Bharat Coking Coal Limited operates in the coal mining sector, with a focus on the production of coking coal, non-coking coal, and washed coal used primarily by steel and power industries. Incorporated in 1972, the company functions as a wholly owned subsidiary of Coal India Limited and carries out mining operations across the Jharia coalfields in Jharkhand and the Raniganj coalfields in West Bengal. Its activities include opencast and underground mining, coal beneficiation through washeries, and operational models such as Mine Developer and Operator (MDO) and Washeries Developer and Operator (WDO).
Applicants interested in participating in the IPO can apply through an authorised trading platform or by using the ASBA facility provided by their banking institution. The application process generally involves logging into the trading or banking interface, navigating to the IPO section, selecting the public issue, entering the required lot quantity within the specified price band, and completing payment authorisation through UPI or bank mandate. Once submitted, the application proceeds through exchange-regulated verification and allotment procedures.
For more details, visit the Bharat Coking Coal IPO page.
Bharat Coking Coal IPO Details and Objectives
Details
| Information
|
IPO Date
| January 9, 2026 to January 13, 2026
|
Issue Size
| 46,57,00,000 shares (agg. up to ₹ 1,071.11 Cr)
|
Price Band
| ₹21 to ₹23 per share
|
Lot Size
| 600 shares
|
Listing At
| BSE, NSE
|
Purpose of the IPO
Achieve the benefits of listing the Equity Shares on the Stock Exchanges
Carry out the Offer for Sale of up to 46,57,00,000 Equity Shares
Timeline of Bharat Coking Coal IPO
Event
| Date
|
|---|
IPO Open Date
| Fri, Jan 9, 2026
|
IPO Close Date
| Tue, Jan 13, 2026
|
Tentative Allotment
| Wed, Jan 14, 2026
|
Initiation of Refunds
| Thu, Jan 15, 2026
|
Credit of Shares to Demat
| Thu, Jan 15, 2026
|
Tentative Listing Date
| Fri, Jan 16, 2026
|
Pricing & Lot Size of Bharat Coking Coal IPO
Price Band for the IPO
Minimum Lot Size and Application Details
Application
| Lots
| Shares
| Amount
|
Individual investors (Retail) (Min)
| 1
| 600
| ₹13,800
|
Individual investors (Retail) (Max)
| 14
| 8,400
| ₹1,93,200
|
S-HNI (Min)
| 15
| 9,000
| ₹2,07,000
|
S-HNI (Max)
| 72
| 43,200
| ₹9,93,600
|
B-HNI (Min)
| 73
| 43,800
| ₹10,07,400
|
Bharat Coking Coal IPO Application Process
The Bharat Coking Coal IPO application process can be completed online through your trading platform. Below is a step-by-step guide to applying for the IPO:
Step 1: Login to Your Trading Platform
Access your trading account using the broker's app or website.
Step 2: Navigate to the IPO Section
Go to the IPO section to view active IPO listings.
Step 3: Select the Open IPO and Click Apply
Locate Bharat Coking Coal IPO in the list of available IPOs and click the ‘Apply’ button.
Step 4: Enter the Quantity of Shares You Wish to Apply For
Specify the number of shares (lot size: 600 shares) within the price band of ₹21 to ₹23 per share.
Step 5: Provide Your UPI ID
Enter your UPI ID for payment authorisation and ensure sufficient funds in your bank account.
Step 6: Confirm the Application
Review your application details and confirm the UPI mandate before 5 PM on the last application day.
Step 7: Complete the Process and Wait for Allotment
Submit the application and monitor the allotment status to check if shares have been allocated to you.
Shares Offered in Bharat Coking Coal IPO
The equity shares offered in the Bharat Coking Coal IPO are allocated across different investor categories in line with regulatory requirements. The reservation structure specifies the minimum and maximum proportion of the offer available to each category, ensuring defined participation from qualified institutional buyers, non-institutional investors, and retail individual investors.
Investor Category
| Shares Offered
|
QIB Shares Offered
| Not more than 50.00% of the Offer
|
Retail Shares Offered
| Not less than 35.00% of the Offer
|
NII Shares Offered
| Not less than 15.00% of the Offer
|
Financial Health and Performance
Key Financial Metrics
Total Assets: Increased from ₹13,312.86 crore as of 31 March 2023 to ₹18,711.13 crore as of 30 September 2025.
Total Income: Recorded at ₹6,311.51 crore for the period ended 30 September 2025, compared with ₹13,018.57 crore in FY23.
Profit After Tax (PAT): Stood at ₹123.88 crore for the period ended 30 September 2025, as against ₹664.78 crore in FY23.
Net Worth: Reported at ₹5,830.89 crore as of 30 September 2025, compared with ₹3,791.01 crore as of 31 March 2023.
Reserves and Surplus: Recorded at ₹1,006.52 crore as of 30 September 2025, compared with a negative balance of ₹853.10 crore as of 31 March 2023.
EBITDA: Stood at ₹459.93 crore for the period ended 30 September 2025, in comparison to ₹891.31 crore in FY23.
Recent Performance and Growth Prospects
The company’s asset base has increased over the period under review, indicating an expansion in the scale of operations and the underlying asset structure.
Income levels have shown variation between the earlier and latest periods, reflecting changes in operational activity and revenue generation during the respective financial timelines.
Profit after tax figures have fluctuated over the reviewed period, highlighting shifts in cost structures, operating conditions, and overall financial outcomes.
Net worth has moved upward between the earliest and most recent reporting dates, suggesting an improvement in the company’s capital base over time.
Reserves and surplus have transitioned from a negative position to a positive balance, indicating changes in retained earnings and internal financial accumulation.
Operating performance, as reflected by EBITDA, has varied across periods, pointing to movements in operating efficiency and earnings before non-operating adjustments.
Investment Risks and Opportunities
Potential Risks of Investing in the IPO
The company operates in the coal mining sector, where performance is influenced by regulatory policies, environmental clearances, and compliance requirements that can affect operational timelines and costs.
Demand for coking coal is closely linked to steel production levels, and variations in steel sector activity may impact offtake and revenue patterns.
Mining operations involve risks related to safety, land acquisition, logistics, and quality constraints of coal reserves, which may influence production efficiency and utilisation.
Opportunities and Industry Linkages
The company operates within the domestic coking coal segment, which supports steel manufacturing and infrastructure-related industries in India.
Long-term trends in steel capacity expansion and infrastructure development may influence demand for coking coal over time.
Ongoing focus on beneficiation, mine development models, and operational efficiency provides scope for maintaining production continuity within the existing regulatory framework.
Key Performance Indicator (KPI)
KPI
| Values
|
ROCE
| 30.13%
|
RoNW
| 20.83%
|
PAT Margin
| 8.61%
|
EBITDA Margin
| 16.36%
|
Price to Book Value
| 1.63
|
Bharat Coking Coal IPO Registrar & Lead Managers
Registrar
| Lead Manager(s)
|
|---|
Kfin Technologies Ltd.
| IDBI Capital Markets Services Ltd.
|
Company Address of Bharat Coking Coal Limited
Bharat Coking Coal Ltd. Koyla Bhawan, Koyla Nagar Dhanbad, Jharkhand, 826005
Phone: 0326-2230190
Email: cos.bccl@coalindia.in
Website: https://bcclweb.in/
Conclusion
Bharat Coking Coal Limited operates in the coking coal segment, supplying coal used primarily in steel production and related industrial activities. Its operations include opencast and underground mining, coal washing, and associated monetisation models within a regulated framework. The IPO details set out the structure of the offer, reservation across investor categories, and the intended use of proceeds in line with disclosures, alongside the defined timelines and application mechanics.
Applicants may submit bids through authorised trading platforms or by using the ASBA facility offered by their banking institutions. The application process generally involves selecting the issue, entering bid details, completing payment authorisation through UPI or bank mandate, and submitting the application within the specified period. Allotment and final allocation are carried out through established exchange-led procedures.
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