Heavy Subscription on Opening Day

The initial public offering (IPO) of Bharat Coking Coal, a subsidiary of Coal India, witnessed robust investor demand on its first day of bidding. The issue was fully subscribed within minutes of opening on Friday and went on to be subscribed nearly eight times by the end of the session.

Grey Market Premium (GMP) Surge

According to grey market trackers, Bharat Coking Coal shares are commanding a premium of 44–48%:

• Investorgain: GMP at ₹10.25, implying a potential listing gain of 44.57%.
• IPO Watch: Premium pegged at 47.83%.

The strong GMP reflects heightened investor confidence and expectations of significant listing gains.

Anchor Investor Participation

Ahead of the IPO, the company raised over ₹273 crore from anchor investors, adding credibility and momentum to the offering.

Issue Details

• IPO Size: ₹1,071 crore
• Price Band: ₹21–₹23 per share
• Valuation: At the upper end, the company is valued at over ₹10,700 crore
• Closing Date: January 13, 2026

Market Outlook

The combination of strong anchor backing, heavy subscription, and a sharp GMP suggests that Bharat Coking Coal’s IPO could deliver substantial listing gains. The offering also highlights investor appetite for resource‑linked companies amid rising demand for energy and raw materials.