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  1. Bharat Coking Coal, Shadowfax Technologies, Amagi Media Labs: How IPOs listed in 2026 are performing

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Bharat Coking Coal, Shadowfax Technologies, Amagi Media Labs: How IPOs listed in 2026 are performing

Journalist Kamal Joshi, former Republic TV and latestly editor, now associated with Upstox

3 min read | Updated on February 11, 2026, 11:51 IST

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SUMMARY

Shares of Bharat Coking Coal and Amagi Media Labs have managed to stay above their initial public offering (IPO) issue prices. In contrast, Shadowfax Technologies' shares are down.

All three mainboard IPOs were listed in January 2026. | Image: Shutterstock

All three mainboard IPOs were listed in January 2026. | Image: Shutterstock

The year 2026 has witnessed the listing of three initial public offerings (IPOs) so far, apart from issues of Aye Finance and Fractal Analytics currently open for subscription. Of the three listings, two are trading above their issue prices, while one is below.

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Shares of Bharat Coking Coal and Amagi Media Labs have managed to stay above their IPO issue price. In contrast, Shadowfax Technologies shares are down.

Bharat Coking Coal

Shares of Bharat Coking Coal, a subsidiary of Coal India Ltd, were trading at ₹36.70 apiece, which is 59.56% higher than the issue price of ₹23 per share on the National Stock Exchange (NSE) at 11:49 am on Wednesday, February 11. The stock had debuted at a premium of 95.65% at ₹45 apiece on January 19.

The ₹1,071.11 crore IPO was solely an offer for sale (OFS) of 46.57 crore shares by promoter Coal India, without fresh issuance of shares. The issue was subscribed 146.87 times.

Bharat Coking Coal, one of the largest coking coal producers in the country, recorded a ₹22.8 crore net loss for the quarter ended December 2025, compared to a profit of ₹424.99 crore a year back.

Amagi Media Labs

Cloud-managed services and advertising technology player Amagi Media Labs' shares were up 16.34% to ₹420 apiece from the issue price of ₹361 per share. It had debuted at a discount of 11.91% on January 21.

The ₹1,788.62 crore initial share sale was a mix of new shares aggregating to ₹816 crore and an OFS component of ₹972.62 crore. The IPO was booked 30.22 times.

Incorporated in 2008, Amagi Media Labs Ltd offers cloud-based broadcast and connected television technology, providing solutions to media companies for distribution and monetisation of their videos.

Shadowfax Technologies

Shares of Shadowfax Technologies were trading at ₹119.16 apiece, 3.9% below its issue price of ₹124. It was listed at a discount of 9.19% against the issue price on January 28.

The ₹1,907.27 crore initial share sale comprised a fresh issuance of shares valued at ₹1,000 crore and an OFS component of ₹907.27 crore. The IPO was booked 2.72 times.

Shadowfax Technologies provides logistics services for quick commerce, e-commerce, food delivery and on-demand mobility. As of September 30, 2025, the company's network spanned over 14,700 pin codes in India, offering diverse services for express parcel deliveries, reverse pickups, exchange deliveries, prime and same-day deliveries, hyperlocal deliveries, mobility services and critical logistics.

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About The Author

Journalist Kamal Joshi, former Republic TV and latestly editor, now associated with Upstox
Kamal Joshi is a business journalist who covers industries, markets, and IPOs. He is passionate about breaking news and enjoys playing pickleball, especially flexing his net play. He was previously associated with Republic TV and LatestLY.

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