BCCL IPO Check GMP Range & procedure for allotment status

With a robust subscription, Bharat Coking Coal IPO has opened to overwhelming investor response on January 9 and the allotment of share is finalized on 14 January, Wednesday. The Coal India’s subsidiary, planning to raise Rs 1,071 crore through its public issue was fully subscribed within 30 minutes of opening and witnessed over 8 times subscription from Day 1.

New Delhi: With a robust subscription, Bharat Coking Coal IPO has opened to overwhelming investor response on January 9 and the allotment of share is finalized on 14 January, Wednesday. The Coal India’s subsidiary, planning to raise Rs 1,071 crore through its public issue was fully subscribed within 30 minutes of opening and witnessed over 8 times subscription from Day 1.

BCCL on Day 3 continues to see a strong response from the retail investors quota subscribed over 33 times. The IPO overall is booked nearly 46.5 times till 11am on Day 3. The Price Band lies between Rs 21 to Rs 23 per share and the Lot size is 600 shares. The minimum investment is at Rs 13,800 per lot at the upper end of price band.

The company has reserved shares worth Rs 1,07.1 crore for Coal India shareholders (10% of the issue size). However, under the shareholders' quota, there will be no further discount for the IPO applicants.

The investors who do not receive any allotment will likely to get refund to be initiated on January 16 instead of 15 January. The shares are to be listed on the BSE and NSE on January 16, which might change.

The Coal India’s subsidiary BCCL is expected to sustained long-term shareholding value creating substantial potential of Rs 1 lakh crore by FY30.

The booking running lead managers for the IPO are IDBI Capital Markets & Securities Ltd and ICICI Securities Ltd, while KFin Technologies Ltd is the registrar for the issue. The Qualified Institutional Buyers (QIBs) gets subscription of 310.81 and Non-Institutional Investors with 258.16.

BCCL IPO grey market premium (GMP) is currently in the range of 45-46%. This strong early demand in the unofficial grey market indicates that the company’s IPO could see a huge response and investor interest amid attractive GMP.

Here to Check the allotment status for IPO:

Visit the KFin Technologies’ IPO allotment status page.

Click on any of the links.

In select IPO, select “Bharat Coking Coal (BCCL) Ltd”.

Enter any of the following details:

1-PAN

2-APP. No.

3-Demat Account

Click Submit.