Bharat Coking Coal Ltd (BCCL) – IPO Overview

Company Background:

Bharat Coking Coal Limited (BCCL) was incorporated in 1972 as a Government of India enterprise. It is promoted by the President of India through the Ministry of Coal, with Coal India Limited acting as the corporate promoter.

BCCL is one of India’s leading producers of coking coal, playing a vital role in supporting the domestic steel and power industries.

The company’s operations are primarily located in:

• Jharia Coalfields, Jharkhand

• Raniganj Coalfields, West Bengal

BCCL is engaged in the mining, processing, and supply of coking coal, non-coking coal, and washed coal. Its operations include a mix of opencast and underground mines, supported by coal washeries.

The company largely supplies coal to steel manufacturers and power utilities under regulated allocation mechanisms and fuel supply agreements. Its business model emphasizes large-scale mining, operational efficiency, and alignment with national energy and industrial priorities. Financial Snapshot:

1. Valuation: P/E 8.64, P/B 1.89 (both below sector average)

2. Revenue: ~₹14,000 crore consistently over FY23–FY25

3. Profit: Strong profitability; peak in FY24 (₹1,564 crore)

4. Debt: Zero debt balance

5. IPO Type: 100% OFS; no fresh capital infusion

6. Overall: Debt-free company with stable revenues, healthy profits, and attractive valuations.
   

Bharat Coking Coal Ltd IPO – Key Details

• IPO Dates: 9 January – 13 January 2026

• Price Band: ₹21 – ₹23 per share

• Lot Size: 600 shares

• Issue Type: Offer for Sale (OFS)

• Issue Size: ₹1,071 crore

• Retail Investor Quota: 30%

• GMP: ~35% (informational only)
  

Allotment Link

Key Strengths:

• Leading producer of coking coal, critical for India’s steel industry.

• Long operating history since 1972 with strong mining expertise.

• Strong promoter backing from the Government of India and Coal India Limited.

• Access to substantial coal reserves in strategic coalfields.

• Integrated mining and coal processing operations.

Key Risks:

• High dependence on demand from the steel sector.

• Geographic concentration of mines increases operational risks.

• Business significantly influenced by government regulations and policies.

• Exposure to contingent liabilities and ongoing legal proceedings.

• Dependence on Coal India Limited for strategic and operational support.

DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matters published here are purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor before making any actual investment decisions, based on the information published here. Any reader making decisions based on any information published here does so entirely at their own risk. Investors should bear in mind that any investment in the stock market is subject to unpredictable market-related risks. The author has no plans to invest in this offer and also the author does not recommend investing in any offer published on this website.