‘Fund from IPO will help BCCL diversify into rare earth metals’

MINIRATNA Bharat Coking Coal, the largest miner of coking coal and a subsidiary of national miner Coal India, whose IPO was fully subscribed within hours of opening on January 9, thanks to the reasonable pricing for the %1,071 crore issue.

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This is the first of the eight subsidiaries that will hit the market this year and the rest by 2030 as the government seeks to monetise large coal assets. In an interview, the company’s chairman and MD Manoj Kumar Agarwal tells Benn Kochuveedan that Bharat Coking with the commissioning of its largest Block E located in the Jharia coalfields in the Dhanbad district of Jharkhand, their annual output will go up by 15 million tonne. Exdited Excerpts:

Apart from being the largest miner of coking coal with nearly 60% of the market share, what makes Bharat Coking Coal a unique company for an investor?