BCCL preparing to raise capital from stock market. (symbolic photo)
Jagran correspondent, Dhanbad. The share price of Mini Ratna Bharat Coking Coal Limited, a subsidiary of Coal India, has been fixed between Rs 21 and 23. It is estimated that investors will get allotment at Rs 23. Investors will have to apply for a minimum of 600 shares, which requires a minimum investment of ₹13,800 at the upper price.
Listing of shares on the stock exchanges (BSE and NSE) IPO is opening on 16 January. The listing has been fixed for January 16. A target has been set to raise approximately Rs 1,071 crore. 35 percent of the IPO has been reserved for retail investors, which increases the chances of common people getting shares.
A discount of Re 1 per share is being given to eligible employees of BCCL. Regarding this, meetings are going on with BCCL top management and big shareholders in many cities. The meeting will be held in Ahmedabad on January 7.
Market will open with better response
Sunil Kumar Mehta, retired Executive Director Finance (CA) from Coal India and currently Independent Director of Credifin Limited, Mahindra MSTC Recycling Private Limited and ICA EDU Skills Private Limited, said that the response to BCCL's stock is very good. Many big investors have shown interest in it.
There is a lot of potential for listing gains for investors. The stock is expected to get an allocation of at least Rs 23 per face blue ten rupees estimated share. Listing would increase the brand value of the company. BCCL is considered an important company due to its limited resources of coking coal in India. The company is doing much better. Coking coal has a lot of scope.
Company in profit, stock market will improve
Dhanbad's financial advisor Anil Mokim says that BCCL is profitable. Its effect will be better visible on the stock market. There is already a very good response among the shareholders. Dhanbad's coking coal producing company is going to be listed in the stock market. Investors should show interest in it. Will share with much better response to come.