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Upcoming IPOs with shareholder quota: Reliance Jio, SBI Mutual Fund, IGX, Mahanadi Coalfields & more
5 min read | Updated on January 28, 2026, 15:18 IST
SUMMARY
Bharat Coking Coal IPO, a Coal India subsidiary with a shareholder quota, saw robust investor interest with overall subscription of 143 times. Here is a list of 11 upcoming IPOs that could have a shareholder quota.
Investors applying for the IPO under the shareholder as well as retail category increase the chance of IPO allotment. | Image: Shutterstock
Indian IPO markets witnessed a decent start in 2026. So far in January, around 3 mainboard and 14 SME IPOs have successfully raised funds through their initial public offering (IPO).
One of the standout IPOs so far was Bharat Coking Coal (BCCL), which successfully raised ₹1,069 crore from investors between 9 and 13 January. Bharat Coking Coal, which is a subsidiary of Coal India, saw its IPO subscribed over 143 times, out of which 87.2 times the subscription was under the shareholders category.
Investors who held just 1 share of Coal India were eligible to apply under the special shareholders category for Bharat Coking Coal IPO. If a subsidiary of a listed company plans to bring IPOs, then listed companies generally reserve a portion for their shareholders. For example, Coal India has reserved 10% of the BCCL issue size, i.e. ₹107 crore, for its shareholders.
This special shareholder quota allows retail investors to apply under the retail and shareholder categories, increasing their chances of obtaining allotment. According to experts, to be eligible for the shareholders' quota, retail investors should have at least one share of the listed entity before the filing date of the red herring prospectus (RHP) or as on the record date announced by the parent company.
Bharat Coking Coal made a robust market debut on January 19 with its shares listing at 96.5% premium. Investors who applied under the shareholder as well as the retail category could have increased their chances of getting IPO allotment.
Now that Bharat Coking Coal IPO is done and dusted. Here is a list of upcoming IPOs that may have shareholders' quota:
Upcoming IPOs with shareholders' quota
| Subsidiary name | Parent company | SEBI IPO Status |
|---|---|---|
| Jio Platforms IPO | Reliance Industries | Reliance Industries likely to divest 2.5% stake in Jio Platforms but awaits regulatory approval |
| Hero FinCorp IPO | Hero Motocorp | The company has received SEBI approval for ₹3,668 crore IPO |
| SBI Funds Management IPO | State Bank of India (SBI) | The company plans 10% stake sale and has appointed nine banks for proposed IPO |
| NLC India Renewables IPO | NLC India | NLC India plan to divest stake in renewable energy arm and raise up to ₹4,000 crore |
| Greaves Electric Mobility IPO | Greaves Cotton | The company received SEBI nod in May 2025 for fresh issue of ₹1,000 crore |
| Indian Gas Exchange (IGX) IPO | Indian Energy Exchange (IEX) | Company likely to launch its IPO by December 2026 |
| EAAA India Alternatives IPO | Edelweiss Financial Services | The company has filed DRHP IPO documents with SEBI to raise ₹1,500 crore |
| Mahanadi Coalfields IPO | Coal India | Coal India board has given IPO approval |
| South Eastern Coalfields IPO | Coal India | Coal India board has given IPO approval |
| Central Mine Planning & Design Institute IPO | Coal India | The company has filed DRHP with SEBI. IPO expected by March 2026 |
| Belstar Microfinance IPO | Muthoot Finance | Has received SEBI nod in 2024 for to raise ₹1,300 crore |
Meanwhile, the Mahanadi Coalfields IPO and the South Eastern Coalfields IPO are in the planning stage after the Coal India board gave its in-principle approval for public issue. Investors holding just 1 share of Coal India could be eligible for three IPOs of Coal India subsidiaries.
Reliance Industries is awaiting regulatory approval from Ministry of Finance to reduce the minimum size of share sale from 5% to 2.5%.
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