BCCL IPO listing date changes: Public offer records huge subscription, GMP soars

New Delhi: BCCL IPO Investors will have to wait a few more days for the entry of India's leading coking coal production company Bharat Coking Coal Limited into the stock market. The listing of Coal India's Maharatna subsidiary was earlier scheduled on January 16, but due to municipal and local body elections in Maharashtra, it has been postponed to January 19. The Indian stock market will remain closed on January 15 due to the local polls.

Both BSE and NSE exchanges have clarified that there will be no trading in all segments including equities, equity derivatives, commodity derivatives and electronic gold receipts on January 15. This decision has been taken in view of the elections to be held in Maharashtra, so that the voting process is not affected.

Bharat Coking Coal's Rs 1,071 crore IPO has entered the biggest and most subscribed issue of recent years. This IPO has received total bids worth more than Rs 1.1 lakh crore. The participation of investors in this issue was also at a record level. A total of 90.31 lakh applications were received, which shows that both retail and big investors have shown tremendous interest in this IPO. This IPO was subscribed a total of 143.85 times.

The BCCL IPO price band was fixed at Rs 21-23 per share, and at the higher end, the company is valued at over Rs 10,700 crore. According to the IPO papers filed with SEBI, the public issue is entirely an offer for sale (OFS) of 46.57 crore equity shares by Coal India.

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Bharat Coking Coal IPO GMP stood at Rs 14 on January 14. With the price band of Rs 23, the shares of BCCL are estimated to be listed at Rs 37, indicating a gain of 60.87 per cent, investorgain reported.