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BHARATCOALEQ / NSE, BSEListed
Bharat Coking Coal

Bharat Coking Coal Limited, incorporated in 1972, is engaged in the production of coking coal, non-coking coal, and washed coal, and operates as a wholly owned subsidiary of Coal India Limited. As of March 31, 2025, the company operates 32 mines comprising 25 opencast, 3 underground, and 4 mixed mines, with its primary focus on coking coal to serve the steel and power industries. As of April 1, 2024, BCCL holds an estimated coking coal reserve of around 7,910 million tonnes and accounted for 58.50% of India’s total domestic coking coal production in Fiscal 2025. The company’s operations are spread across Jharia in Jharkhand and Raniganj in West Bengal, covering a total leasehold area of 288.31 square kilometers. Its activities include opencast and underground mining, coal washeries, monetisation of idle washeries through the Washery Developer and Operator model, revival of discontinued underground mines through the Mine Developer and Operator model, and monetisation of solar power projects through self-consumption and grid injection. Coal production increased from 30.51 million tonnes in Fiscal 2022 to 40.50 million tonnes in Fiscal 2025, while in Fiscal 2024 the company produced 39.11 million tonnes of coking coal and 1.99 million tonnes of non-coking coal.

₹21 - ₹23146.87x sub
Listed Price₹45.21
Listing Gain+96.57%

IPO Schedule & Timeline

Bookbuilding IPO
Open09 Jan 2026
Close13 Jan 2026
Allotment14 Jan 2026
Listing19 Jan 2026

Quota Reservation & Application Lots

Quota Reservation (% Shares)

Anchor11,87,53,500 shares
25.5%
QIB7,91,69,000 shares
17%
HNI5,93,76,750 shares
12.75%
Retail13,85,45,750 shares
29.75%
Employee2,32,85,000 shares
5%
Shareholder4,65,70,000 shares
10%

Minimum Application Lots

Retail1 Lot (600 shares)
₹13,800
sHNI15 Lots (9,000 shares)
₹2,07,000
bHNI73 Lots (43,800 shares)
₹10,07,400

Company Promoters

President of IndiaActing Through the Ministry of CoalGovernment of IndiaCoal India Limited

Company Background

Bharat Coking Coal Limited, incorporated in 1972, is engaged in the production of coking coal, non-coking coal, and washed coal, and operates as a wholly owned subsidiary of Coal India Limited. As of March 31, 2025, the company operates 32 mines comprising 25 opencast, 3 underground, and 4 mixed mines, with its primary focus on coking coal to serve the steel...

Financial Performance

Figures in ₹ Crores
Metric Breakdown

Revenue

Latest (Sep-25)₹6311.5 Cr
Growth-51.5%
Revenue Trend (₹ in Crores)
0.05.6k11.2k16.9kMar-23Mar-24Mar-25Sep-25
PeriodRev (Cr)PAT (Cr)AssetsDebt
Sep-256,311.5123.818,711.131,559.13
Mar-2514,401.61,240.117,283.480
Mar-2414,652.51,564.414,727.70
Mar-2313,018.5664.713,312.80

Key Performance Indicators (KPIs)

PeriodEPSROEROCEP/E (Pre)P/E (Post)
Sep-251.610%4.28%00
Mar-252.660%20.83%8.640
Mar-243.360%34.21%00
Mar-231.430%19.22%00

Peer Comparison & Valuation

Financial Performance

Bharat Coking Coal Limited

NAV/Share (₹)14.07
RONW(%)20.83
EPS (Basic) (₹)2.66

Alpha Metallurgical Resources, Inc

NAV/Share (₹)11182.10
RONW(%)11.48
EPS (Basic) (₹)1233.78

Warrior Met Coal, Inc

NAV/Share (₹)3423.71
RONW(%)12.82
EPS (Basic) (₹)410.12

Valuation

Bharat Coking Coal Limited

P/E(X)0
CMP* (₹)0
Face value (₹)0

Alpha Metallurgical Resources, Inc

P/E(X)14.87
CMP* (₹)18177.77
Face value (₹)0

Warrior Met Coal, Inc

P/E(X)19.44
CMP* (₹)7974.08
Face value (₹)0

Broker & Analyst Reviews

Review Not Available

Institutional broker reviews and analyst reports have not been released for this issue yet. Reviews are typically published 2 to 3 days prior to the issue opening date.

IPO Allotment & Registrar Status

Official Registrar: Kfin Technologies Limited

Allotment Finalized
Allotment Date
14 Jan 2026
Official Status
Out / Finalized
Registrar
Kfin Technologies Limited
Listing Date
19 Jan 2026

Official Allotment Verification Links

Official Registrar Portal
Kfin Technologies Limited

Direct allotment verification on the official registrar portal appointed for Bharat Coking Coal. Check with PAN or Application No.

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Stock Exchange Portal
BSE India Investor Portal

Official Bombay Stock Exchange investor verification channel using Issue Name and PAN Number.

Check on BSE India

Allotment Schedule & Milestones

IST
1. Allotment Finalization14 Jan 2026Basis of allotment declared
2. Refund Initiation1 day post allotmentUPI / ASBA mandate unblocked
3. Demat CreditPrior to listingShares credited to CDSL/NSDL
4. Listing Date19 Jan 2026Trading commences on exchange

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3Enter Details

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Prospectus & Official Filings

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About Bharat Coking Coal IPO

Complete issue overview for Bharat Coking Coal (BHARATCOAL) IPO. The issue features an equity share price band of ₹21 – ₹23 per share with a minimum retail lot size of 600 Shares (minimum application amount of ₹13,800). Explore live market tracking on our GMP Tracker, compare against All IPO GMP Today, or view category bidding on the Subscription Page. Verify official allotment via IPO Registrars or review participating investment bankers in our Lead Managers Directory.

Frequently Asked Questions