Central Mine Planning IPO GMP Declines Ahead of Listing on Friday: Key Details Unveiled

Central Mine Planning IPO GMP Declines Ahead of Issue Opening

Central Mine Planning and Design Institute (CMPDIL), a subsidiary of Coal India, has seen its Grey Market Premium (GMP) decline ahead of its initial public offering (IPO) opening on Friday.

According to platforms tracking grey market activities, the shares of CMPDIL are commanding a GMP of approximately 2% in the unofficial market. Investorgain quoted a GMP of Rs 4 for the shares of the company, indicating a listing gain of 2.33%. IPO Watch also quoted a GMP of 2.33%.

The price band for CMPDIL's maiden public offering has been fixed at Rs 163 to Rs 172 per share, valuing the company at around Rs 12,280 crore at the higher end.

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The company's IPO will conclude on March 24, with CMPDIL shares expected to make their stock market debut on March 30.

CMPDIL, incorporated in 1975, 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, specialized technology services, and management systems, primarily for the coal industry and other minerals.

In a similar development, Bharat Coking Coal (BCCL), another subsidiary of Coal India, successfully completed its Rs 1,071-crore IPO in January.