Coal India Eyes Over Rs 600 Crore Gain From BCCL IPO Stake Sale

State owned miner Coal India Ltd is set to generate a profit of more than Rs 600 crore by divesting a 10 per cent stake in its subsidiary Bharat Coking Coal Ltd through the latter’s upcoming initial public offering.

Pricing And Profit Outlook​

According to the offer document, Coal India’s weighted average acquisition cost for BCCL shares stands at Rs 10 per share. With the IPO price band fixed at Rs 21 to Rs 23 per share, the miner is expected to earn a profit of Rs 12 to Rs 13 per share on the portion being sold.

At the upper end of the price band, Coal India is likely to receive around Rs 1,071 crore from the IPO. After accounting for the acquisition cost of about Rs 466 crore, the net gain works out to nearly Rs 605 crore, translating into a return of roughly 130 per cent on the original investment.

First Mainboard IPO Of 2026​

The BCCL listing marks the first mainboard IPO of 2026 and is also the first step in Coal India’s planned divestment of its major subsidiaries. The proposed listing is aimed at unlocking value in the subsidiary.

Coal India’s board has already approved IPO plans for other key arms, including Mahanadi Coalfields Ltd and South Eastern Coalfields Ltd, as part of its broader monetisation strategy.

IPO Timeline And Structure​

The IPO will open for subscription on January 9 and close on January 13. Shares are scheduled to list on the BSE and the NSE on January 16, 2026.

The issue is a 100 per cent offer for sale, which means BCCL will not receive any proceeds from the IPO. The entire amount raised will accrue to Coal India.

Market Buzz And Stock Performance​

In the unofficial grey market, BCCL shares are reported to be trading at a premium of Rs 13.5 to Rs 14 over the likely issue price.

Market expectations around subsidiary listings have supported Coal India’s stock in recent sessions, with the share price rising 6.29 per cent over the last five days to Rs 426 per share.