Central Mine Planning & Design Institute IPO is all set to make its stock market debut on Monday, March 30. The shares of Central Mine will list on both BSE and NSE.
The IPO was subscribed 1.05 times by the end of Day 3. The QIB segment was subscribed the most at 3.48 times, while the retail individual investors’ portion saw a subscription of 33%. The non-institutional investor (NII) category was subscribed 35%, and the employee and shareholder quotas were booked 21% and 36%, respectively. The Central Mine Planning IPO received bids for 8,37,13,200 shares against a total offer size of 7,97,89,500 shares.
Central Mine Planning provides consultancy and support services across coal and mineral exploration, as well as mine planning and design. Its offerings also extend to infrastructure engineering, environmental management, geomatics, specialised technology solutions, and management systems, with a core focus on the coal and mining industry.
Central Mine IPO GMP ahead of listing
The GMP of Central Mine IPO signals a muted listing on Monday. The shares of Central Mine IPO were trading at a premium of ₹8 in the grey market, according to websites tracking grey market trends.
Central Mine Planning IPO GMP of ₹8 means that the estimated listing price will be ₹180, which is 4.65% higher than the IPO price of ₹172.
Central Mine IPO details
The ₹1,842-crore IPO was priced in the range of ₹163 to ₹172 per share, valuing the company at ₹12,280 crore at the upper end of the price band.
Central Mine Planning IPO comprised entirely an offer-for-sale (OFS) of 10.71 crore shares by Coal India, with no fresh issue component. Investors could bid in lots of 80 shares, translating to a minimum investment of ₹13,760 at the upper price band.
Ahead of the issue, the Coal India subsidiary had mobilised ₹470 crore from anchor investors last Wednesday.
IDBI Capital Markets & Securities and SBI Capital Markets acted as the book-running lead managers, while KFin Technologies was appointed as the IPO registrar.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
