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Bharat Coking Coal Ltd., the subsidiary of Coal India Ltd
. fell just short of becoming the most subscribed IPO of a state-run company on record after bidding closed on the final day on Tuesday, January 13.
As per the final tally on NSE, the ₹1,071 crore issue has been subscribed 146.8 times compared to the total number of shares on offer. Investors placed bids for 5,093 crore shares, compared to the 34.69 crore shares on offer during the three-day process.
The title of the most subscribed PSU IPO is currently held by Mazagon Dock Shipbuilders, whose ₹444 crore issue in 2020 was subscribed 157.41 times the total number of shares on offer.
Subscription for BCCL was led by institutional investors, whose portion was subscribed 310.8 times the total number of shares on offer. Institutional investors placed bids for 2,460 crore shares, compared to 7.91 crore shares on offer for them.
Non-institutional investors were not too far behind, as they placed bids for 1,532 crore shares, compared to the 5.93 crore shares on offer for them, thereby taking the total subscription to 258 times.
Retail investors also poured funds into the BCCL IPO, with the portion reserved for them having subscription of 49.2 times. 35% or 13.85 crore shares in the IPO were reserved for retail investors, who placed bids for 682.3 crore shares.
Eligible shareholders of Coal India placed bids for 406.7 crore shares in comparison to the 4.65 crore shares on offer for them. Those who had shares of Coal India in their portfolio on or before January 1, 2026, were eligible to place bids under the shareholder quota.
Currently, Bharat Coking Coal's shares are trading at a premium of ₹10.7 in the unlisted market, including a GMP premium of 48% compared to the issue price. However, these reports are speculative and the actual listing price may differ compared to the GMP rates.
Allotment of shares will take place on Wednesday, January 14.
As per the final tally on NSE, the ₹1,071 crore issue has been subscribed 146.8 times compared to the total number of shares on offer. Investors placed bids for 5,093 crore shares, compared to the 34.69 crore shares on offer during the three-day process.
The title of the most subscribed PSU IPO is currently held by Mazagon Dock Shipbuilders, whose ₹444 crore issue in 2020 was subscribed 157.41 times the total number of shares on offer.
Subscription for BCCL was led by institutional investors, whose portion was subscribed 310.8 times the total number of shares on offer. Institutional investors placed bids for 2,460 crore shares, compared to 7.91 crore shares on offer for them.
Non-institutional investors were not too far behind, as they placed bids for 1,532 crore shares, compared to the 5.93 crore shares on offer for them, thereby taking the total subscription to 258 times.
Retail investors also poured funds into the BCCL IPO, with the portion reserved for them having subscription of 49.2 times. 35% or 13.85 crore shares in the IPO were reserved for retail investors, who placed bids for 682.3 crore shares.
Eligible shareholders of Coal India placed bids for 406.7 crore shares in comparison to the 4.65 crore shares on offer for them. Those who had shares of Coal India in their portfolio on or before January 1, 2026, were eligible to place bids under the shareholder quota.
Currently, Bharat Coking Coal's shares are trading at a premium of ₹10.7 in the unlisted market, including a GMP premium of 48% compared to the issue price. However, these reports are speculative and the actual listing price may differ compared to the GMP rates.
Allotment of shares will take place on Wednesday, January 14.
