Bharat Coking Coal Secures ₹273 Cr from Anchors Before IPO

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AuthorIshaan Verma|Published at:
Bharat Coking Coal Secures ₹273 Cr from Anchors Before IPO
Overview

Bharat Coking Coal, a subsidiary of Coal India Ltd, raised ₹273.10 crore from anchor investors ahead of its IPO opening on January 10, 2026. The issue is an offer-for-sale totaling ₹1,071.1 crore.

Anchor Investors Fuel Bharat Coking Coal IPO

Bharat Coking Coal Ltd (BCCL), a wholly-owned subsidiary of Coal India Ltd, successfully raised ₹273.10 crore from anchor investors on Thursday, January 9, 2026. This crucial funding milestone occurred just ahead of the company's Initial Public Offering (IPO) which opens for public subscription on Friday, January 10.

IPO Details and Offer Size

The coal major allotted 1.187 crore shares to these discerning anchor investors at a price of ₹23 per share. This pre-IPO capital infusion sets the stage for the main offering. The overall IPO is structured entirely as an offer-for-sale (OFS), with Coal India Ltd divesting up to 46.57 crore shares. At the upper end of the price band, the total issue size is estimated at ₹1,071.1 crore.

Marquee Participants and Underwriters

Several prominent institutional investors participated in the anchor book. These included the Life Insurance Corporation (LIC), Societe Generale, Copthall Mauritius Investment Ltd, Citrine Fund, M7 Global Fund PCC - ASAS Global Opportunities Fund, Maybank Securities, and Rajasthan Global Securities Private Ltd. The fundraising effort is being managed by lead book-running managers IDBI Capital Markets & Securities and ICICI Securities. KFin Technologies Limited serves as the registrar for the offer.

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