Bharat Coking Coal Limited

Bharat Coking Coal Limited (BCCL), incorporated in 1972, is a coal mining company and a subsidiary of Coal India Limited that produces coking coal, non coking coal and washed coals. It is the largest coking coal producer in India, accounting for about 58.50 percent of the country's domestic coking coal production in Fiscal 2025, and its output rose from 30.51 million tonnes in Fiscal 2022 to 40.50 million tonnes in Fiscal 2025. The company operates 32 mining facilities, made up of 25 opencast, 3 underground and 4 mixed mines, concentrated in the Jharia and Raniganj coalfields. Its integrated operations span mining and coal processing, and it draws on a large resource base to serve demand that is anchored in the domestic steel industry, for which coking coal is a critical raw material. As a Coal India subsidiary ultimately held by the Government of India through the Ministry of Coal, BCCL benefits from strong sovereign and parent backing and a largely debt light balance sheet. This offer is a pure offer for sale through which the promoters divested a portion of their holding, so the company itself did not receive any fresh proceeds; the shares were listed on the exchanges as part of the government's disinvestment programme.

The company's selling shareholders raised about Rs 273.13 crore from anchor investors ahead of the issue by allotting 11,87,53,500 equity shares at Rs 23 per share, with the anchor allocation finalised on January 8, 2026. Life Insurance Corporation of India took the largest portion, at about 3.39 crore shares.