Central Mine Planning and Design Institute ₹1,842-cr IPO to Open on Mar 20, Price at ₹163-172

Central Mine Planning and Design Institute (CMPDIL), an arm of state-owned Coal India, on Monday said its ₹1,842-crore initial public offering (IPO) will open for subscription on March 20.

The price band has been fixed at ₹163 to ₹172 per share, valuing the company at around ₹12,280 crore at the higher end, the company announced.

The issue will be entirely an offer for sale (OFS) of 10.71 crore shares, worth ₹1,842.12 crore at the upper end, by Coal India, with no fresh issue component.

The company's maiden public offering will conclude on March 24. Bidding for anchor investors will take place on March 18. The state-owned firm will make its stock market debut on March 30.

CMPDIL was incorporated in 1975 as a wholly-owned subsidiary of Coal India. It offers consultancy and support services for the entire spectrum of coal and mineral exploration, as well as mine planning and design services.

Its services also include infrastructure engineering, environmental management, geomatics, specialized technology services, and management systems, primarily for the coal industry and other minerals..

On the financial front, its revenue from operations was ₹2,103 crore and net profit at ₹667 crore during FY25.

The company said that half of the issue size has been reserved for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional buyers.

IDBI Capital Markets and Securities and SBI Capital Markets are the book-running lead managers for the public issue.

Earlier, Bharat Coking Coal (BCCL), another subsidiary of Coal India, came out with its ₹1,071-crore IPO in January.