Investors are investing a lot of money in coal related companies. There is a stir in the IPO market these days. The IPO of government company Bharat Coking Coal is making waves. It was liked a lot by the investors on the first day of subscription and the same trend is being seen on the second day also. Bharat Coking Coal’s Initial Public Offering (IPO) entered the second day of bidding on Monday, January 12. This issue was subscribed 8.09 times on the first day of bidding on Friday.
Bharat Coking Coal IPO opened for subscription on Friday, January 10 and will close on January 13. Before opening, the company raised Rs 273.1 crore from anchor investors. The price band of BCCL IPO has been fixed at Rs 21-23 per share. The issue is purely an offer for sale (OFS) from its promoter, Coal India, which means the company will not receive any money.
GMP of BCCL IPO
This company premium is fantastic. BCCL is getting good premium in the gray market. According to data from investorgain.com, BCCL IPO GMP today was Rs 10.6, indicating a listing price of Rs 33.6 per share. If this happens, investors will get a profit of about 46 percent as soon as the listing is done. BCCL shares are expected to be listed on BSE and NSE later this week on January 16.
what does the company do
Bharat Coking Coal Limited is the largest producer of coking coal in the country, contributing about 58.5 percent of the domestic coking coal output in FY25. This company is a fully subsidiary of Coal India Limited and has estimated reserves of about 7,910 million tonnes of coal.
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