The initial public offering (IPO) of Coal India arm Bharat Coking Coal Ltd (BCCL) saw strong demand on the final day of bidding on Tuesday and was subscribed nearly 147 times, according to data available on the National Stock Exchange (NSE).
The heavy subscription was also reflected in the grey market, where the shares were seen trading at a premium of 43–45 percent over the issue price.
As per market tracking platforms, Investorgain quoted a grey market premium (GMP) of Rs 10.3 per share, indicating a listing gain of about 44.78 percent. IPO Watch, meanwhile, pegged the GMP at around 43 percent.
The Rs 1,071-crore IPO of Bharat Coking Coal was fully subscribed within minutes of opening for bidding on Friday. The price band for the issue was fixed at Rs 21–23 per share, valuing the company at over Rs 10,700 crore at the upper end of the band.
The issue is the first mainboard IPO of 2026.
The listing of Bharat Coking Coal is part of the government's divestment programme in the coal sector, aimed at unlocking value in Coal India's subsidiaries and improving transparency through market participation.
Meanwhile, the IPO of Amagi Media Labs was subscribed 6 percent on the first day of bidding for its Rs 1,789-crore public issue.
Grey market tracking platforms indicated that the shares of Amagi Media Labs were commanding a premium of around 5 percent. Investorgain quoted a GMP of Rs 17 per share, implying a potential listing gain of about 4.71 percent.
Amagi Media Labs, a Bengaluru-based cloud software-as-a-service (SaaS) firm that helps media companies distribute and monetise digital video content, raised about Rs 805 crore from anchor investors, including SBI Mutual Fund, ICICI Prudential Mutual Fund and HDFC Mutual Fund.
The Amagi IPO opened for public subscription on January 13 and will close on January 16. The price band for the issue has been set at Rs 343–361 per share, valuing the company at over Rs 7,800 crore at the upper end of the band.
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