Overview
- The public offer runs January 9–13 and comprises up to 46.57 crore shares through an offer for sale by promoter Coal India.
- In the anchor tranche, BCCL raised about Rs 273.1 crore by allotting 11,87,53,500 shares at Rs 23 each to investors including LIC, Bandhan Smallcap, Nippon India MF, UTI, Societe Generale, ASAS Capital and Citrine Capital.
- Share allotment is slated for January 14, demat credit for January 15, and listing on BSE and NSE for January 16.
- At the upper price band, gross proceeds are estimated at about Rs 1,071 crore, which will accrue to Coal India as there is no fresh issue component.
- BCCL is a wholly owned Coal India subsidiary founded in 1972 and India’s largest producer of coking coal, with estimated reserves of about 7,910 million tonnes.