New Delhi The initial public offering (IPO) of Bharat Coking Coal Ltd (BCCL), a wholly-owned subsidiary of Coal India Ltd, is generating significant investor excitement as it prepares to open next week. The IPO is set to launch for subscription on January 9, 2026, and will remain open until January 13, marking it as the first mainboard public issue of the year.
According to grey market trackers, BCCL’s IPO shares are trading at a substantial premium in the unregulated market, with the GMP currently around ₹12.6 – ₹14 per share. This translates to an implied listing gain of roughly 55 – 57 % above the IPO’s upper price band of ₹23 per share.
The strong GMP reflects robust market optimism and expectations of a solid debut on the stock exchanges when shares start trading after listing. Some market indicators earlier showed even higher unofficial premiums, with grey market activity suggesting peaks of around 70 % at times before easing slightly.
BCCL IPO Details
• Price Band: ₹21 – ₹23 per share.
• Issue Size: Approximately ₹1,071 crore through an offer-for-sale (OFS) by Coal India.
• Subscription Period: January 9 – 13, 2026.
• Allotment & Listing: Basis of allotment expected around January 14, with listing anticipated by January 16 on the BSE and NSE.
• Lot Size: 600 shares per application.
As a major coking coal producer essential to India’s steel and industrial value chain, BCCL’s IPO is being closely watched by investors and analysts alike. While the elevated GMP points to strong demand ahead of the issue, experts caution that grey market prices are unofficial indicators and actual listing performance may vary based on subscription levels and broader market conditions.