Listing on BCCL Today: Will the stock make a strong debut on BSE, NSE? Check GMP & more related news here

The first IPO of 2026 finally hits the stock market today after a brief delay. The listing of Bharat Coking Coal Limited (BCCL), which was scheduled for last week, has been postponed due to the Mumbai BMC elections.

Now that the wait is over, investors who received the allocation are closely watching how BCCL stock will open, especially as the gray market premium, or GMP, continues to point towards strong trading gains.

At the end of the bidding, Bharat Coking Coal’s IPO had been subscribed 143.85 times in total, reflecting strong investor interest.

The retail investor category was subscribed 49.37 times, showing strong participation from small investors. The qualified institutional buyers, or QIB, segment was subscribed 310.81 times, excluding anchor investors. The non-institutional investor category, or NII, was subscribed 240.49 times.

Such high subscription across categories has strengthened expectations of a positive listing for BCCL’s IPO.

LATEST GMP ESTIMATE AND LISTING

As per latest available data, Bharat Coking Coal IPO’s GMP stands at Rs 13.5. This was last updated on January 19, 2026, around 7:55 am.

With the upper price band of Rs 23, the estimated trading price is around Rs 36.5 per share. This indicates a possible trading gain of around 58.70%, based on gray market trends.

Market participants often point out that GMP is an unofficial indicator and can change rapidly during market hours.

WHAT BENEFITS CAN RETAIL INVESTORS EXPECT?

The lot size for BCCL IPO was 600 shares. If a retail investor was allotted a lot at the issue price of Rs 23 and the shares were trading close to the GMP-based estimate, the potential profit would be around Rs 8,100.

This is based on an expected profit of approximately Rs 13.5 per share. These figures are indicative and depend on the actual listing price.

Prashanth Tapse, senior vice president of research at Mehta Equities Ltd, said BCCL is expected to trade in the range of Rs 32-35, implying a premium of around 39-52% over the issue price.

It said the IPO recorded exceptionally strong subscription in the QIB, NII and retail segments, reflecting strong investor confidence. According to him, the demand was driven by the scarcity value of supply as it provides rare exposure to India’s largest and most integrated player in the coking coal value chain, which is a key input for the domestic steel industry.

Tapse added that the issue was reasonably priced, especially for a low-cost IPO, offering an attractive risk-reward profile. He also pointed to the company’s dominant market position and steady demand from expanding steel capacity as positives for the medium and long-term outlook.

As for the strategy, he said that in the best-case scenario, with listing gains of more than 50%, allocated investors could consider booking profits on about 50% of their holdings and holding the rest for the long term.

For unallocated investors, he advised against chasing the stock on listing day and suggested waiting for post-listing consolidation due to the potential for short-term volatility.

(Disclaimer: The views, opinions, recommendations and suggestions expressed by experts/brokers in this article are their own and do not reflect the views of India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading decisions.)

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