Bharat Coking Coal IPO: Key Details To Check Before Applying
- Share.Market
- 2 min read
- 07 Jan 2026
Coal India’s subsidiary and a Miniratna Category- I public sector undertaking (PSU), Bharat Coking Coal Ltd. (BCCL) is set to launch its Initial Public Offering (IPO).
| Issue Period | 9 – 13 January 2026 |
| Price Band | ₹21 – ₹23 per share (Employee Discount: ₹1) |
| Lot Size | 600 Shares |
| Minimum Investment | ₹12,600 |
| Issue Size | ₹1071 Crore (100% offer for sale) |
| Shareholder Quota | 10% of the issue size |
The issue includes a 10% reservation for existing shareholders of Coal India Ltd. if they held the shares as of the record date 01 January 2026.
COALINDIA
Strengths
Dominant Market Position
BCCL contributed to 58.5% of India’s domestic coking coal in FY25 and is India’s largest domestic coking coal producer.
Strategically Located Mines With Large Washeries
The company’s mines are strategically located in the Jharia and Raniganj coalfields, and its large washeries represent a significant competitive advantage that enhances operational efficiency, reduces costs, and ensures high-quality coal production.
Well Positioned To Capitalize On Demand For Coking Coal In India
The demand for coking coal is expected to rise to 128 million metric tonnes by 2035, while it currently stands at 67 million tonnes. The company is well positioned to capture this demand due to its well-developed infrastructure, including coal mines, transport facilities, and evacuation facilities.
Strong Parentage Of Coal India
The company is a subsidiary of Coal India Ltd. , which is the largest coal producing company in the world. BCCL benefits significantly from their strategic support and vast resources. This includes access to advanced technologies, a pool of skilled professionals, and robust financial backing.
Weaknesses
Geographic Concentration
The company operated 34 mines in the Jharia and Raniganj coalfields, putting it at risk due to geographic concentration. Stricter regulations, environmental rules or natural disasters in these areas could significantly impact its business.
Customer Concentration
The company’s top 10 customers contributed to 83.89% of its revenue in the six months ending September 30, 2025 and 88.88% in FY25, Losing a major customer or operational issues at its customers’ facilities could impact its revenue.
Contingent Liabilities
BCCL reported contingent liabilities totaling ₹3598.59 crore including income tax, GST, royalty disputes, litigation claims and arbitration issues.
