New Delhi: Bharat Coking Coal Ltd (BCCL), an arm of Coal India, on Thursday said it has mobilised over Rs 273 crore from anchor investors, a day before the opening of its initial public offering (IPO).
Major anchor investors include Life Insurance Corporation of India, Bandhan Mutual Fund, Nippon India Mutual Fund and UTI Mutual Fund, according to a circular uploaded on the BSE’s website.
Additionally, foreign funds like Citrine Fund, Copthall Mauritius, Societe Generale ODI and Maybank Securities were also allotted shares, the circular showed.
Bharat Coking Coal has allocated 118,753,500 equity shares to anchor investors for Rs 23 per share. This aggregates the fundraising to Rs 273.13 crore.
The company’s Rs 1,071-crore initial public offering (IPO) will open on January 9, marking the first public issue of 2026. The issue will close on January 13.
The price band has been fixed at Rs 21 to Rs 23 per share, and at the higher end, the company is valued at over Rs 10,700 crore.
According to the red herring prospectus (RHP), the maiden public issue is entirely an offer for sale (OFS) of 46.57 crore equity shares by Coal India.