Mumbai, Jan. 8 -- Coal India Ltd's (CIL's) key subsidiary Bharat Coking Coal Ltd (BCCL) is set to launch the first mainboard initial public offering (IPO) of 2026, marking an important step in the government-owned miner's long-planned monetization strategy.

BCCL, incorporated in 1972, is India's largest producer of coking coal and plays a strategic role in CIL's portfolio. The company has an estimated 7.91 billion tonnes of reserves as of 1 April 2024, making it one of the country's biggest holders of coking coal resources. Its operations are concentrated in the premium coal belts of Jharia and Raniganj, where it runs 34 active mines-four underground mines, 26 opencast mines, and four mixed mines-which makes it a critical supplier to ste...