Bharat Coking Coal IPO Subscribed 147x, Bids Hit Rs 1.17 Trillion

• Bharat Coking Coal Ltd (BCCL) IPO, the first mainboard IPO of 2026, received bids worth Rs 1.17 trillion against an offer of Rs 10.71 billion.
• The IPO was subscribed nearly 147 times, with strong demand driven by prospects of coking coal from steelmakers.
• Qualified institutional buyers (QIBs) led the subscription, bidding 311 times their allocated shares; non-institutional investors subscribed 258 times and retail investors 49 times.
• BCCL is a subsidiary of state-owned Coal India, and the IPO is an offer for sale (OFS) by the parent company.
• The listing is part of the government's divestment push in the coal sector, aiming to unlock value and enhance transparency.

Why It Matters: BCCL's IPO saw overwhelming demand, highlighting strong investor confidence in India's primary market and coal sector.