Overview
- It allotted 11,87,53,500 shares at Rs 23 each to anchor investors on Jan. 8, raising about Rs 273 crore.
- Anchor participants included LIC, which took 28.56% of the book, alongside Bandhan Smallcap Fund, Nippon India Mutual Fund, UTI Mutual Fund, Societe Generale, ASAS Capital and Citrine Capital.
- The public offer opens Jan. 9 and closes Jan. 13 with a price band of Rs 21–23, with allotment tentatively on Jan. 14 and listing targeted for Jan. 16 on the BSE and NSE.
- The issue is entirely an offer for sale of up to 46.57 crore shares by promoter Coal India, and the proceeds will accrue to the parent company.
- BCCL is a Coal India subsidiary and India’s largest producer of coking coal, operating mainly in the Jharia and Raniganj coalfields.