Bharat Coking Coal IPO allotment LIVE: Following the closure of the Bharat Coking Coal Limited (BCCL) initial public offer (IPO) on Tuesday, with a solid demand, investor focus has now shifted to its allotment status.
Bharat Coking Coal IPO allotment date is today, January 14. Investors can expect to know if they have received the allotment for the BCCL IPO via the exchanges or the registrar. Bharat Coking Coal IPO allotment status is available on BSE, NSE or Kfin Technologies — the registrar of the offer.
Bharat Coking Coal IPO subscription and details
At the end of the third and final day of bidding, the qualified institutional buyer (QIB) segment of BCCL IPO was booked 310.81 times. Its non-institutional investor (NII) quota received 258.02 times bids, and the retail portion closed with 49.25 times subscription.
The employee and shareholder quotas also saw robust demand, with 5.17 and 87.20 times bids, respectively. Overall, BCCL IPO was subscribed 146.80 times.
The ₹1,071-crore offer generated a demand of close to ₹1.17 lakh crore.
The issue was entirely an offer for sale by its promoter, Coal India. As a result, all proceeds from the share sale will accrue to the Maharatna PSU and not to the company. In its prospectus, the company stated that the IPO is intended to help it realise the benefits of listing.
The BCCL IPO price band was set at ₹21–23 per share, with an application lot size of 600 shares and multiples thereof.
Bharat Coking Coal IPO GMP
BCCL IPO GMP today has jumped sharply to ₹13.4. This means that BCCL shares are trading at ₹13.4 above the offer price of ₹23. At the prevailing GMP, Bharat Coking Coal shares could list at ₹36.4 — a premium of 58%.
Track this space for all the LIVE updates on Bharat Coking Coal IPO allotment status.
