Kolkata (Economy India): Bharat Coking Coal Limited (BCCL), a wholly owned subsidiary of Coal India Ltd and the country’s largest producer of coking coal, has raised Rs 273.1 crore from anchor investors ahead of its forthcoming initial public offering (IPO), the company said on Thursday.
As part of the anchor book allocation, BCCL allotted 11,87,53,500 equity shares to anchor investors at a price of Rs 23 per share, indicating strong institutional interest ahead of the public issue.
IPO Opens on January 9
The IPO of Bharat Coking Coal is scheduled to open for public subscription on January 9, marking one of the most closely watched public sector offerings in the mining and energy space this year.
The anchor investment provides early validation of investor confidence in the company’s business fundamentals, operational scale, and long-term outlook.
About Bharat Coking Coal
Bharat Coking Coal Ltd is a key subsidiary of Coal India Ltd, the world’s largest coal mining company. BCCL is India’s largest producer of coking coal, a critical raw material used primarily in the steel manufacturing industry.
The company operates predominantly in Jharkhand, managing multiple underground and opencast mines and supplying coking coal to major steel producers across the country.
Strategic Importance of the IPO
The IPO is part of the government’s broader disinvestment and capital market monetisation programme, aimed at unlocking value in public sector enterprises and improving operational efficiency through market discipline.
For Coal India, the listing of BCCL is expected to:
- Unlock subsidiary valuation
- Enhance transparency and corporate governance
- Provide growth capital for expansion and modernisation
- Support long-term coal supply security for the steel sector
Investor Interest in the Coal and Steel Value Chain
The strong anchor participation comes amid renewed investor focus on companies linked to:
- Infrastructure growth
- Steel production
- Energy security
Despite the global push towards clean energy, coking coal continues to remain a strategic commodity due to its irreplaceable role in steelmaking.
What Lies Ahead
With the anchor book fully subscribed, market participants will closely watch:
- Retail and institutional subscription trends
- Pricing response during the IPO window
- Post-listing performance amid broader market conditions
Further details regarding the issue size, offer structure, and use of proceeds are expected to be outlined in the company’s offer document.
(Economy India)
