Bharat Coking Coal Limited IPO Oversubscribed 146.87 Times on Final Day

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.

Investor Category:	Subscription Rate
Qualified Institutional Buyers (QIB):	310.81 times
Non-Institutional Investors (NII):	258.16 times
Retail Investors:	49.33 times
Employee Reserved Portion:	5.18 times
Coal India Shareholders:	87.29 times
Overall Subscription:	146.87 times

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.

Bharat Coking Coal Limited's highly anticipated IPO allotment is set to take place today, Wednesday, January 14, following remarkable investor enthusiasm. The ₹1,071 crore Offer for Sale (OFS) concluded with exceptional subscription levels, positioning the company among the most successful PSU offerings in recent history.

Exceptional Subscription Performance

The IPO achieved outstanding subscription numbers across all investor categories:

Category	Subscription Rate
Overall Subscription	146.8 times
Retail Investors	49.25 times
Qualified Institutional Buyers (QIBs)	310.81 times
Non-Institutional Investors (NIIs)	258 times
Employee Quota	5.17 times
Shareholders Category	87.2 times

With this performance, Bharat Coking Coal Limited became the second-most subscribed PSU IPO on record, trailing only Mazagon Dock's ₹444 crore IPO which achieved 157.41 times subscription. The issue, which opened for subscription on January 9, received bids for 5,093.16 crore shares against 34.69 crore shares on offer.

Key Timeline and Process

The company has outlined a clear timeline for the remaining IPO processes:

Event	Date
Allotment Date	January 14 (Wednesday)
Refunds and Share Transfer	January 15 (Thursday)
Listing Date	January 16 (Friday)

Shares are tentatively scheduled to be listed on both BSE and NSE on Friday, January 16. The company will initiate refunds for unsuccessful applicants and transfer shares to Demat accounts of successful investors on Thursday, January 15.

How to Check Allotment Status

Investors can verify their allotment status through multiple online platforms:

BSE Platform

Visit BSE IPO allotment page
Select 'Equity' under Issue Type
Choose 'Bharat Coking Coal Ltd' from Issue Name dropdown
Enter Application Number or PAN
Complete Captcha verification and click 'Search'

NSE Platform

Access NSE IPO allotment page
Select 'Equity and SME IPO bid details'
Choose BHARATCOAL from company symbols list
Provide PAN and Application Number
Click 'Submit' to view status

Kfin Technologies (Registrar)

Visit KFinTech IPO allotment page
Select Bharat Coking Coal Ltd from dropdown
Choose verification method: PAN, Application Number, or Demat Account
Enter required details and click 'Submit'

About the Company and IPO Structure

Bharat Coking Coal Limited, established in 1972, operates as a wholly-owned subsidiary of Coal India Ltd. The company specializes in producing coking coal, non-coking coal, and washed coal, with coking coal serving as its primary product for steel and power industries.

IPO Parameter	Details
Issue Size	₹1,071.11 crore
Issue Type	Offer for Sale (OFS)
Shares Offered	46.57 crore shares
Price Band	₹21 to ₹23 per share
Minimum Lot Size	600 shares
Minimum Investment	₹13,800 (at upper price)

The mainboard issue was entirely structured as an offer-for-sale, with retail investors required to bid for a minimum lot size of 600 shares, representing a minimum investment of ₹13,800 at the upper limit of the issue price.