New Delhi. The Rs 1,071.11 crore IPO of Bharat Coking Coal Limited (BCCL), a subsidiary of Coal India, the country’s largest coal producing company, was launched for subscription today.

Bidding in this IPO can be done till January 13. After the closing of the issue, the shares will be allotted on January 14, while the allotted shares will be credited to the demat account on November 15.

The company’s shares may be listed on BSE and NSE on January 16. This IPO is the first mainboard segment IPO of the year 2026. By 1:30 pm the company’s IPO had been subscribed 5.42 times.

The price band for bidding in this IPO has been fixed at Rs 21 to Rs 23 per share, while the lot size is 600 shares. In this IPO of BCCL, retail investors can bid for at least 1 lot i.e. 600 shares, for which they will have to invest Rs 13,800.

Similarly, retail investors can bid for a maximum of 14 lots i.e. 8,400 shares, for which they will have to invest Rs 1,93,200. Under this IPO, a total of 46.57 crore shares with face value of Rs 10 are being sold through the offer for sale window.

On Thursday, January 8, a trading day before the opening of the IPO, BCCL raised Rs 273.13 crore from anchor investors. The country’s largest life insurance company, Life Insurance Corporation of India (LIC), invested the maximum amount in Anchorbook.

LIC acquired 3.39 crore shares of BCCL with an investment of Rs 78 crore. Apart from this, in the anchor book, Nippon Life India Mutual Fund acquired 3.26 crore shares with an investment of Rs 75 crore and Bandhan Mutual Fund acquired 3.26 crore shares with an investment of Rs 75 crore.

Apart from these three anchor investors, prominent names like UTI Mutual Fund, Société Générale, Citrine Fund, Rajasthan Global Securities, M-7 Global Fund, Copthal Mauritius Investment and Maybank Securities have also joined the anchor book.

In this IPO, 42.50 percent share has been reserved for Qualified Institutional Buyers (QIBs) including anchor investors.

Apart from this, 29.75 percent share is reserved for retail investors, 12.75 percent share for Non-Institutional Investors (NIIs), 5 percent share for employees and 10 percent share is reserved for old shareholders.

IDBI Capital Markets Services Ltd has been appointed as the book running lead manager for this issue, while Kfin Technologies Ltd has been appointed as the registrar.

Talking about the financial condition of the company, as per the claims made in the Draft Red Herring Prospectus (DRHP) submitted to the capital market regulator SEBI, its financial health has been fluctuating.

The company had a net profit of Rs 664.78 crore in the financial year 2022-23, which increased to Rs 1,564.46 crore in the next financial year 2023-24.

There was a decline in company profits in the financial year 2024-25. This year the company made a net profit of Rs 1,240.19 crore. Whereas in the first half of the current financial year i.e. from April to September 30, 2025, the company has made a net profit of Rs 123.88 crore.

During this period, there were slight fluctuations in the company’s revenue receipts. It received a total revenue of Rs 13,018.57 crore in the financial year 2022-23, which increased to Rs 14,652.53 crore in the financial year 2023-24 and decreased slightly to Rs 14,401.63 crore in the financial year 2024-25.

In the first half of the current financial year i.e. from April to September 30, 2025, the company has received a revenue of Rs 6,311.51 crore. The reserves and surplus of the company also increased during this period. In the financial year 2023-24, it was at the level of Rs 664.72 crore, which increased to Rs 1,805.73 crore in 2024-25.

Whereas in the first half of the current financial year i.e. from April to September 30, 2025, it was at the level of Rs 1,006.52 crore. Talking about the debt burden on the company, till September 30, 2025, it had a debt of Rs 1,559.13 crore.

Similarly, EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization) was at the level of Rs 891.31 crore in 2022-23, which increased to Rs 2,493.89 crore in 2023-24.

Similarly, in 2024-25 the EBITDA of the company came to the level of Rs 2,356.06 crore. In the first half of the current financial year i.e. till 30 September 2025, it remained at the level of Rs 459.93 crore.