After the recent close of the Bharat Coking Coal Limited (BCCL) initial public offering (IPO), investors are eager to know their allotment status. The allotment date is today, January 14. You can check if you’ve received shares on the BSE, NSE, or through Kfin Technologies, the registrar for the offer.
The IPO attracted impressive interest. On the last day of bidding, the qualified institutional buyers (QIB) segment was oversubscribed by more than 310 times. The non-institutional investors (NII) portion received 258 times the bids, while the retail category had a 49 times subscription rate. Even the employee and shareholder allocations were popular, coming in at 5.17 and 87.20 times, respectively. In total, the IPO was oversubscribed 146.80 times, leading to a remarkable demand of nearly ₹1.17 lakh crore for the ₹1,071 crore offer.
This IPO is a complete offer for sale by Coal India, the promoter. That means all proceeds go to them, not BCCL itself. The IPO aims to help the company reap the benefits of being publicly listed.
The price range for BCCL shares was set between ₹21 and ₹23, with an application lot size of 600 shares.
Today, the grey market premium (GMP) for BCCL shares saw a notable increase, reaching ₹13.85, suggesting that the shares could start trading around ₹36.85, which would be a 60% premium over the offer price.
This high demand reflects a growing interest in the coal sector, especially as India continues to rely on coal for its energy needs. In 2022, India’s coal consumption surged, accounting for over 50% of the country’s energy requirements. Analysts believe that the robust response to BCCL’s IPO highlights investor confidence in the sector’s growth potential.
Meanwhile, social media is buzzing with investor excitement. Hashtags related to BCCL IPO are trending, with many sharing their thoughts on potential gains and market movements. It’s a vibrant time for investors as they watch for updates on their allotments.
Stay tuned for more news on the allotment status and market reactions!
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