Coal India arm Bharat Coking Coal IPO GMP jumps to nearly 70% ahead of this week’s launch; check price band

Bharat Coking Coal IPO GMP rises as firm sets price band.

Bharat Coking Coal IPO GMP advanced to nearly 70 perent on Monday as the arm of Coal India set the price band for the Rs 1,071-crore issue on Monday.

According to platforms tracking the grey market activities, the shares of Bharat Coking Coal are commanding a GMP of up to 70 percent in the unregulated market. Investorgain quoted a GMP of Rs 16 for the shares of the company, indicating a listing gain of 69.57 percent. Meanwhile, IPO Watch also quoted a GMP of up to 70 percent.

Bharat Coking Coal Ltd (BCCL), fixed a price band of Rs 21 to Rs 23 per share for its upcoming initial public offering (IPO). At the higher end, the company is valued at over Rs 10,700 crore.

The company's IPO will open on January 9, marking the first public issue of 2026.

The issue will close on January 13, while anchor investor bidding is scheduled for January 8, according to its statement.

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According to the red herring prospectus (RHP), the maiden public issue -- entirely an offer for sale (OFS) of 46.57 crore equity shares by Coal India-- is worth Rs 1,071.11 crore at the higher end of the price band.

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.

BCCL will make its stock market debut on January 16.

The company said that half of the issue size has been reserved for qualified institutional buyers, 35 per cent for non-institutional investors and the remaining 15 per cent for retail investors.

Last year, Central Mine Planning and Design Institute Ltd (CMPDIL), another wholly-owned arm of Coal India, had also filed its draft papers with Sebi for an IPO via the OFS route.

While BCCL is a coal-producing entity, CMPDIL serves as Coal India's technical and planning arm.

BBCL was the largest coking coal producer in India in fiscal 2025 in terms of coking coal production, according to a Crisil report.

Its 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.

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