The Initial Public Offering (IPO) of Bharat Coking Coal Limited (BCCL), a wholly-owned subsidiary of Coal India Limited, has received an overwhelmingly positive response on its first day of subscription, January 9, 2026. Multiple credible sources confirm that the IPO was oversubscribed approximately 8 times by the end of Day 1, with some reports indicating it was fully subscribed within minutes of opening. BCCL is widely recognized as India's largest producer of coking coal, a critical raw material for the steel industry, accounting for approximately 58.5% of the country's domestic coking coal production in FY2025. The IPO, which will remain open until January 13, 2026, aims to raise ₹1,071 crore through an Offer for Sale (OFS) of 46.57 crore equity shares by its promoter, Coal India Limited. This means the proceeds from the IPO will go to the parent company, not BCCL. Investor categories showed robust interest, with the retail investors' portion being subscribed over 9 times and the non-institutional investors' segment witnessing a subscription of more than 16 times. Even the shareholder-reserved portion was booked more than 10 times. The strong demand is indicative of investor confidence in the company's market leadership and strategic importance to India's core sectors, despite challenges such as declining profits in the latest half-year and regulatory dependence. The IPO's success underscores the ongoing trend of strong activity in India's primary market and the government's push for divestment.