Bharat Coking Coal Ltd IPO

Bharat Coking Coal Ltd IPO

The Company produce various grades of coking coal, non-coking coal and washed coals for applications primarily in the steel and power industries. The Company was incorporated in 1972 to mine and supply coking coal concentrated in mines located at Jharia, Jharkhand and Raniganj, West Bengal coalfields. The Company has expanded its operations significantly over the years, with its coal production increasing from 30.51 million tonnes in Fiscal 2022 to 40.50 million tonnes in Fiscal 2025, which is an increase of 32.74% over Fiscal 2022. Further, its coal production was 15.75 million tonnes in the six months period ended September 30, 2025, as compared to 19.09 million tonnes in six months period ended September 30, 2024. In Fiscal 2024, we produced 39.11 million tonnes of coking coal and 1.99 million tonnes of non-coking coal, surpassing its previous records of coking coal production.

Bharat Coking Coal Ltd IPO Details

Total Shares Offered

₹ 46,57,00,000

Offer to Public

46,57,00,000

Retail Max (Shares)

₹ 13,85,45,750

Pre Issue Promoters Holding

₹ 4,65,70,00,000

Exchange

BSE

Issue size

₹ 1071.11 Cr

IPO Open Date

Jan 9, 2026

Close Date

Jan 13, 2026

Lot Size

600

Min Investment

₹ 12,600

Issue Type

Book Building

Listing Date

Jan 16, 2026

Bharat Coking Coal Ltd IPO Dates

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Jan 9, 2026
Opening date
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Jan 13, 2026
Closing date
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Jan 14, 2026
Basis of Allotment
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Jan 15, 2026
Initiation of Refunds
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Jan 15, 2026
Credit of Shares
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Jan 16, 2026
Listing date

Details

SectorType
SectorMining
Sub SectorMinerals
Issue TypeBook Building

Subscription Status

*Values are in Lakhs

Investor Type

QIB

NII

Retail

Employee

Total

Bharat Coking Coal Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)
Particulars (in Rs. Crores)FY23FY22FY21
Revenue from operations2,283.572,432.06835.62
EBITDA2,864.252,772.451,141.05
PAT1,240.191,564.46664.78
Total Assets9,612.208,214.007,527.74
Share Capital4,657.004,657.004,657.00
Total Borrowings4,317.854,197.274,093.33
Operating Activities (Net Cash)1,820.871,904.85970.21
Investing Activities (Net Cash)-1,616.37-1,101.29-1,220.11
Financing Activities (Net Cash)4,317.854,197.274,093.33
Net Cashflow1,129.85944.631,154.20

About Bharat Coking Coal Ltd

The Company was incorporated in Bihar as Bharat Coking Coal Limited, as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated January 01, 1972, issued by the Registrar of Companies, Bihar at Patna. Thereafter, the Company was converted from a private limited company to a public limited company, pursuant to a special resolution passed by its shareholders in the extraordinary general meeting held on April 28, 2025, and a fresh certificate of incorporation dated May 7, 2025, was issued by the Registrar of Companies, Central Processing Centre.

Coal and iron ore are the bedrock of India's mineral wealth, playing a critical role in driving the nation's industrial and economic progress. These minerals not only fuel the country's energy needs but also support the backbone of its manufacturing sector, particularly in steel production. (Source: CRISIL Report, Industry Overview on page 162) In Fiscal 2025, the coking coal demand is 67 MMT and is expected to reach 138 MMT in Fiscal 2035. Thetotal coking coal supply shows a surplus in most years, which is not the case as very limited coking coal is directlybeing used in steel industry owning to the inferior quality of Indian coking coal. Going ahead, though the cokingcoal supply is expected to be more than the demand, demand of coking coal for steel is expected to increase.

The Company produce various grades of coking coal, non-coking coal and washed coals for applications primarily in the steel and power industries. The Company was incorporated in 1972 to mine and supply coking coal concentrated in mines located at Jharia, Jharkhand and Raniganj, West Bengal coalfields. The Company has expanded its operations significantly over the years, with its coal production increasing from 30.51 million tonnes in Fiscal 2022 to 40.50 million tonnes in Fiscal 2025, which is an increase of 32.74% over Fiscal 2022. Further, its coal production was 15.75 million tonnes in the six months period ended September 30, 2025, as compared to 19.09 million tonnes in six months period ended September 30, 2024. In Fiscal 2024, we produced 39.11 million tonnes of coking coal and 1.99 million tonnes of non-coking coal, surpassing its previous records of coking coal production.

Peer Comparison:

  • Bharat Coking Coal Limited

Bharat Coking Coal Ltd Key Points

Strengths

Largest coking coal producer in India with access to large reserves.

Strategically located mines with large washeries.

Well positioned to capitalize on demand for coking coal in India.

Strong parentage of Coal India Limited.

Consistent track record of growth and financial performance.

Risk

Information relating to its reserve and resource base included in this Red Herring Prospectus are estimates, and the company's actual production, revenues and expenditure with respect to its reserves and resources may differ materially from these estimates. Additionally, certain reserve and resource base information provided in this Red Herring Prospectus has been prepared and classified in accordance with Indian Standard Procedure guidelines (the ISP Guidelines), which has not been audited by SRK Mining Services (India) Private Limited (SRK) and differs from international standards.

The company's mines and washeries are concentrated in Jharia, Jharkhand and Raniganj, West Bengal and the eventual exhaustion of coal reserves in these areas or its inability to successfully exploit existing reserves may adversely affect the company's business, results of operations, financial conditions and cash flows.

A significant portion of its revenues is derived from production of raw coking coal, which accounted for 77.20%, 74.13%, 75.72%, 75.75% and 74.79% of the company's revenue from operations in the six months period ended September 30, 2025 and 2024 and Fiscals 2025, 2024 and 2023, respectively. Any decline in demand for raw coking coal could have an adverse impact on its business, results of operations, financial condition and cash flows.

Strategy

Utilize its resources effectively to sustain and expand operations, driving growth and maximizing efficiency.

Transform discontinued mines into profitable ventures through resource monetization, and strategic repurposing.

Monetize, modernize, and renovate its washeries.

Implement energy conservation methods to enhance operational efficiency and reduce environmental impact.

Leverage its resources in the Jharia coalfields to drive growth.

How To Apply for Bharat Coking Coal Ltd IPO Online?

Step 1:

Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.

Step 2:

From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Bharat Coking Coal Ltd IPO?

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Bharat Coking Coal Ltd's IPO offers shares for up to 0 It begins on Jan 9, 2026 and ends on Jan 13, 2026.

What is the price of the Bharat Coking Coal Ltd IPO?

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The price of Bharat Coking Coal Ltd IPO ranges between ₹21 to ₹23 per share.

What are the open and close dates for the Bharat Coking Coal Ltd IPO?

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The Bharat Coking Coal Ltd IPO opens on Jan 9, 2026 and closes on Jan 13, 2026.

When will the Bharat Coking Coal Ltd IPO be allotted?

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The allotment for the Bharat Coking Coal Ltd IPO will be finalised on Jan 14, 2026. The shares will be listed on BSE and NSE on Jan 16, 2026.

What is the minimum lot size required for Bharat Coking Coal Ltd IPO?

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The minimum lot size for Bharat Coking Coal Ltd IPO is 600 shares, priced between ₹21 to ₹23 per share.

What is the GMP of Bharat Coking Coal Ltd IPO?

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The GMP (Grey Market Premium) of Bharat Coking Coal Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Bharat Coking Coal Ltd IPO?

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To check the allotment status of Bharat Coking Coal Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Bharat Coking Coal Ltd IPO getting listed?

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The Bharat Coking Coal Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Jan 9, 2026, and closes on Jan 13, 2026. The allotment is finalised on Jan 14, 2026.

How do you apply for the Bharat Coking Coal Ltd IPO?

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To apply for the Bharat Coking Coal Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.

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