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1 hour ago
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Jan 15, 2026, 10:06:31 AM IST
The listing of Bharat Coking Coal, a subsidiary of Coal India, has been postponed due to municipal elections in Maharashtra. Investors will now have to wait three more days for the stock to debut on the exchanges.
Agencies
Earlier, the company had planned to finalise allotment on January 14, initiate refunds on January 15 and list the stock on January 16. The change was necessitated as stock markets will remain closed on January 15 due to the Maharashtra municipal elections.
Agencies
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Revised schedule for refunds and listing
Under the revised schedule, IPO allotment remains unchanged on January 14. However, refunds will now be initiated on January 16, while the listing has been pushed to January 19.
ETMarkets.com
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One of the strongest subscription responses
The Rs 1,071 crore IPO saw robust demand, with bids worth over Rs 1.1 lakh crore, making it one of the most heavily subscribed issues in recent years. Investors bid for more than 50.93 crore shares at the upper price band of Rs 23.
Agencies
The issue also set a new benchmark in participation, attracting 90.31 lakh applications, reflecting strong interest from both retail and institutional investors in the PSU subsidiary.
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The Bharat Coking Coal IPO is currently commanding a grey market premium (GMP) of Rs 14, implying a premium of nearly 61% over the upper issue price. Based on GMP trends, the stock is estimated to list around Rs 37 per share.
ETMarkets.com
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What investors should note
While the strong GMP indicates positive sentiment and expectations of listing gains, investors should note that grey market premiums are unofficial indicators. Actual listing performance will depend on market conditions and demand on the day of debut.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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