Central Mine Planning and Design Institute IPO Update

The Central Mine Planning and Design Institute's initial public offering (IPO) received 10% subscription on the second day of the share sale on Monday. As per the data from the National Stock Exchange (NSE) till 12:15 pm, the company received bids for 77.18-lakh shares, against the total 7.97 crore shares on offer.

Subscription Breakdown

• The Retail Individual Investors (RIIs) category received 14% subscription.
• The quota meant for non-institutional investors got subscribed 7%.
• The company had earlier mobilized Rs 470 crore from anchor investors as part of the IPO.

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IPO Details

• The Rs 1,842-crore IPO will conclude on March 24.
• The price band has been fixed at Rs 163-172 per share, valuing the company at around Rs 12,280 crore at the higher end.
• According to grey market platforms, the shares of Central Mine Planning and Design Institute are commanding a flat GMP (Grey Market Premium) in the unofficial market.

Allotment and Listing

• The CMPDIL IPO allotment is expected by March 25.
• The share listing is proposed on March 30.

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About the Company

• CMPDIL was incorporated in 1975 as a wholly-owned subsidiary of Coal India.
• The company offers consultancy and support services for the entire spectrum of coal and mineral exploration, as well as mine planning and design services.
• Its services also include infrastructure engineering, environmental management, geomatics, specialised technology services, and management systems, primarily for the coal industry and other minerals.