Bharat Coking Coal IPO to List in Next Few Hours; GMP at ~59% Ahead of Market Debut

Mumbai, January 19, 2026: The equity shares of Bharat Coking Coal Limited are set to list in the next few hours today on the NSE and BSE, marking the culmination of one of the most closely tracked and heavily subscribed IPOs of the year.

The listing follows the completion of the allotment, refund initiation, and demat credit process, with investors now watching the opening trade as the stock makes its public market debut.

IPO Recap: Heavy Oversubscription Across Categories​

The Bharat Coking Coal IPO, priced at ₹21–₹23 per share, closed with an overall subscription of around 143.85 times, reflecting extraordinary demand across investor segments:

• Qualified Institutional Buyers (QIBs) led the final-day surge
• Non-Institutional Investors (NIIs) and high net-worth individuals showed aggressive participation
• Retail Individual Investors (RIIs) and shareholder reservation categories also saw deep oversubscription

Given the scale of demand, allotment ratios were limited across most categories, with refunds and demat credits processed as per the post-issue schedule.

LIC Anchor Investment​

Ahead of the IPO opening, Life Insurance Corporation of India emerged as the single largest anchor investor in the issue. LIC invested ₹78.00 crore, acquiring 3,39,13,200 equity shares at the upper end of the price band of ₹23 per share.

The anchor allocation was finalised on January 8, 2026, accounting for 28.56 percent of the total anchor portion, providing strong institutional backing ahead of public bidding.

Grey Market Premium (GMP) Update Ahead of Listing​

In the unofficial grey market, the grey market premium (GMP) for the Bharat Coking Coal IPO has remained firm on listing day morning.

As of January 19, 2026 (around 7:55 AM IST), GMP was reported at ₹13.5 per share, unchanged from the previous session. Against the IPO price of ₹23, this implies an indicative premium of about 58–59 percent, pointing to an informal estimated listing price of around ₹36.5 per share.

Recent GMP Trend Snapshot​

• Jan 19 (Listing Day): GMP ₹13.5 | ~58.7% premium
• Jan 18: GMP ₹13.5 | ~58.7% premium
• Jan 17: GMP ₹12.4 | ~53.9% premium
• Jan 16: GMP ₹13.2 | ~57.4% premium
• Jan 15: GMP ₹14.0 | ~60.9% premium

While GMP has moderated slightly from mid-week highs, it remains elevated going into the opening bell.
Note
The GMP prices shown above are only news related to the grey market. The publisher does not trade or deal in the grey market or sub-to-sub (sub2) rates, nor does it recommend trading in the grey market. Grey market prices are unofficial, unregulated, and subject to change.

About Bharat Coking Coal Limited​

Bharat Coking Coal Limited is a Government of India enterprise and a subsidiary of Coal India Limited. The company is engaged in the mining and supply of coking coal and non-coking coal, with operations primarily concentrated in the Jharia coalfields of Jharkhand and the Raniganj coalfields of West Bengal. It plays a strategic role in supplying raw material to India’s steel and core industrial sectors.