Is Gujarat NRE Coke Limited currently operational?

No. The company is under Corporate Insolvency Resolution Process (CIRP) initiated under the Insolvency and Bankruptcy Code (IBC), 2016. Operations at its coke oven plants have largely ceased and share trading remains suspended.

What happened to Gujarat NRE Coke?

The company defaulted on massive bank loans, primarily due to a collapse in global coking coal prices, operational losses at its Australian subsidiary, and high leverage. Lenders filed for insolvency under IBC, triggering CIRP proceedings.

What is the ISIN of Gujarat NRE Coke Limited?

The ISIN is INE110A01019. However, trading is suspended and the company is under insolvency proceedings.

Who are the major lenders to Gujarat NRE Coke?

Major lenders include State Bank of India, Punjab National Bank, Bank of Baroda, and other public sector banks that formed a consortium.

Does Gujarat NRE Coke have any resolution plan?

Multiple resolution plans were submitted and evaluated by the Committee of Creditors (CoC) during the CIRP process, but the outcome and final approval status have been subject to prolonged litigation and NCLT proceedings.

How do I buy Gujarat NRE Coke Limited unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Gujarat NRE Coke Limited?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Gujarat NRE Coke Limited shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Gujarat NRE Coke Limited Unlisted Share Price | Buy Gujarat NRE Coke Limited Pre-IPO Shares — wisefolio

Investment Thesis

Gujarat NRE Coke Limited is effectively a distressed/insolvent entity. It was once a significant player in India's metallurgical coke industry but collapsed under excessive debt and global commodity price pressures. The company is under CIRP and share trading is suspended. This is a high-risk, distressed-asset situation with minimal value for equity holders. Not suitable for investment.

Pros

Was one of India's largest producers of hard coking coal and metallurgical coke at peak operations
Integrated operations spanning coking coal mines in Australia (through subsidiary Gujarat NRE Coking Coal Ltd) and coke ovens in India
Held significant long-term supply contracts with major Indian steel producers
Large-scale plant capacity in Bhilai (Chhattisgarh) and other locations supporting domestic steel sector needs

Cons

Company admitted into Corporate Insolvency Resolution Process (CIRP) under IBC 2016 — insolvency proceedings initiated by creditors
Trading in shares suspended on BSE and NSE due to prolonged default and CIRP status
Accumulated massive debt obligations to banks and financial institutions running into thousands of crores
Australian coking coal subsidiary faced operational and financial difficulties, compounding parent company stress
Promoter pledging and fund diversion allegations raised by lenders during CIRP proceedings
No operational continuity as a going concern — resolution plan outcome uncertain

Business Segments

Metallurgical Coke Manufacturing

Production of hard metallurgical coke used by steel plants as a reducing agent in blast furnaces. Plants located in Bhilai (Chhattisgarh) and other sites.

Coking Coal Mining (Australia)

Through subsidiary Gujarat NRE Coking Coal Limited (ASX-listed), the company operated hard coking coal mines in New South Wales, Australia.

Revenue Model

Revenue generated from sale of metallurgical coke to steel manufacturers and trading of coking coal. Business model was vertically integrated: mine coking coal in Australia, ship to India, convert to met coke and sell to steel mills.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds10

Growth Plans

Successful approval of a resolution plan by NCLT could revive operations under new ownership

Strong demand for metallurgical coke from India's expanding steel sector could make the assets attractive to a strategic acquirer

Brownfield plant assets in Bhilai may be attractive to a new investor if acquired at a deep discount

Industry Tailwinds

Successful approval of a resolution plan by NCLT could revive operations under new ownership

Recent Developments

CIRP Proceedings Ongoing

The company continues under CIRP with NCLT overseeing the resolution process. No successful resolution applicant had been confirmed as of last available information.

2023

NCLAT Proceedings

Multiple appeals and litigations filed at NCLAT by various stakeholders including promoters, creditors, and resolution applicants, delaying final resolution.

2022

Australian Subsidiary Wound Down

Gujarat NRE Coking Coal Limited (Australian subsidiary) faced voluntary administration and was eventually wound down, ending the company's overseas coal mining operations.

2019

Comparable Companies

CompanyTypeTickerMkt Cap

Rain Industries LimitedListedRAIN~₹3,500 Cr (BSE-listed)

Sesa Goa (Vedanta)ListedVEDLLarge-cap

Tata Metaliks LimitedListedTATAMETALI~₹2,000 Cr

Rain Industries LimitedListed

RAIN · ~₹3,500 Cr (BSE-listed)

Frequently Asked Questions

About Gujarat NRE Coke Limited

Gujarat NRE Coke Limited was India's largest independent metallurgical coke producer, incorporated in 1986 with CIN L51909WB1986PLC040098. The company operated four coke manufacturing plants with a combined capacity of approximately 1.458 MTPA across Khambhalia (0.358 MTPA), Bhachau (0.311 MTPA), and Dharwad (0.248 MTPA) in Gujarat and Karnataka. It also operated a subsidiary in Australia, Gujarat NRE Minerals Limited (ASX: GNM), for coking coal mining. The company diversified into steel manufacturing (TMT bars) and wind power generation (87.5 MW capacity) in addition to its core coke business. At peak, revenue was Rs 567 crore. However, the company accumulated massive losses of Rs 427 crore and is currently under liquidation through the Insolvency and Bankruptcy Code (IBC) process administered by IBBI. The collapse of Gujarat NRE Coke was driven by overcapacity in the global coke market, declining steel demand affecting coke prices, high debt burden from Australian coking coal mining expansion, and currency losses on overseas investments. The company employed 522 workers and has been delisted from stock exchanges. All assets are being sold under the liquidation process to settle creditor claims.

Key Milestones

1986: Incorporated in West Bengal as Gujarat NRE Coke Limited

1990s: Established coke oven plants; grew to become a major met coke supplier in India

Common questions about unlisted shares

How do I buy Gujarat NRE Coke Limited unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

Gujarat NRE Coke Limited

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