Bharat Coking Coal IPO: GMP signals 56% premium ahead of issue opening. Check key dates, shareholder quota details

Bharat Coking Coal Limited (BCCL), a wholly owned subsidiary of Coal India, is generating strong pre-listing buzz ahead of its maiden public issue, scheduled to open on January 9. The grey market premium (GMP) for the IPO is currently hovering around Rs 13–Rs 14 per share, implying a potential upside of 56.52% over the upper end of the offer price band of Rs 23 per share.

The grey market premium reflects the unofficial price at which IPO shares are being traded before their official listing.

In BCCL’s case, the estimated grey market trading price stands around Rs 36–Rs 37. This elevated premium signals robust investor sentiment and expectations of a healthy listing pop.

However, it is important to note that GMPs are speculative in nature and are not a guarantee of actual listing performance, though they are often used as directional cues by retail and high-net-worth investors.

Bharat Coking Coal IPO offer details

The Bharat Coking Coal IPO will open for subscription from January 9 to January 13, with a price band of Rs 21–Rs 23 per equity share and a lot size of 600 shares. The issue is a pure offer-for-sale (OFS) of up to 46.57 crore equity shares, aggregating to a total size of Rs 1,071 crore.

The company will not receive any proceeds from the issue, as all shares are being offloaded by the parent entity, Coal India.

A Re 1 per share discount is being offered to eligible employees applying under the reserved portion.

BCCL’s equity shares will be listed on the mainboard platforms of both NSE and BSE.

Key dates to track for Bharat Coking Coal IPO

• Anchor bidding: Opens on January 8
• Public issue: Open from January 9 to 13
• Basis of allotment: On or around January 14
• Refunds and unblocking of ASBA funds: From January 15
• Listing date: Tentatively January 16

Eligibility under shareholder quota

Investors holding shares of Coal India Limited as of the record date, January 1, 2026, are eligible to apply under the shareholder quota in the BCCL IPO.

This provision enables existing shareholders of the parent company to participate in the offering under a separate category.

As the IPO opens in a few days, all eyes are now on the subscription numbers and final listing performance, especially in light of the strong premium being seen in the grey market.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)