BCCL Raises ₹273.1 Crore from Anchor Investors Ahead of IPO
Bharat Coking Coal Ltd (BCCL), India’s largest producer of coking coal and a subsidiary of Coal India Limited, raised ₹273.1 crore from anchor investors on January 8, 2026, ahead of the opening of its ₹1,071 crore initial public offering on January 9. The company allotted 11.88 crore shares at a price of ₹23 per share to anchor investors, reflecting strong institutional interest even before the public issue commenced.
The anchor book includes major domestic institutional investors such as Life Insurance Corporation of India, which invested ₹78 crore, along with Nippon India Mutual Fund, Bandhan Mutual Fund, and UTI Mutual Fund, collectively acquiring 7.17 crore shares. International participation was also seen, with global financial institutions such as Société Générale featuring among the investors. Market observers note that a strong anchor book often boosts confidence among retail and non-institutional investors during the public subscription phase. The IPO is structured entirely as an offer-for-sale by Coal India, meaning the proceeds will accrue to the parent company rather than BCCL itself. These funds are expected to support Coal India’s plans for coal production expansion, mine modernisation, and capacity augmentation to meet rising steel sector demand. BCCL primarily operates in Jharkhand’s Jharia coalfields and West Bengal’s Raniganj coalfields, which together accounted for 58.5 percent of India’s total coking coal output in FY25, making the divestment a key component of Coal India’s long-term growth strategy.
