Coal India's stake reduced in BCCL to 90% after blockbuster IPO; subsidiary makes 96% premium market debut Coal India Ltd on Monday announced that its
stake in Bharat Coking Coal Ltd (BCCL) has reduced from 100 per cent to 90 per cent following the subsidiary’s highly successful IPO and market listing. The State-Owned Maharatna PSU in an exchange filing on Monday said, "we wish to inform that Bharat Coking Coal Limited, pursuant to its IPO, has sold 465,700,000 Equity Shares at an issue price of Rs 23 per share which were offered for sale by the Company. Bharat Coking Coal has been listed on BSE Limited and National Stock Exchange of India Limited effective January 19, 2026." It added that, "as a result of the above, the Company’s shareholding in Bharat Coking Coal Limited stands reduced from 100 per cent to 90 per cent (i.e., from 4,657,000,000 Equity Shares to 4,191,300,000 Equity Shares) of the issued and paid-up Equity Share capital of Bharat Coking Coal Limited" BCCL, which is no longer a wholly owned arm of Coal India but continues to remain a subsidiary, sold 46.57 crore shares at an issue price of Rs 23 apiece. The stock made a stellar debut on January 19, 2026, opening with a bumper premium of over 95 per cent on both the BSE and NSE. BCCL shares opened Rs 22.21 or 96.57 per cent higher at Rs 45.21 on BSE versus the issue price of Rs 23. On the NSE, BCCL shares opened Rs 22 or 95.65 per cent higher. Notably, BCCL IPO saw an overwhelming subscription of 146.81 times, driven by strong investor demand. The portion meant for qualified institutional buyers (QIBs) attracted a whopping 310.81 times subscription. Non-institutional investors' quota fetched 258.04 times subscription, and the category for retail individual investors (RIIs) received 49.26 times subscription. The listing of BCCL is part of the government's broader divestment push in the coal sector, aimed at unlocking value in Coal India's subsidiaries and enhancing transparency through market discipline. Bharat Coking Coal or BCCL commanded a market capitalisation of Rs 21,054.30 crore at open with a free-float of Rs 1560.99 crore. Looking at BCCL's fundamentals, the company's coal production stood at 15.75 million tonnes in the six-month period ended September 30, 2025, as compared to 19.09 million tonnes in the year-ago period. The company operates a network of 34 operational mines, including 4 underground mines, 26 opencast mines, and 4 mixed mines as of September 30, 2025. BCCL's issue comes against the backdrop of a blockbuster year for the primary market. (Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
