Central Mine Planning Lists at 7% Discount to IPO Price

Central Mine Planning & Design Institute (CMPDI) IPO Listing Falls Short of Expectations

On March 30, CMPDI made its debut on the Indian stock market with a dull listing. The shares of the company listed at a 7% discount to the IPO price of ₹172, opening at ₹160 on the NSE and ₹162.80 on the BSE.

The listing was below market expectations, with an estimated listing price of ₹177, a 2.91% increase from the IPO price. Ahead of the debut, the GMP (Grey Market Premium) of the CMPDI IPO was ₹5.

The CMPDI IPO was open for subscription from March 20 to March 24, with the IPO allotment finalized on March 25. The issue was subscribed 1.05 times, with the Retail Individual Investors (RIIs) segment seeing a 33% subscription and the Non-Institutional Investors (NIIs) portion booked 35%. The Qualified Institutional Buyers (QIBs) category was subscribed 3.48 times.

Read also: SpaceX Seeks Record $75 Billion IPO, Potentially Positioning Elon Musk as the World's First Trillionaire

The company will not receive any financial proceeds from the public offering, as all funds raised will be transferred directly to Coal India, a subsidiary of CMPDI. The company had mobilized ₹470 crore from anchor investors last Wednesday.

Key IPO Details

• IPO Price Band: ₹163 - ₹172 per share
• Issue Size: ₹1,842.12 crore
• Equity Shares Offered: 10.71 crore
• Book-Running Lead Manager: IDBI Capital Markets Services Ltd.
• Registrar: Kfin Technologies Ltd.

Company Overview

Read also: SMR Jewels IPO Successfully Lists with Institutional Support

CMPDIL was incorporated in 1975 as a wholly owned subsidiary of Coal India. The company offers consultancy and support services across the full spectrum of coal and mineral exploration, along with mine planning and design services.