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Bharat Coking Coal IPO
Price Band
₹21.0–23.0
Issue Size
₹1068.78 Cr
Lot Size
600 shares
Min Investment
₹13,800
GMP
+₹18.5 (80.43%)
Issue Price
₹23.0
Bharat Coking Coal IPO AI Summary
- Bharat Coking Coal IPO is listed on BSE, NSE in the Coal sector.
- Price band: ₹21.0–₹23.0 per share, lot size 600 shares (min. investment ₹13,800).
- Subscription window: 09 Jan–13 Jan 2026, listing on 19 Jan 2026.
- Current GMP is +₹18.5 (80.43%), an estimated listing price of ₹42 — unofficial and can change daily.
Bharat Coking Coal Limited is a leading producer of coking coal in India, with significant reserves and a strong operational footprint. The company aims to utilize the proceeds from its IPO to enhance its market presence. Investors should consider the potential risks and rewards associated with this investment.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Bharat Coking Coal IPO Grey Market Premium (GMP) Today
GMP
+₹18.5
GMP %
+80.43%
Est. Listing
₹41.5
Updated: 14 Jul 2026 15:53
About the Company
Incorporated in 1972, Bharat Coking Coal Limited (BCCL) is engaged in the production of coking coal, non-coking coal, and washed coal. The company is a wholly-owned subsidiary of Coal India Limited. As of September 30, 2025, the company operates a network of 34 operational mines, including four underground, 26 opencast, and four mixed mines. The company's primary product is coking coal, catering to the steel and power industries. As of April 1, 2024, BCCL has an estimated coking coal reserve of approximately 7,910 million tonnes. In Fiscal 2025, BCCL accounted for 58.50% of the total domestic coking coal production in India. The company operates across Jharia, Jharkhand, and Raniganj, West Bengal, covering a total leasehold area of 288.31 square kilometres. The company's operations include opencast and underground mining projects, coal washeries, monetisation of idle washeries through the Washery Developer and Operator (WDO) model, reopening discontinued underground mines through the Mine Developer and Operator (MDO) model, and solar power project monetisation through self-consumption and grid injection. The company's coal production increased from 30.51 million tonnes in Fiscal 2022 to 40.50 million tonnes in Fiscal 2025. In Fiscal 2024, the company produced 39.11 million tonnes of coking coal and 1.99 million tonnes of non-coking coal. Competitive Strenghts ## Largest coking coal producer in India with access to large reserves. Strategically located mines with large washeries. Well-positioned to capitalise on demand for coking coal in India. Strong parentage of Coal India Limited. Consistent track record of growth and financial performance.
Company Financials (₹ Cr)
As of 2025-09-30
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 18,711.13 | 17,283.48 | 14,727.73 | 13,312.86 |
| Total Income | 6,311.51 | 14,401.63 | 14,652.53 | 13,018.57 |
| Profit After Tax | 123.88 | 1,240.19 | 1,564.46 | 664.78 |
| EBITDA | 459.93 | 2,356.06 | 2,493.89 | 891.31 |
| NET Worth | 5,830.89 | 6,551.23 | 5,355.47 | 3,791.01 |
| Reserves and Surplus | 1,006.52 | 1,805.73 | 664.72 | -853.10 |
| Total Borrowing | 1,559.13 |
Key Ratios
EPS
₹2.66
NAV
₹14.07
ROCE
30.13%
RoNW
20.83%
P/B Value
1.63
P/E Ratio
8.64
Market Cap
₹10711.10 Cr
PAT Margin
8.61%
Promoters
President of India
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Achieve the benefits of listing the Equity Shares on the Stock Exchange
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹13,018.57 Cr in the period ending 31 Mar 2023, rising to ₹14,652.53 Cr by 31 Mar 2024, and reaching ₹14,401.63 Cr in the period ending 31 Mar 2025. However, the latest figure of ₹6,311.51 Cr for the period ending 30 Sep 2025 is a 9-month figure and not directly comparable to the full fiscal years.
Profit Trend
Profit After Tax was ₹664.78 Cr in the period ending 31 Mar 2023, increasing to ₹1,564.46 Cr by 31 Mar 2024, and further to ₹1,240.19 Cr in the period ending 31 Mar 2025. The latest figure of ₹123.88 Cr for the period ending 30 Sep 2025 is also a 9-month figure and not directly comparable to the full fiscal years.
Valuation
The company's implied P/E ratio at the issue price of ₹23.0 is approximately 8.64, compared to peers trading at varying P/E ratios.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO compared to its issue price. A positive GMP suggests that the shares are likely to list at a premium, while a negative GMP indicates a potential discount. GMP is not a guaranteed indicator of future performance but reflects market sentiment leading up to the listing.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term investment horizon typically weigh IPOs like this against the company's fundamentals, market conditions, and sector performance. It's important to consider the potential risks and rewards before making an investment decision.
Who May Want to Wait
Investors who are risk-averse or those looking for quick returns may want to avoid IPOs like this, as they can be subject to market fluctuations and require a longer-term commitment to realize potential gains.
IPO Timeline, Explained
The IPO process includes several key dates: the opening date for subscription is January 9, 2026, and it will close on January 13, 2026. Allotment of shares will be finalized by January 14, 2026, followed by the listing date on January 19, 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when shares of an IPO are listed on the stock exchange. However, these gains are not guaranteed and can be influenced by various factors, including market conditions and investor sentiment. It's important to understand that while some IPOs may experience significant listing gains, others may not perform as expected.
This evaluation is generated from Bharat Coking Coal's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Bharat Coking Coal IPO GMP today?
Bharat Coking Coal IPO GMP today is +₹18.5 (80.43%), indicating an estimated listing price of ₹42. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Bharat Coking Coal IPO?
The price band of Bharat Coking Coal IPO is ₹21.0–₹23.0 per share.
When does Bharat Coking Coal IPO open and close?
Bharat Coking Coal IPO opens on 09 January 2026 and closes on 13 January 2026.
When does Bharat Coking Coal IPO list on the stock exchange?
Bharat Coking Coal IPO listed on 19 January 2026 at ₹41.5.
What is the lot size for Bharat Coking Coal IPO?
The lot size for Bharat Coking Coal IPO is 600 shares, requiring a minimum investment of ₹13,800.
What is the price band for the IPO?
The price band for the IPO is ₹21.0 to ₹23.0.
What is the lot size for the IPO?
The lot size for the IPO is 600 shares.
What is the minimum investment required?
The minimum investment required is ₹13,800.
When is the listing date for the shares?
The listing date for the shares is January 19, 2026.
What does GMP stand for?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
09 Jan 2026
Close
13 Jan 2026
Allotment
14 Jan 2026
Listing
19 Jan 2026
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