Overview
- Promoter Coal India will sell up to 46.57 crore shares in the issue, with all proceeds going to the parent and no fresh capital raised by BCCL.
- The offer equals 10% of BCCL’s paid-up equity, with reservations for employees and existing Coal India shareholders and a 50%/15%/35% split for QIBs, non-institutional and retail investors on the net public portion.
- The price band is yet to be announced, with IDBI Capital and ICICI Securities as book runners and KFin Technologies as registrar.
- BCCL is India’s largest coking coal producer with about 7,910 million tonnes of reserves, operating mainly in Jharia in Jharkhand and Raniganj in West Bengal.
- Reported timelines indicate allotment is expected on Jan. 14 with a likely listing on the BSE and NSE on Jan. 16.