Mumbai witnessed a historic moment in the financial markets on Tuesday. The initial public offering for Bharat Coking Coal Limited achieved unprecedented success. This subsidiary of Coal India saw its Rs 1,071 crore IPO get subscribed a staggering 147 times.
Record-Breaking Investor Response
Market data reveals astonishing numbers. The total number of applications crossed 90 lakh, setting a fresh record for any maiden offering in India. Total demand for the IPO reached nearly Rs 1.2 lakh crore according to BSE figures.
Institutional Investors Lead the Charge
Institutional investors demonstrated exceptional confidence in the offering. Their portion was subscribed 311 times, showing strong institutional appetite. Non-institutional investors followed closely with 258 times subscription.
Retail Participation Remains Strong
Retail investors contributed significantly to the overwhelming response. The retail portion brought in most of the applications and was subscribed just over 49 times. Against 34.7 crore equity shares on offer, the company received bids for 5,093 crore shares.
Pricing and Anchor Allocation Details
The offer featured a price band of Rs 21 to Rs 23 per share as per offer documents. Before the public opening, the company had already allotted shares worth Rs 273 crore through the anchor route. This pre-IPO placement indicated early institutional interest.
The massive oversubscription reflects growing investor confidence in the coal sector. It also highlights the robust appetite for public offerings in the current market environment. Market analysts are calling this a landmark event that could influence future IPO pricing and investor strategies.
