IPO GMPs: The Indian IPO market continues to be active in March 2026, even in the face of volatility caused by crude prices and geopolitical tensions, with over 10 offerings (Mainboard/SME) lined up and robust subscription trends in the SME segment. While mainboard activity has slowed due to foreign institutional investor outflows, the average oversubscription rate for SMEs has reached 100 times, as per reports.
On the mainboard front, the initial public offering (IPO) of the Central Mine Planning & Design Institute (CMPDI), Coal India arm, is witnessing strong demand in the grey market. The CMPDI IPO’s grey market premium (GMP) has increased by more than 12% ahead of its launch this week (on Friday, March 20).
As per market experts, CMPDI IPO GMP is at ₹22. 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 ₹194 apiece, which is 12.79% higher than the IPO price of ₹172.
Based on the activities in the grey market over the last five sessions, the IPO’s GMP is currently on the rise and is anticipated to have a solid listing. The minimum GMP recorded is ₹19.00, while the maximum is ₹24, according to analysts.
CMPDI IPO price band has been fixed in the range of ₹163 to ₹172 per equity share of the face value of ₹2. CMPDI IPO date of subscription is from Friday, March 20, to Tuesday, March 24. The CMPDI IPO lot size is 80 equity shares.
The consultancy firm specializing in coal and minerals aims to raise ₹1,837.8 crore through an initial public offering, which values the company at ₹12,280.8 crore at the highest price point.
This IPO involves only the sale of 10.71 crore shares by Coal India, and no new shares will be issued.
The company will not gain any financial benefits from the public offering. All funds raised, after accounting for the costs associated with the offering, will be directed entirely to Coal India.
IDBI Capital Markets & Securities and SBI Capital Markets are serving as the merchant bankers for the IPO of the Central Mine Planning & Design Institute.
Skyways Air Services IPO
Talking about Skyways Air Services IPO, which was scheduled to open on March 18, appears to have been postponed according to market sources amid escalating global tensions. The grey market indicates that the GMP for Skyways Air Services is around ₹20, suggesting that the stock is trading at a premium of ₹20; however, it remains unclear what percentage of listing gains investors might anticipate since the company has not yet announced the Skyways Air Services IPO price band.
The primary share offering consists of a new issuance of 2.89 crore shares combined with an offer for sale (OFS) of 1.33 crore shares from promoters and existing shareholders.
The funds raised from the new issue will be allocated to repay certain outstanding debts of the company and its subsidiary, Forin Container Line Private Limited, to support additional working capital needs, and for general corporate purposes, according to reports.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
