• BCCL overall subscribed 146.8o times
  • QIB 310.81 times, Non-Institutional investors – 258.02 times and retail – 49.25 times
  • IPO received a record 90.31 lakh applications
  • The issue generated a demand of close to Rs 1.17 lakh crore

The Initial Public Offering of Bharat Coking Coal Limited was subscribed a massive 146.80 times on the final day of bidding.

The issue received bids of 50,93,16,75,600 shares against the offered 34,69,46,500 equity shares, at a price band of Rs 21 to Rs 23 per share, according to the data available on the stock exchanges.

Retail Portion and Non-institutional portion were subscribed 49.25 and 258.02 times respectively. Qualified Institutional Investors was subscribed 310.81 times. Shareholder reserved portion was subscribed 87.20 times. Employee Portion was subscribed 5.17 times.

The issue received total applications of 90.31 lakh, according to www.chittorgarh.com.

Waaree Energies received 82.65 lakh applications in its IPO, and Tata Tech had 73.38 lakh applications, according to Basis of Allotment filed with the BSE.

The issue kicked off for subscription on Friday, January 9, 2026, and closed for subscription on Tuesday, January 13, 2026.

A day before the opening of the issue, Bharat Coking Coal Limited had raised Rs 273.1 crore from anchor investors. 

And the parentage of Coal India, a thriving steel sector and strong fundamentals they remain positive on Bharat Coking Coal.

On the valuation front, at the upper price band, the issue is valued at a P/E of 9 times and 2 times price-to-book value, and there are no comparable Indian peers.