The first mainboard IPO is about to hit the market for stock market investors in the new year. A subsidiary of a major government company in the coal sector is about to enter the market...

The first mainboard IPO of the new year! A government company subsidiary is ready to hit the stock market. Learn the details.

Bharat Coking Coal IPO: The first mainboard initial public offering (IPO) is about to hit the market for stock market investors in the new year. A subsidiary of a major government company in the coal sector is going to launch, and the price band has been set.

The approximately ₹1,071 crore (approximately $10.71 billion) IPO of Bharat Coking Coal, a subsidiary of Coal India, will open on January 9. This issue will be entirely an offer for sale (OFS), meaning no new shares will be issued. Let's learn more about this IPO...

The company has fixed the price band 

Investors will be able to bid in Bharat Coking Coal's ₹1,071 crore IPO at a price range of ₹21 to ₹23. Each lot consists of 600 shares, while employees will be offered a discount of ₹2 per share.

The company has set January 9th for its IPO. Investors can place their bets until January 13th. Share allotment will take place on January 14th. The company's shares are expected to be listed on the BSE and NSE on January 16th. 

How many shares will be issued?

The company is planning to issue a total of 465.7 million shares with a face value of ₹10 each under the IPO. However, no new shares will be issued. The entire issue is an offer for sale. Promoter Coal India plans to reduce its stake by approximately 10% through this IPO. 

Condition of company shares in the gray market

Bharat Coking Coal shares are showing strong gains in the gray market. They are trading above the upper price band by ₹16.25, likely reflecting investor enthusiasm.