appetite for coal sector investments and confidence in the company's prospects.