CMPDI IPO Day 2 LIVE: The initial public offering of the Central Mine Planning and Design Institute Ltd, which is a subsidiary of the state-controlled Coal India, was 7% subscribed on its first day of the share sale on Friday, March 20.
The ₹1,842-crore Central Mine Planning IPO is set to close on March 24.
As per market experts, CMPDI IPO GMP is at ₹1.5. Considering the upper end of the IPO price band and the current premium in the grey market, 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.
CMPDI IPO price band is set between ₹163-172 each, which values the company at approximately ₹12,280 crore at the upper price limit, as announced by the company.
The offering will consist entirely of an offer-for-sale (OFS) of 10.71 crore shares, amounting to ₹1,842.12 crore at the higher price point, by Coal India, with no new issue component involved.
CMPDIL was established in 1975 as a fully-owned subsidiary of Coal India.
It provides consultancy and support services covering all aspects of coal and mineral exploration, in addition to mine planning and design services.
(Stay tuned for more updates)
