Bharat Coking Coal Limited (BCCL), a subsidiary of state-owned Coal India, made history with its Initial Public Offering (IPO) in January 2026, attracting an overwhelming response from investors. The ₹1,071 crore issue, which was open for subscription from January 9 to January 13, 2026, received bids amounting to an impressive ₹1.17 lakh crore (approximately $13 billion). This extraordinary demand resulted in the IPO being subscribed nearly 147 times over the shares on offer. Notably, the BCCL IPO set a new record in India's primary market by garnering 90.31 lakh applications, surpassing previous benchmarks. This robust investor interest highlights strong confidence in the public sector undertaking, which is India's largest producer of coking coal and a crucial supplier to the steel industry. The IPO marked the first mainboard public offering of 2026, setting a positive tone for the year's capital market activities. The price band for the IPO was set at ₹21 to ₹23 per equity share, with a minimum application size of 600 shares. The strong subscription was led by qualified institutional buyers (QIBs), followed by non-institutional investors (NIIs) and retail individual investors (RIIs), indicating broad-based enthusiasm across investor categories. The success of the BCCL IPO is seen as a reflection of sustained appetite for established energy and resource companies in India and the government's ongoing divestment strategy in the coal sector.