Coal India arm Bharat Coking Coal IPO subscribed 146.81 times on final day

The initial public offering (IPO) of Bharat Coking Coal Ltd, a subsidiary of Coal India, was subscribed a massive 146.81 times on the final day of bidding on Tuesday, driven by strong demand across investor categories.

The ₹1,071-crore IPO received bids for 50,93,44,51,200 shares against 34,69,46,500 shares on offer, according to data available with the NSE.

The issue saw overwhelming interest from qualified institutional buyers (QIBs), whose portion was subscribed 310.81 times. The non-institutional investors’ segment was subscribed 258.04 times, while the retail individual investors (RIIs) category garnered 49.26 times subscription.

Market participants attributed the robust response to the company’s strong fundamentals, its position in the coking coal segment, and the backing of Coal India. The heavy oversubscription reflects sustained investor appetite for public sector offerings amid favourable market conditions.

Bharat Coking Coal Ltd plays a key role in supplying coking coal to the steel sector and is considered a strategically important company within the Coal India group.