BCCL IPO bids end today: GMP indicates significant gain | Will you bid?

Kolkata: Bharat Coking Coal IPO has flagged off the mainboard public issues of 2026 with aplomb. Till the end of the second day of the bidding process (Jan 12) the issue was subscribed a massive 33.89 times overall -- 27.28 times in the retail category, 1.44 times in QIB (Ex Anchor) category and 96.68 times in the NII category.

Bharat Coking Coal is known to be the largest coking coal producer in India accounting for more than 58% of the material. But why is coking coal importance? Coking coal is important for making coke which is used to produce pig iron in blast furnace, which is a crude form of iron with high carbon and issued for making steel for making automotive parts, pipes, cookware, machinery and construction purposes. Therefore, a large and vital part of our daily lives is dependent on coking coal.

According to investorgain, Bharat Coking Coal IPO GMP was Rs 10.6 in early morning of Jan 13. Considering a price band of 23.00, the estimated listing price of Bharat Coking Coal shares will be Rs 33.6 and the listing gain in 46.09%. However, the face that one must never forget is that GMP is an unofficial indicator which can be volatile and, therefore, cannot guarantee listing gain.

Bharat Coking Coal IPO price band is Rs 21-23. The minimum lot size for a retail investor to invest in this issue is 600. The minimum amount of investment required by a retail investor is Rs 13,800 which is based on the upper end of the price band, while that for a sNII investor is 15 lots or 9,000 shares and that for a bNII investor is 73 lots or 43,800 shares. Employees can buy the shares at a discount of Re 1 and a total of 2,32,85,000 shares have been reserved for them. IDBI Capital Markets Services is the book running lead manager and Kfin Technologies is the registrar of the issue

SBI Securities has recommended subscription. It said investors can apply at the cut off price and at Rs 23 (upper band), the issue is valued at an EV/EBITDA multiple of 6.4x on post issue capital. While BCCL accounted for 58.5% of Indian production in FY25, it sits on estimated reserves of 7.91 billion tonnes and 34 operational mines. Between FY23 and FY25, BCCL has generated revenue, EBITDA and profit CAGR of 4.6%, 88.1% and 36.6% respectively, said SBI Securities.

Anand Rathi, too, has recommended subscription for listing gains. It has mentioned that 8.64x FY25 earnings at the upper band puts the valuation fair. Also the company has generated consistent track record and strong financials.

Bid closes: Jan 13, 2026

Allotment: Jan 14

Refund: Jan 15

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Credit of shares: Jan 15

Listing: Jan 16