Bharat Coking Coal (BCCL), a wholly-owned subsidiary of Coal India (CIL), has received Securities and Exchange Board of India’s (SEBI) go-ahead to raise funds through initial public offering (IPO). The company’s issue will be entirely an offer for sale of 46.5 crore shares by its parent CIL, with no fresh issuance component.
The proposed IPO of BCCL is part of the government’s broader divestment strategy in the coal sector, aimed at unlocking value in subsidiaries and improving operational transparency through market listing. The IPO plan comes after BCCL paid its maiden dividend of Rs 44.43 crore to CIL. This milestone follows BCCL’s achievement of clearing its accumulated losses.
Established to mine and supply high-grade coking coal, BCCL plays a critical role in powering India's steel sector, which depends heavily on its output.
