Bharat Coking Coal IPO Details
| Detail | Description |
|---|---|
| IPO Date | 9 to 13 Jan, 2026 |
| Listing Date | 19 Jul, 2026 |
| Face Value | ₹ 10 per share |
| Issue Price Band | ₹ 21 to ₹ 23 |
| Lot Size | 600 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 46,57,00,000 shares (agg. up to ₹ 1,071 Cr) |
| Employee Discount | ₹ 1.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 4,65,70,00,000 shares |
| Share Holding Post Issue | 4,65,70,00,000 shares |
About Bharat Coking Coal IPO
Bharat Coking Coal IPO is a book build issue of ₹1,071.11 cr. This IPO is entirely a fresh issue of shares that will open for subscription on January 9, 2026 and close on January 13, 2026, with the price band of ₹21 to ₹23 per share. The lot size for an application is 600 and the minimum amount of investment by an individual investor is ₹13,800 (600 shares). The IPO will list on the BSE, NSE platforms with a tentative listing datesheet fixed as Jan 16, 2026.
Company Background
Bharat Coking Coal Ltd. (BCCL) was incorporated in 1972. This company is a wholly-owned subsidiary of Coal India Ltd., specializing in coking coal, non-coking coal and washed coal production. They operate 34 mines across Jharia, Jharkhand and Raniganj, West Bengal. BCCL holds coking coal reserves of approximately 7,910 million tonnes. This company accounted for 58.5% of India’s domestic coking coal production in Fiscal 2025. The company’s operations include underground and opencast mining, coal washeries and renewable initiatives. Strategically positioned and backed by Coal India, BCCL is India’s largest coking coal producer with a consistent growth track record.
Operations and Product Range
Facility and Production
BCCL operates 34 mines across India, including underground mines, opencast mines and mixed mines. These mines are located in Jharkhand and West Bengal, over a leasehold area of 288.31 sq km. In Fiscal 2025, the company produced 40.50 million tonnes of coal, including 39.11 million tonnes of coking coal and 1.99 million tonnes of non-coking coal, supported by extensive coal washeries and mining infrastructure.
Brands and Market Presence
BCCL is India’s largest coking coal producer, catering primarily to the steel and power industries. They also have a strong presence in Jharkhand and West Bengal. The company supplies high-quality coking coal through established distribution networks. Their reputation is strengthened by Coal India Limited’s backing, enabling market leadership and consistent domestic demand fulfillment.
Revenue Channels
- • Revenue generation from sales of coking coal to the steel and power industries
- • Other income generation from non-coking coal sales and coal washeries
- • Incomes from the re-opening of underground mines, the MDO model and solar power projects
Management and Shareholding
Promoters and Shareholding
BCCL is a wholly-owned subsidiary of Coal India Ltd., which holds 100% of the company’s equity. As part of the government’s divestment strategy, a portion of this stake is being offered to public and institutional investors through the upcoming IPO, while Coal India retains majority control, ensuring strategic oversight and operational stability.
Board Members
The board members of BCCL oversee strategic, operational and financial management, with members heading functions such as technical operations, finance and personnel. They aim to ensure efficient mining operations, enhance safety standards, optimize resource utilization and strengthen corporate governance. The board also focuses on sustainable growth, technological modernization and maximizing value for stakeholders.
IPO Proceeds
- • Payment of brokerage and selling commission
- • Reduction of fees of other parties, registrar of the office and IPO documentation fees
- • Debt reduction of the company, expansion and legal process fees
- • General corporate expenses
Conclusion
Bharat Coking Coal IPO provides an opportunity for investors to invest in India’s largest coal production-growing company. This company has extensive reserves, strategic mining operations and backing from Coal India Limited. The company is well-positioned to capitalize on rising domestic demand, modernize infrastructure and deliver long-term value to both retail and institutional investors.
Bharat Coking Coal IPO Financial Information
Latest Revenue
5,659.020
₹ Crore
Profit After Tax
123.88
₹ Crore
Net Worth
5,830.89
₹ Crore
Total Borrowing
1,559.13
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2025 | 18,711.13 | 5,659.020 | 123.88 | 5,830.89 | 1,006.52 | 1,559.13 | |||
| 31 Mar 2025 | 13,802.550 | 14,401.63 | 1,240.19 | 6,551.23 | 1,805.73 | — | |||
| 31 Mar 2024 | 14,727.73 | 14,245.860 | 1,564.46 | 5,355.47 | 664.72 | — | |||
| 31 Mar 2023 | 13,312.86 | 12,624.060 | 664.78 | 3,791.01 | -853.10 | — | |||
| Amount in ₹ Crore | |||||||||
Bharat Coking Coal Key Performance Indicator
| KPI | Values |
|---|---|
| ROCE | 30.13% |
| RoNW | 20.83% |
| PAT Margin | 8.61% |
| EBITDA Margin | 16.36% |
| Price to Book Value | 1.63 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.66 | 0.53 |
| P/E (x) | 8.64 | 43.23 |
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Competitive Strengths
India’s largest coal producer with access to large reserves
Located mines for coal production in strategic areas
Subsidiary of Coal India Ltd.(CIL) with a good percentage of CIL.
PAN India expansion and great financial performance.
Download regulatory filings
Bharat Coking Coal IPO Timeline
| IPO Open Date | Fri, Jan 9, 2026 |
| IPO Close Date | Tue, Jan 13, 2026 |
| Tentative Allotment | Wed, Jan 14, 2026 |
| Initiation of Refunds | Thu, Jan 15, 2026 |
| Credit of Shares to Demat | Thu, Jan 15, 2026 |
| Tentative Listing Date | Fri, Jan 16, 2026 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | 600 | 13800 |
| Individual investors (Retail) (Max) | 14 | 8400 | 193200 |
| S-HNI (Min) | 15 | 9000 | 207000 |
| S-HNI (Max) | 72 | 43200 | 993600 |
| B-HNI (Min) | 73 | 43800 | 1007400 |