Bharat Coking Coal Limited (BCCL), a Coal India subsidiary, made a forceful entrance into the stock market. The initial public offering (IPO) price of the company was fixed at ₹23 per share. On the first day of trading, the share opened at a substantially high premium, thus providing investors with considerable profits.
Listing Performance and Market Capitalization
In the case of BCCL's shares on the Bombay Stock Exchange (BSE), the stock opened at ₹45.21, indicating a premium of 96.56 percent over the issue price. On the National Stock Exchange (NSE) the stock also started off at ₹45, which was a 95.65 percent premium. Investors who were allotted shares therefore almost doubled their investments on the first day itself. The market capitalization of the company post-listing increased to ₹19,456.965 crore.
IPO Details and Subscription Response
The company came up with a ₹1,071 crore IPO with a price range of ₹21 to ₹23 per share. This IPO was the first IPO of 2026 from the mainboard. The issue got fully subscribed within a few minutes of its opening. By the last day of the bidding, the total bids received were worth ₹1.17 lakh crore. The total subscription was at 146.81 times, which is an indication of very strong investor demand. Considering this response, a strong listing was anticipated by all.
Company Background and Stake Sale
BCCL was set up in 1972. It is a coal company that operates in Jharkhand and West Bengal. The IPO was a part of Coal India’s strategy to unlock its value. Furthermore, the government sold its stake via an Offer for Sale (OFS). In total, 46.57 crore equity shares were sold to the public through the issue.
Broader Market Movement
The broader stock market, however, was trading lower despite BCCL's amazing debut. At 1 PM, the Sensex was at 83,039.21, which was a decrease of more than 500 points. The Nifty was at 25,529.25, reflecting a drop of 165 points.
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