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Bharat Coking Coal IPO Surges: Fully Subscribed in 30 Mins!
13 Jan
Summary
- Bharat Coking Coal IPO fully subscribed within 30 minutes on Day 1.
- Grey market premium stands at Rs 11, a 46% increase over issue price.
- IPO closes on January 13, priced between Rs 21 and Rs 23.
The Rs 1,071 crore Bharat Coking Coal IPO demonstrated immense investor interest, achieving full subscription within an unprecedented 30 minutes on its opening day. By the end of the first day, the issue was subscribed 8.09 times, driven significantly by robust demand from retail and non-institutional investors. The current grey market premium stands at Rs 11, approximately 46% above the issue price, indicating strong anticipation for a favorable listing. This IPO, which offers shares in the range of Rs 21 to Rs 23, is scheduled to conclude its bidding process on January 13.
Bharat Coking Coal, India's premier producer of coking coal, plays a vital role in the nation's steel industry. As a wholly-owned subsidiary of Coal India, it holds substantial coking coal reserves and operates numerous mines across Jharkhand and West Bengal. The company reported significant revenue and profit in FY25, maintaining a debt-free status despite margin fluctuations. Analyst reports suggest the company is fairly valued, with recommendations for subscription to potentially capture listing gains.
