The first full trading week of the new year, starting January 5, 2026, will witness the launch of five initial public offerings (IPOs), with only one company scheduled to list during the week.
The sole mainboard issue comes from Bharat Coking Coal Limited (BCCL), India’s largest coking coal producer and a subsidiary of Coal India. The IPO will open for public subscription on January 9 and close on January 13. The company is yet to announce the price band for the issue.
The BCCL IPO is a pure offer-for-sale (OFS) of 46.57 crore equity shares by promoter Coal India, with no fresh issue component.
SME IPOs Dominate the Calendar
The remaining four IPOs belong to the SME segment, starting with Gabion Technologies India, which will open its issue on January 6 and close on January 8. The New Delhi-based company, engaged in manufacturing gabions, rockfall protection nettings and geosynthetic materials, aims to raise ₹29.16 crore through an IPO of 36 lakh shares. The price band has been fixed at ₹76–81 per share.
Two more SME issues — Victory Electric Vehicles International and Yajur Fibres — will open on January 7 and close on January 9.
- Victory Electric Vehicles plans to raise ₹34.56 crore through an issue of 84.3 lakh shares priced at ₹41 per share.
- Kolkata-based Yajur Fibres, a producer of cottonised bast fibres, is targeting ₹120.4 crore via an IPO of 69.2 lakh shares, with a price band of ₹168–174 per share.
The final SME IPO of the week will be Defrail Technologies, which manufactures rubber components for the automotive, railway and defence sectors. The issue will open on January 9 and close on January 13, consisting entirely of a fresh issue of 18.6 lakh shares.
Listing Watch: Modern Diagnostic
Meanwhile, Modern Diagnostic & Research Centre, a Haryana-based pathology and radiology services provider, is scheduled to debut on the BSE SME on January 7. The company’s ₹37-crore IPO closed on January 2 with over 350 times subscription.
According to market participants, Modern Diagnostic shares are commanding a grey market premium of over 17%, while Gabion Technologies has seen a premium of more than 30%. The remaining IPOs have not yet shown significant grey market activity.
Disclaimer: This content is for informational purposes only and not investment advice. Please consult a financial advisor before making any investment decisions.
