BCCL IPO Day-wise Subscription Status

14, January 2026. By -Kaushik

The IPO witnessed a massive surge in interest, especially on the final day, with the total bid value crossing ₹1.17 lakh crore against an issue size of just ₹1,071 crore

ipo subscription

Category Day 1 (Jan 9) Day 2 (Jan 12) Day 3 (Jan 13)
QIB (Excl. Anchor) 0.30x 1.44x 310.81x
NII (HNI) 16.45x 96.68x 258.02x
Retail Investors 9.45x 27.28x 49.37x
Shareholders 10.95x 44.27x 87.20x
Employee 0.85x 2.66x 5.17x
Total Subscription 8.18x 33.89x 146.84x

BCCL IPO: Key Details at a Glance
Crore (Entirely an Offer for Sale by Coal India).
​Price Band: ₹21 to ₹23 per equity share.
​Lot Size: 600 Shares (Minimum investment of ₹13,800).
​Face Value: ₹10 per share.
​Listing Exchanges: BSE and NSE.
​Registrar: KFin Technologies Limited.
​Important Dates (Timeline)
​IPO Open Date: January 9, 2026
​IPO Close Date: January 13, 2026
​Basis of Allotment: January 14, 2026
​Refund Initiation: January 15, 2026
​Credit of Shares: January 15, 2026
​Listing Date: January 16, 2026
​Main Highlights for Investors
​1. Strategic Monopoly in Coking Coal
​BCCL is India’s premier producer of coking coal, a critical raw material for the steel industry. Operating 34 mines across Jharkhand and West Bengal, it accounts for nearly 58.5% of domestic coking coal production. As India aims for a 300 MT steel capacity by 2030, BCCL’s strategic importance is unparalleled.
​2. Record-Breaking Demand
​The IPO received over 90.3 lakh applications, the highest for any PSU IPO in recent history. The Qualified Institutional Buyers (QIB) segment was oversubscribed by a staggering 310 times, signaling massive confidence from big-ticket investors and mutual funds.
​3. Attractive Valuation
​At the upper price band of ₹23, the company is valued at a market cap of approximately ₹10,711 crore. Analysts noted that the pricing (roughly 6.4x EV/EBITDA) was conservative, leaving enough “money on the table” for retail investors, which explains the high subscription.
​4. Strong Grey Market Premium (GMP)
​As of January 14, 2026, the GMP is hovering around ₹13.50, which is nearly 58-60% above the issue price. This indicates a projected listing price of approximately ₹36.50, promising healthy listing gains for lucky allottees.
​5. Financial Performance
​For FY25, BCCL reported a total income of ₹14,401 crore with a Profit After Tax (PAT) of ₹1,240 crore. Despite being a mining company with operational risks, its consistent profitability and status as a “Miniratna” make it a stable portfolio candidate.

Disclaimer :

This blog does not provide financial, investment, or trading advice. All content is for educational and informational purposes only. Please consult a certified financial advisor before making any investment decisions. The author will not be responsible for any financial losses incurred.