Bharat Coking Coal Limited (BCCL) IPO

About the company

Bharat Coking Coal Limited (BCCL) produces various grades of coking coal, non-coking coal and washed coals, which has application primarily in the steel and power industries. BCCL is a wholly owned subsidiary of Coal India Limited and conferred with Mini Ratna status in 2014. BCCL is one of the largest domestic producer of coking coal, contributing 58.50% to India's total coking coal production in FY25. The company operates in the Jharia coalfields of Jharkhand and the Raniganj coalfields of West Bengal, two of the richest coal-bearing areas in the country. The operational portfolio of BCCL includes opencast and underground mining projects, coal washeries, monetisation of old and idle coal washeries through the Washery Developer and Operator (WDO) route and restoration of operations in discontinued underground mines through the Mine Developer and Operator (MDO) model. The company’s estimated coking coal reserves is around 7,910 MMT, as on April 1, 2024, making it one of the biggest contributors to coking coal reserves in India. As of September 30, 2025, the company runs 34 mines, including 26 opencast mines, 4 underground mines, and 4 mixed mines. Opencast mining is the main extraction method, contributing 97.19% of total coal production in FY25. Underground mining made up about 2.81%, indicating a focus on volume and cost efficiency. The company operates five washeries and is developing additional washeries with an aggregate capacity of 7.00 million tonnes a year to improve coal quality and reduce ash content. In return, these plants help in supplying washed coking coal to steel manufacturers and facilitating domestic substitution of imported coking coal. In FY25, the proportion of washed coking coal to total dispatches was 30.70%, whereas washed power coal made up 51.89%. The steel and power industries are the main sources of the company's coal offtake. In FY25, the power sector, including captive power, made up 77.61% of revenue, while steel industry accounted for 2.21% of total coal sales and fertiliser companies contributed 1.03%. Additionally, 14.94% of the total sales were used internally by company-owned washeries, demonstrating the operational integration of beneficiation and mining operations. Some of its key clients include Damodar Valley Corporation, Uttar Pradesh Rajya Vidyut Utpadan Nigam, SAIL, NTPC and many others. As of September 30, 2025, it has commissioned 26.97 MW of solar power, which includes 6.97 MWp of rooftop solar power and 20.00 MW of ground-based solar power. In addition to these, it also intends to execute coal bed methane projects in the Jharia sector, which represents its attempt to harness its ancillary resources in a manner that aligns with the long-term goals of a net-zero target by 2070 in India. The demand for Indian coking coal in FY25 stood at 67 MMT, which is expected to rise to 138 MMT by FY35, driven by the expanding Indian steel industry. BCCL is well-positioned to take advantage of this demand trend. It is less susceptible to resource depletion because it is the largest coking coal producer in India and has a robust reserve base. Its mines are strategically located in the Jharia and Raniganj coalfields, which are rich in high-quality coking coal, thus supporting effective extraction and a reliable supply. The company is focused on utilising its resources effectively by undertaking technological advancements, including the procurement of high-capacity heavy earth moving machinery (HEMM). It also aims to transform discontinued mines into profitable ventures and implement energy conservation methods. Now, Bharat Coking Coal Ltd is launching its initial public offering (IPO), which consists of an offer for sale of ₹1,071 crore. Its shares will be listed on the NSE and BSE. ### **How to apply for the Bharat Coking Coal IPO?** If you are interested in this investment opportunity but unsure how to apply for the Bharat Coking Coal IPO, here are the steps that you need to follow. When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Bharat Coking Coal IPO on Upstox: - Log in to your Upstox account, using your six-digit PIN - After logging in, click on ‘Discover’ - On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the ‘Bharat Coking Coal IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Apply’ - Accept the mandate on your UPI app ### **How to check Bharat Coking Coal IPO Allotment Status?** When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally completed on the next working day after an IPO closes. Here’s a step-by-step guide on how to check the Bharat Coking Coal IPO allotment status: - Login to your Upstox account, using your six-digit PIN - After logging in, click on ‘Discover’ - On the ‘Discover’ page, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, you will find the ‘View all’ option - Once you click on ‘View all’, you will be directed to the ‘IPO’ tab - In the ‘IPO’ tab, click on ‘My applications’ - In ‘My applications’, under the History section, your Bharat Coking Coal IPO allotment status will be mentioned ### **How to pre-apply for the Bharat Coking Coal IPO?** You can pre-apply for the Bharat Coking Coal IPO on Upstox. The pre-application for this IPO, which means the pre-apply open date, usually begins a day before the IPO opens for subscription. Follow these steps to pre-apply for the IPO: - Login to your Upstox account, using your six-digit PIN - After successfully logging in, click on ‘Discover’ - On the Discover tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the ‘Bharat Coking Coal IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Pre-Apply’ - Accept the mandate on your UPI app

GMP trend (Grey Market Premium by date)

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   09 Jan 2026

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   13 Jan 2026

   Last day to place your bid

3. Basis of Allotment

   Completed
   14 Jan 2026

   Share allotment finalised

4. Refund Initiation

   Completed
   15 Jan 2026

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   15 Jan 2026

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   19 Jan 2026

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.