BCCL sets price band for IPO

New Delhi: Bharat Coking Coal Ltd (BCCL), an arm of Coal India, on Monday said it has fixed a price band of Rs 21 to Rs 23 per share for its Rs 1,071-crore 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.

The offering will be keenly tracked by Dalal Street as an early gauge of investor appetite for public sector undertakings (PSUs) in the new year. 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. In its prospectus, the company stated that the IPO will help in achieving the benefits of listing.

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 retail investors and the remaining 15 per cent for non-institutional investors.