Shares of Coal India Ltd (CIL), the country's largest coal producer, are in focus today, i.e. on January 5, 2025, as its wholly-owned subsidiary Bharat Coking Coal Ltd (BCCL) is set to open its initial public offering (IPO) on January 9. BCCL's IPO will be the first public offering of 2026. Amid this update, the stock of the company started the trading session in the green at Rs 429.35 on the BSE against the previous close of Rs 427.90. It gained further to touch the high of Rs 436.60, representing a gain of 2.03 per cent from the last closing price. This is also the stock's fresh 52-week high. The 52-week low of the counter is Rs 349.20. However, the stock dipped later amid profit booking and hit the intraday low of Rs 432.40. The scrip has fallen after three days of consecutive fall.
Last seen, the stock was trading at Rs 426.95, with a drop of 0.22 per cent, and the market cap of the company stood at Rs 2,63,117.69 crore.
Technically, the stock trades higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
Bharat Coking Coal Ltd IPO
According to the available information, Coal India's wholly-owned subsidiary Bharat Coking Coal Ltd (BCCL) will announce key details related to the IPO today.
According to the red herring prospectus (RHP), the maiden public issue, entirely an offer for sale (OFS) of 46.57 crore equity shares by Coal India Ltd (CIL), will close on January 13, while anchor investor bidding is scheduled for January 8.
The proposed listing of BCCL is part of the government's broader divestment push in the coal sector, aimed at unlocking value in Coal India's subsidiaries and enhancing transparency through market discipline.
CMPDIL to launch IPO soon
Last year, Central Mine Planning and Design Institute Ltd (CMPDIL), another wholly-owned arm of CIL, had also filed its draft papers with Sebi for an IPO via the OFS route.
While BCCL is a coal-producing entity, CMPDIL serves as Coal India's technical and planning arm.
ALSO READ | PAN-Aadhaar link deadline over: Here's how to check if your PAN is active or not
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
