Bharat Coking Coal IPO
Bharat Coking Coal Limited (BHARATCOAL) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 19 January 2026.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +63.9% (likely range +14% to +85%), day's high +83.9%, chance of a gain 92%. Actual: +95.7% at the open, +96.0% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 7,91,69,000 | 24,60,65,19,600 | 311x | |
| NII (HNI) total | 5,93,76,750 | 15,32,88,63,000 | 258x | |
| Big NII (above ₹10 lakh) | 3,95,84,500 | 10,91,12,11,200 | 276x | |
| Small NII (₹2-10 lakh) | 1,97,92,250 | 4,41,76,51,800 | 223x | |
| Retail | 13,85,45,750 | 6,83,44,98,000 | 49.3x | |
| Employees | 2,32,85,000 | 12,05,25,600 | 5.18x | |
| Shareholders | 4,65,70,000 | 4,06,51,51,800 | 87.3x | |
| Total | 34,69,46,500 | 50,95,55,58,000 | 147x |
Bids on NSE and BSE together, as published by NSE, as of 13 Jan 2026, 07:00 PM. Shares offered exclude the anchor portion. 17% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Bharat Coking Coal's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Unimech Aerospace and ManufacturingDec 2024 | 318x | 264x | 56.7x | 175x | ₹527 Cr | +86.0% | +89.2% |
| GNG ElectronicsJul 2025 | 266x | 228x | 46.8x | 148x | ₹479 Cr | +49.8% | +51.6% |
| Standard Glass Lining TechnologyJan 2025 | 332x | 269x | 65.0x | 183x | ₹413 Cr | +22.9% | +30.0% |
| Corona RemediesDec 2025 | 279x | 209x | 28.7x | 137x | ₹691 Cr | +38.4% | +41.0% |
| Regaal ResourcesAug 2025 | 191x | 357x | 57.7x | 160x | ₹306 Cr | +38.2% | +42.8% |
| Mukka ProteinsMar 2024 | 189x | 250x | 58.5x | 137x | ₹224 Cr | +42.9% | +50.9% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| IDBI Capital Markets and Securities | 4 | +52.8% | 75% |
| ICICI Securities | 109 | +21.3% | 69% |
Offer documents (NSE)
Frequently asked
What is the Bharat Coking Coal IPO price band and lot size? ₹21.0–23.0 per share, with a lot of 600 shares, so the smallest retail bid is ₹13,800.
How many times has it been subscribed? 147x overall: QIB 311x, NII 258x, retail 49.3x, employees 5.18x.
How did it list? It opened at ₹45.0, +95.7% against the issue price of ₹23.0, and closed its first day +76.4%.
