JSA Advocates & Solicitors advised on the initial public offering of Bharat Coking Coal Limited (“BCCL”), comprising an offer for sale of 465,700,000 equity shares by Coal India Limited, aggregating to ₹10,687.82 million.
The initial public offering witnessed exceptional investor interest and was subscribed 146.87 times overall, with strong demand across Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and retail investor categories. The issue attracted over 90 lakh applications, with total bids amounting to nearly ₹1.2 lakh crore.
The equity shares of Bharat Coking Coal Limited listed at a premium of 96% over the offer price, marking one of the most notable public market transactions in the PSU mining sector in recent years.
The JSA team was led by Arka Mookerjee, Partner; with support from the Capital Markets team led by Pracheta Bhattacharya, Partner, supported by Sourav Modi and Kairav Parikh, Principal Associates, and Jeebitesh Bhattacharya and Aditya Shendye, Associates.
Arka Mookerjee is a Partner and Co-Head of the Equity Capital Markets practice, with over 21 years of experience advising on India’s most complex and high-value transactions. Widely recognised for pioneering mandates—including India’s first QIP and InvIT IPO—he represents issuers, underwriters and investors across capital markets and investment structures. Arka actively engages with regulators and industry bodies, playing a key role in shaping India’s evolving capital markets framework.