Bharat Coking Coal IPO Subscribed 30x on Day 2; GMP at 47%

• Bharat Coking Coal IPO subscribed 30.13 times by Day 2, receiving bids for 104.54 crore shares against 34.69 crore offered.
• Retail investors subscribed 25.18 times, non-institutional investors 84.40 times, and QIBs 64% of their quotas.
• The IPO is an offer-for-sale by Coal India, divesting a 10% stake to raise ₹1,071 crore at ₹21-₹23 per share.
• Shares are trading at a 47% premium in the grey market; listing expected on January 16.
• Bharat Coking Coal, India's largest coking coal producer, aims to increase output from 40.5 MT to 56 MT by 2030.

Why It Matters: Bharat Coking Coal IPO sees strong demand, oversubscribed 30 times, with a 47% grey market premium.