BCCL Rs 1300 cr IPO soon? Coal India subsidiary Bharat Coking Coal Limited public issue in 2 weeks; SEBI gave nod in September

The Indian primary market in 2026 is expected to begin with a high-profile state-owned listing, as Bharat Coking Coal ( BCCL), a wholly-owned subsidiary of Coal India, a Maharatna PSU, is likely to launch its initial public offering ( IPO) within the next two weeks, sources told ET NOW

Report suggests that the IPO size could be around Rs 1,300 crore, implying a pre-listing valuation of roughly Rs 13,000 crore for Bharat Coking Coal. Key details of the issue, includig Price band, lot size and issue structure are expected to be finalised closer to the launch, in consultation with the book-running lead managers.

BCCL had filed DRHP in May with SEBI, as well as BSE and NSE, for its proposed IPO.

Sourced have told PTI that vacant post of six independent directors on the board of BCCL needs to be filled up expeditiously for the speedy listing.

Sources said that the Coal Ministry had informed Cabinet Secretary TV Somanathan that "at present six independent director positions are vacant on the board of BCCL, which need to be filled up expeditiously for speedy completion of the listing process".

As per SEBI, all independent directors should be in place before filing the final Red Herring Prospectus.

BCCL IPO: Coal India To Divest Stake

Coal India had earlier said that BCCL IPO will entirely be an OFS of 46.57 crore shares. Under the OFS, Coal India offload its stake in BCCL.

BCCL IPO is part of the government's broader divestment strategy in the coal sector. BCCL IPO is aimed at unlocking value in subsidiaries and improving operational transparency through market listing.

Central Mine Planning and Design Institute Ltd (CMPDI), another wholly-owned subsidiary of Coal India, has also filed its DRHP with SEBI for its proposed IPO.

BCCL is a coal-producing subsidiary and CMPDI is a technical arm of Coal India.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)