Bharat Coking Coal IPO Subscribed 12x on Day 2, GMP Jumps; Experts Advise Investment

• Bharat Coking Coal Limited (BCCL) IPO subscribed over 12 times on its second day of bidding.
• Non-Institutional Investors (NIIs) subscribed over 29 times, Retail investors 12 times, and QIBs 33%.
• Most brokerages, including Anand Rathi, recommend 'Subscribe' for listing gains due to attractive valuation.
• Deven Choksey advises long-term investment, predicting 1.5-2x returns post-stabilization, citing BCCL's debt-free status and coking coal demand.
• Grey Market Premium (GMP) for BCCL shares has risen to 46.52%, indicating a potential listing around ₹33.7.

Why It Matters: BCCL IPO sees strong investor interest and rising GMP, with experts recommending both short and long-term investment.