MUMBAI: The Rs 1,071-crore initial public offering (IPO) for Bharat Coking Coal (BCCL) was subscribed 147 times at close on Tuesday with the total number of applications at over 90 lakh, a new record for any maiden offering in India. The total demand for the IPO was worth nearly Rs 1.2 lakh crore, data on BSE showed.The institutional part of the offer, which is a subsidiary of Coal India, was subscribed 311 times, while the non-institutional investors portion was subscribed 258 times. The retail portion of the IPO, which brought in most of the applications for the offer was subscribed a little over 49 times.Against 34.7 equity shares that were on offer, it received bids for 5,093 crore shares. The offer was at a price band of Rs 21 to Rs 23 per share, offer papers showed.The company had allotted shares worth Rs 273 crore through the anchor route.
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