The Bharat Coking Coal (BCCL) Initial Public Offering (IPO) demonstrated robust investor confidence, achieving a subscription rate of 33.67 times by the end of its second day of bidding. The public issue, valued at ₹1,071.11 crore, commenced its subscription period on January 9, 2026, and concluded on January 13, 2026. Priced in the range of ₹21 to ₹23 per equity share, the IPO is entirely an Offer for Sale (OFS) of 46.57 crore shares by existing shareholders, meaning the company itself will not receive proceeds from the offering. Investor interest intensified on the final day, with the overall subscription reaching approximately 146 to 147 times, driven primarily by strong participation from Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs). Retail investors also showed significant demand, subscribing to their portion about 48 to 50 times. Market indicators such as the Grey Market Premium (GMP) reflected positive sentiment, with the GMP hovering around ₹10.6 to ₹10.7 on Day 3. This suggested an estimated listing price of approximately ₹33.6 to ₹33.7, indicating a potential listing gain of about 46% to 47% over the upper IPO price band. The allotment of shares is expected to be finalized on January 14, 2026, followed by the tentative listing of BCCL shares on the BSE and NSE on January 16, 2026. This IPO marks a significant event for the Indian financial market, particularly for the coal sector.