IPO
Bharat Coking Coal’s Rs.1,071-Cr IPO gets 147x bids
The INR 1,071-crore initial public offering of Dhanbad, Jharkhand-based Bharat Coking Coal (BCCL) was oversubscribed 147 times, drawing INR 1.17 lakh crore in bids. The company, which is India's top coking coal miner, received bids for 50.93 billion shares. The firm is a subsidiary of state-owned Coal India.Qualified institutional buyers bid for 24.61 billion shares, about 311 times the number of shares on offer for them. Non-institutional investors' and retail investors' quotas were subscribed 258 times and 49 times, respectively. The public issue is entirely an offer for sale (OFS) of 46.57 crore equity shares by Coal India.
For FY25, Bharat Coking Coal had reported about INR 13,998 Cr in Operating Income and about INR 1,240 Cr in PAT.
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