The Initial Public Offering (IPO) of Bharat Coking Coal Limited (BCCL), a wholly-owned subsidiary of Coal India Limited and a 'Mini Ratna' PSU, has generated significant investor interest since its opening on January 9, 2026, and is slated to close on January 13, 2026. The IPO's strong performance is attributed to several key factors, including an attractive price band of ₹21 to ₹23 per equity share, making it accessible to a wide range of investors. BCCL's near-monopoly status in India's coking coal sector is a major draw. The company is the country's largest producer of coking coal, accounting for approximately 58.50% of India's total domestic coking coal output in FY25, and holds substantial reserves. This strategic importance in India's steel-making value chain underpins its business stability. Furthermore, the IPO includes a dedicated 10% reservation for eligible Coal India shareholders, with a record date of January 1, 2026, and a maximum application amount of ₹2 lakh, enhancing appeal for existing investors of the parent company. The investor demand has been overwhelming, with the IPO being subscribed over 28 times overall by Day 2, January 12, 2026. The retail portion alone saw subscriptions of over 23 times, while the non-institutional investor segment was heavily oversubscribed. High Grey Market Premium (GMP), ranging from 43% to 47%, further indicates strong market sentiment and expectations of significant listing gains. This public issue, an offer-for-sale by Coal India to raise ₹1,071 crore, positions BCCL as a stable, cash-generating business with long-term relevance in India's industrial landscape.