Bharat Coking Coal IPO Day 2 LIVE: The initial public offering (IPO) of Bharat Coking Coal entered its second day of bidding on Monday, January 12, after a bumper demand on the first day, resulting in full subscription within minutes of opening.
The issue was subscribed 8.09 times on the first day of bidding on Friday.
Bharat Coking Coal IPO opened for subscription on Friday, January 10, and will close on January 13. Prior to the opening, the company raised ₹273.1 crore from anchor investors.
BCCL IPO price band has been fixed at ₹21-23 per share. The issue is entirely an offer for sale (OFS) by its promoter, Coal India, meaning no proceeds will be received by the company.
BCCL IPO GMP today
BCCL is enjoying a strong grey market premium. According to data from investorgain.com, BCCL IPO GMP today was ₹10.85, signalling a listing price of ₹33.85 apiece, which is at an over 47% premium to the offer price of ₹23.
Shares of BCCL are expected to list on BSE and NSE later this week on January 16.
Bharat Coking Coal Limited is the country’s largest producer of coking coal, contributing about 58.5 per cent of domestic coking coal output in FY25. The company is a wholly owned subsidiary of Coal India Limited and holds estimated coal reserves of nearly 7,910 million tonnes.
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