Bharat Coking Coal, CMPDI: How Coal India's listed subsidiaries have performed vs their IPO issue prices

Coal India Ltd's efforts to unlock value through listing of its subsidiaries, Central Mine Planning & Design Institute (CMPDI) and Bharat Coking Coal, have delivered commendable results.

Both CMPDI and Bharat Coking Coal are trading well above their respective IPO issue prices.

Bharat Coking Coal

The stock was up 86.30% at ₹41.70 a unit from the issue price, as of 11:43 am on June 23. The company’s market capitalisation stood at ₹19,419.69 crore.

The scrip had hit its 52-week high of ₹45.09 per share on January 19, 2026, while its 52-week low of ₹29.74 apiece was recorded on March 30, 2026.

The ₹1,071.11 crore initial public offer was only an offer for sale (OFS) of 46.57 crore shares by promoter Coal India. The issue was subscribed 146.87 times during the three-day bidding period.

In the three months ended March 2026, the company had posted a 58.97% decline in its net profit to ₹27.28 crore as against ₹66.50 crore a year back. Its revenue from operations fell 15% to ₹3,282.95 crore in the fourth quarter of the fiscal year 2026 compared to ₹3,865.79 crore in Q4 FY25.

CMPDI

Intra-day (June 23), the scrip touched its 52-week high of ₹264. Its 52-week low of ₹150.16 was recorded on April 7, 2026.

The ₹1,842 crore issue was exclusively an OFS of 10.71 crore shares by promoter Coal India Ltd. The IPO was subscribed 1.05 times.

The company had reported a 32.18% decline in its net profit to ₹187.82 crore in Q4 FY26, compared to ₹276.96 crore a year back. Its revenue from operations advanced 11.69% to ₹826.88 crore in the March quarter of fiscal 2026 vs ₹740.33 crore in Q4 FY25.

CMPDI provides consultancy and support services for coal and mineral exploration and mine planning and design services. Its services include infrastructure engineering, environmental management, geomatics, specialised technology services and management systems, primarily for the coal industry and other minerals.