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Bharat Coking Coal IPO Review

Bharat Coking Coal IPO has been reviewed by 19 analysts, and the overall consensus is Strong Apply — carrying a score of 98. Out of the 19 analysts who have covered this IPO, 18 recommend subscribing while 1 advises caution or avoidance — reflecting a broadly positive view from the analyst community.

The issue is priced in the band of ₹21-23 per share, with a minimum application size of 600 shares (minimum investment of approximately ₹13,800 at the upper band). Subscription ran from 09 Jan 2026 to 13 Jan 2026. The issue size is ₹1,071 crore, entirely an offer for sale — the company receives none of the proceeds. As of now, the grey market premium (GMP) for Bharat Coking Coal IPO is quoting at ₹19 (83%), which gives a preliminary sense of how the street is pricing the listing — though GMP is unofficial and can swing sharply before the listing date. Scroll down for the full analyst breakdown and analyst-wise verdicts.

Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Analyst verdict & score

One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated

Sentiment score
98/ 100
Strong Apply 18 of 19 recommend subscribing
How analysts voted
Apply 18
Neutral 1
Not rated 3

Higher consensus indicates broader analyst agreement.

Detailed review

What the analyst reports say, grouped by the question you're likely asking.

General review

Bharat Coking Coal is the largest coking coal producer in India, a sector the notes tie directly to steel growth and energy security. Revenue was ₹14,401.63 crore in FY25 with EBITDA of ₹2,356.06 crore. Coverage was strongly positive: sixteen of the twenty-one analysts said subscribe, with only one neutral.

Listing gains

At the ₹23 upper band the notes put the market cap at about ₹10,711 crore and the valuation near 17 times earnings. Analysts consistently describe this as reasonable for a company with this market position. With sixteen subscribe ratings and no avoid rating, the coverage pointed clearly to a positive listing.

Short-term strategy

Profitability has improved sharply, with one note citing revenue, EBITDA and profit CAGRs of 4.6, 88.1 and 36.6 percent. But the half year to September 2025 produced only ₹459.93 crore of EBITDA against ₹2,356.06 crore for full-year FY25, so the seasonal pattern matters when reading near-term results.

Long-term strategy

Analysts recommend it as a long-term investment, framing it as a play on India's infrastructure and steel growth. Coking coal is essential to steelmaking and largely imported today, so a domestic producer of this scale has a structural position. Long-term returns therefore track domestic steel capacity growth.

How this is written: an AI-assisted summary of the 22 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.

Analyst reviews

Ordered by each analyst's track record over the past year; analysts still building one are listed last.

Latest IPO reviews

How analysts rated the most recent mainboard issues — and, where they have listed, how the call played out.

Frequently asked

Should I apply for Bharat Coking Coal IPO?

The analyst consensus for Bharat Coking Coal IPO tracked on this page is Strong Apply, with a score of 98/100. Out of 19 analysts who have reviewed this IPO, 18 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.

What does the score of 98 mean for Bharat Coking Coal IPO?

The score of 98 is an aggregate of all analyst ratings tracked for Bharat Coking Coal IPO. A score in this range indicates strong analyst confidence — most analysts are recommending a subscribe. Read the individual analyst verdicts above for more context.

What was the actual listing price of Bharat Coking Coal IPO?

Bharat Coking Coal IPO listed on January 19, 2026 at ₹45, against the issue price of ₹23 — a gain of +95.65% (₹22 per share). View the full GMP history page for day-wise pre-listing trends.

What is the price band and lot size of Bharat Coking Coal IPO?

Bharat Coking Coal IPO was priced at ₹21-23 per share. The minimum lot size is 600 shares, making the minimum investment approximately ₹13,800 at the upper end of the price band. Subscription ran from 09 Jan 2026 to 13 Jan 2026.

Explore Bharat Coking Coal IPO further

Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.

Bharat Coking Coal IPO review

A verdict is an opinion, not a guarantee.

IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.

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Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.

Consensus
Strong Apply
Score
98 / 100
Listed at
₹45
Full IPO details