The Indian bourse lit up as Bharat Coking Coal Limited (BCCL) shares blasted off at nearly double the IPO price on debut. BSE listing at ₹45.21 represented a 96.57% premium over ₹23, with NSE at ₹45 for 95.65%—a dream start for 2026’s pioneer main-board IPO.
Oversubscribed 146.87 times on ₹1.17 lakh crore bids, it became the second-most subscribed PSU issue, fully booked day one thanks to ravenous institutional demand alongside retail and NII fervor.
Such hype is rare, say veterans, signaling PSU revival and BCCL’s appeal. Coal India’s ₹1,300 crore OFS sold 46.57 crore shares at ₹21-23, orchestrated by elite book-runners IDBI Capital and ICICI Securities.
Profit metrics impress: ₹1,240 crore net in FY25 (post ₹1,564 crore FY24, ₹665 crore FY23); H1 FY26 at ₹124 crore from ₹749 crore. Revenue clocked ₹13,803 crore in FY25, powered by FY24’s record 39.11 MT output and 5.80% CAGR in production through tech upgrades.
With steel demand surging, BCCL’s efficiency edge forecasts robust returns. This blockbuster debut thrills markets, paving way for more coal sector successes.