The allotment for the Bharat Coking Coal (BCCL) IPO finalised on January 14, after the bidding process ended on January 13.The IPO received strong interest across investor categories during its three-day subscription period. With the allotment likely to be completed today, successful applicants can expect shares to be credited to their demat accounts soon. Similarly, the refunds for unsuccessful bidders will be processed accordingly. However, Bharat Coking Coal will now list on January 19 instead of January 16 due to a trading holiday in Maharashtra. The stock exchanges declared January 15 a full market holiday because of Brihanmumbai Municipal Corporation elections. Since both BSE and NSE operate from Mumbai, trading, settlement and clearing activities are impacted, forcing exchanges to adjust the IPO listing timeline.
The price band for the IPO was fixed at Rs 23 per share, and the minimum application size was 600 shares. This translated into a minimum investment of Rs 13,800 for retail investors.IDBI Capital Markets Services acted as the book-running lead manager for the issue, while KFIN Technologies is the registrar. Investors can check their allotment status online through the BSE, NSE or registrar’s website once the process is completed.Global coking coal trade is driven by steel production, which rose from 1,433 million tonnes in 2010 to 1,892 million tonnes in 2023.
Demand is concentrated in Asia, led by China, India, Japan, Russia and South Korea, while supply is dominated by Australia, the U.S., Mongolia, Russia and Canada, with Australia accounting for about half of global exports. According to media reports and investorgain.com, the unlisted shares of Bharat Coking Coal Ltd are trading at ₹36.5, reflecting a grey market premium of 58.70% or ₹13.5 over the upper price band of ₹23.