Bharat Coking Coal IPO GMP Soars: Should You Subscribe to India's First 2026 Public Issue?

• Bharat Coking Coal IPO's Grey Market Premium (GMP) has surged by 50-53% ahead of its opening on Friday, indicating strong listing gain expectations.
• The IPO, the first of 2026, opens January 9 and closes January 13, with anchor investor bidding on January 8.
• SBI Securities recommends 'Subscribe', citing BCCL as India's largest coking coal producer with vast reserves and CBM prospects.
• Risks highlighted include import parity, contractor issues, customer concentration, and reliance on Coal India support.
• 35% of the issue is reserved for retail investors, and 10% for eligible Coal India shareholders. Allotment on Jan 14, listing on Jan 16.

Why It Matters: Bharat Coking Coal IPO shows strong GMP; analysts recommend 'Subscribe' despite identified risks.