CMPDI IPO Update: Subscription Levels and Market Performance After First Day
Central Mine Planning and Design Institute Ltd (CMPDI) IPO Update
The initial public offering (IPO) of Central Mine Planning and Design Institute Ltd, a subsidiary of Coal India, saw a 7% subscription on its first day, March 20. The IPO, which is set to close on March 24, aims to raise ₹1,842 crore through the sale of 10.71 crore shares.
The IPO price band is set between ₹163-172 per share, valuing the company at approximately ₹12,280 crore at the upper price limit. The estimated listing price of Central Mine Planning & Design Institute shares is indicated as ₹173.5 apiece, which is 0.87% higher than the IPO price of ₹172. The current grey market premium (GMP) is ₹1.5.
CMPDI, established in 1975, provides consultancy and support services covering all aspects of coal and mineral exploration, in addition to mine planning and design services. The offering will consist entirely of an offer-for-sale (OFS) of 10.71 crore shares by Coal India, with no new issue component involved.
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Investor Takeaway
Monitor the CMPDI IPO's listing price and market performance after the first day.
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