Bharat Coking Coal IPO 2026 – Complete IPO Review, Dates, Price Band, Financials, Risks & Subscription Guide
The Bharat Coking Coal IPO is one of the most anticipated public issues in the Indian coal and mining sector. Bharat Coking Coal Limited (BCCL), a wholly-owned subsidiary of Coal India Limited (CIL), is coming up with its Initial Public Offering (IPO) in January 2026. Given its strong parentage, strategic importance, and dominant position in the coking coal segment, the IPO has attracted significant attention from retail and institutional investors.
This detailed article covers everything you need to know about the Bharat Coking Coal IPO, including IPO dates, price band, financial performance, strengths, risks, FAQs, and an investment perspective.
About Bharat Coking Coal Limited
Bharat Coking Coal Limited (BCCL) is a Government of India enterprise and a 100% subsidiary of Coal India Limited (CIL). The company was incorporated in 1972 and primarily operates in the Jharkhand and West Bengal regions, particularly in the Jharia and Raniganj coalfields.
BCCL plays a critical role in India’s steel ecosystem as it is one of the largest producers of prime coking coal, a key raw material used in steel manufacturing.
Key Company Details
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Company Name: Bharat Coking Coal Limited
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Incorporation Year: 1972
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Parent Company: Coal India Limited
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Managing Director & CEO: Mr. Manoj Kumar Agarwal
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Industry: Coal Mining & Processing
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Core Focus: Coking coal production and supply
Bharat Coking Coal IPO Details
| Particulars | Details |
|---|---|
| IPO Opening Date | 09 January 2026 |
| IPO Closing Date | 13 January 2026 |
| Price Band | ₹21 – ₹23 per share |
| Lot Size | 600 shares |
| Minimum Investment | ₹12,600 |
| Issue Size | ₹10,711.10 crore |
| Face Value | ₹10 per share |
| RHP Filed | Yes |
| Tentative Allotment Date | 14 January 2026 |
| Tentative Listing Date | 16 January 2026 |
| Listing Exchanges | BSE & NSE |
Bharat Coking Coal IPO Application Details
| Category | Price Band | Apply Range | Lot Size |
|---|---|---|---|
| Retail Individual Investor | ₹21 – ₹23 | Up to ₹2 lakh | 600 |
| Employee | ₹20 – ₹22 | Up to ₹2 lakh | 600 |
| Shareholder | ₹21 – ₹23 | Up to ₹2 lakh | 600 |
| High Net-Worth Individual (HNI) | ₹21 – ₹23 | ₹2 – 5 lakh | 600 |
Eligible investors can apply under Retail, Employee, or Shareholder categories.
Bharat Coking Coal Financial Performance
(All figures in ₹ Crore)
Revenue Trend
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FY 2023: ₹12,345 Cr
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FY 2024: ₹13,861 Cr
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FY 2025: ₹13,880 Cr
Profit Trend
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FY 2023: ₹655 Cr
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FY 2024: ₹1,584 Cr
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FY 2025: ₹1,248 Cr
The company has shown stable revenue growth with strong profitability, supported by higher coking coal demand and operational efficiency.
Strengths of Bharat Coking Coal IPO
✅ Dominant Position in Coking Coal
BCCL is a market leader in coking coal mining in India and the only source of prime coking coal, which is essential for steel production.
✅ Strong Parent Company – Coal India Limited
Being a subsidiary of Coal India Limited provides financial stability, operational expertise, and long-term government support.
✅ Large Resource Base
As of March 2025, BCCL holds 7.81 billion tonnes of coking coal resources, making it a strategically important PSU.
✅ High Operational Capacity
The company has a washing capacity of over 13.65 million tonnes per annum (MTPA), improving coal quality and realization.
✅ Technological Advancements
Adoption of heavy earth-moving machinery has increased productivity and reduced raw coal production costs.
✅ Extensive Mining Portfolio
Operations include opencast mines, underground mines, washeries, and coal beneficiation facilities.
Risks & Challenges of Bharat Coking Coal IPO
⚠ Geographic Concentration Risk
Operations are largely concentrated in Jharkhand and West Bengal, making the company vulnerable to regional disruptions.
⚠ Environmental & Regulatory Risks
Coal mining is subject to strict environmental regulations, which may impact future expansions.
⚠ Customer Concentration
A significant portion of revenue comes from top 10 customers, posing dependency risks.
⚠ Vendor Dependence
High reliance on key vendors for mining services may impact operations if contracts are disrupted.
⚠ Cyclical Industry Exposure
Demand for coking coal is directly linked to the steel sector, which is cyclical in nature.
Bharat Coking Coal IPO FAQs
Q1. What is the issue size of Bharat Coking Coal IPO?
The total issue size is approximately ₹10,711.10 crore.
Q2. When will the IPO open and close?
The IPO will open on 09 January 2026 and close on 13 January 2026.
Q3. What is the price band of the IPO?
The price band is ₹21 to ₹23 per share.
Q4. What is the minimum investment required?
Retail investors need to invest a minimum of ₹12,600 (600 shares).
Q5. When will allotment and listing happen?
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Allotment Date: 14 January 2026
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Listing Date: 16 January 2026
Q6. On which exchanges will the shares be listed?
Shares will be listed on BSE and NSE.
Q7. Who is the IPO registrar?
The IPO registrar is KARVY.
Should You Invest in Bharat Coking Coal IPO?
Bharat Coking Coal IPO offers exposure to a strategic PSU, strong cash-generating business, and leadership in coking coal. Long-term investors looking for stable government-backed companies may find this IPO attractive. However, environmental regulations and sector cyclicality should be considered before investing.
Disclaimer
This article is for educational and informational purposes only. It is not investment advice. Investors should read the Red Herring Prospectus (RHP) carefully and consult their financial advisor before making any investment decision. Stock market investments are subject to market risks.
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