Bharat Coking Coal share price rises up to 7% on Day 2 of listing, surges over 84% from IPO issue price

Intraday, the stock rose as much as 7.07% to ₹43.45 per unit on the National Stock Exchange (NSE). At 11:54 am, it was up 3.08% to ₹41.83 per share. Its market capitalisation stands at ₹19,456.95 crore.

The scrip has risen 84.39% over the issue price of ₹23 per share at the intraday level.

The stock listed at ₹45 per share on the NSE, reflecting a premium of 95.65% over the issue price on Monday. It listed at ₹45.21, up 96.57% on the BSE.

The ₹1,071.11 crore initial share sale was exclusively an offer for sale (OFS) of 46.57 crore shares by promoter Coal India. There was no fresh issuance of shares.

The issue secured 146.87 times subscription, with bids for 50,95,55,58,000 equity shares as against 7,91,69,000 shares on offer, according to the stock exchanges data.

The non-institutional investors' (NIIs) part was subscribed 258.16 times, while the retail segment fetched 49.33 times subscription. The portion for qualified institutional buyers (QIBs) received 310.81 times subscription.

Prior to the initial public offering, Bharat Coking Coal had raised ₹273.1 crore from anchor investors, including LIC, Copthall Mauritius Investment, Societe Generale, M7 Global Fund PCC-ASAS Global Opportunities Fund, Citrine Fund, Rajasthan Global Securities, UTI Dividend Yield Fund, Bandhan Small Cap Fund, A/C Nippon India Small Cap Fund and Maybank Securities.

"With an overwhelming response, BCCL’s IPO resulted in full subscription within minutes of the opening. The strong investor interest continued unabated till the closure of the offering, with the issue getting subscribed over 146 times. It is a true confidence booster for CIL,” the Coal India chief said.