Bharat Coking Coal IPO Subscribed 8x on Day 1, Driven by NII Demand

• Bharat Coking Coal's IPO was subscribed 8 times on its first day of share sale.
• Strong demand from the non-institutional investor (NII) segment fueled the oversubscription.
• The IPO is priced in the Rs 21-23 band and closes on January 13.
• Brokerages have largely recommended the IPO for listing gains due to reasonable valuations.
• Shareholder portion subscribed 4.30x, RII 4.46x, NII 5.28x, Employee 0.42x, QIB 0.02x.

Why It Matters: Bharat Coking Coal IPO sees massive oversubscription on Day 1, indicating strong investor confidence.