Despite the delay, investor sentiment remains robust as the IPO continues to reflect a strong grey market premium (GMP).
The issue is currently commanding a GMP of Rs 13 to Rs 14, implying a listing price of around Rs 36 to Rs 37 per share, compared with the issue price of Rs 23. This translates into a potential premium of about 56.2%, as indicated by data from the unofficial grey market.
Bharat Coking Coal subscription status
The public offering of Bharat Coking Coal witnessed an overwhelming response from investors. The IPO attracted bids worth over Rs 1.17 lakh crore, making it one of the most heavily subscribed PSU IPOs in recent memory. More than 50.93 crore shares were bid for at the upper price band, resulting in an overall subscription of nearly 147 times.
Over 90 lakh applications were received, underlining strong participation across retail, non-institutional and institutional investor categories. Qualified institutional buyers and the non-institutional investor segment were key drivers of demand, while retail investors and shareholder quota applicants also contributed meaningfully.
Bharat Coking Coal issue detailsIPO Price: Rs 23 per share
Lot Size: 600 shares
Total Investment for One Lot: Rs 13,800
Allotment Date: January 14, 2026
Revised Listing Date: January 19, 2026
Investors were able to check the allotment status starting January 14. The delay in listing has not dampened sentiment in unofficial markets, where the stock continues to trade at a strong premium.
About Bharat Coking Coal
Bharat Coking Coal holds a significant position in India’s energy and industrial ecosystem. As per the company’s offer documents, it is India’s largest producer of coking coal, contributing 58.5% of domestic output in FY25. It operates 34 mines across Jharkhand and West Bengal, with an estimated reserve base of 7.91 billion tonnes as of April 2024, accounting for over 20% of India’s total coking coal reserves.
The company is the only meaningful domestic source of prime coking coal, a critical input for the steel manufacturing sector. Its operations play a pivotal role in reducing India’s dependence on imported coking coal.
Also read: Infosys shares climb 5% on FY26 guidance hike post Q3 results. Is more upside left?
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)