Central Mine Planning and Design Institute IPO GMP Surges to 13% Days Ahead of Issue Opening

Central Mine Planning and Design Institute IPO GMP

Key Figures

• IPO Size: Rs 1,842 crore
• Price Band: Rs 163 to Rs 172 per share
• Valuation: Rs 12,280 crore (higher end)
• Grey Market Premium (GMP): 13%
• Listing Gain: 12.79%

IPO Details

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The Central Mine Planning and Design Institute (CMPDIL), an arm of state-owned Coal India, is set to launch its initial public offering (IPO) on March 20. The IPO will conclude on March 24 with bidding for anchor investors taking place on March 18. The company is expected to make its stock market debut on March 30.

Company Background

CMPDIL was incorporated in 1975 as a wholly-owned subsidiary of Coal India. The company offers a range of services, including consultancy and support services for coal and mineral exploration, mine planning and design services, infrastructure engineering, environmental management, geomatics, specialized technology services, and management systems primarily for the coal industry and other minerals.

IPO Allocation

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Half of the issue size has been reserved for qualified institutional buyers, 35% for retail investors, and the remaining 15% for non-institutional buyers.

Previous IPO

In January, Bharat Coking Coal (BCCL), another subsidiary of Coal India, launched a Rs 1,071-crore IPO.