By Admin 
Bharat Coking Coal IPO: The first mainboard Initial Public Offering (IPO) is going to come for stock market investors in the new year. A subsidiary of a leading government company related to the coal sector is going to enter the market, for which a price band has been fixed.
The IPO of Coal India’s subsidiary Bharat Coking Coal worth about Rs 1,071 crore will open from January 9. This issue will be a complete offer for sale. That means no new shares will be issued in this. Let us know about this IPO….
The company decided the price band
Investors will be able to bid in the Rs 1,071 crore IPO of Bharat Coking Coal at a price band of Rs 21 to 23. 600 shares have been placed in one lot, while it has been decided to give a discount of Rs 2 per share to the employees.
The company has fixed January 9 as the date for the IPO. Investors will be able to place bets till January 13. Allotment of shares will take place on January 14. It is expected that the company shares will be listed on BSE and NSE on January 16.
How many shares will be issued
The company is going to issue a total of 46.57 crore shares with face value of Rs 10 in the market under IPO. However, no new shares will be issued in this. The entire issue has been placed under offer for sale. Under this IPO, promoter Coal India is planning to reduce its stake by about 10 percent.
Condition of company shares in gray market
Shares of Bharat Coking Coal are showing tremendous growth in the gray market. The shares are trading above the upper price band by Rs 16.25. Due to which enthusiasm can be seen among investors.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)
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