CMPDIL’s IPO opens today

New Delhi: Central Mine Planning and Design Institute (CMPDIL), an arm of state-owned Coal India, said it has mobilised Rs 470 crore from anchor investors, ahead of its initial share-sale opening for public subscription.

CMPDIL’s Rs 1,842-crore initial public offering (IPO) will open for subscription on March 20 and conclude on March 24. The price band has been fixed at Rs 163 to Rs 172 per share, valuing the company at around Rs 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 Rs 1,842.12 crore at the upper end, by Coal India, with no fresh issue component.

Life Insurance Corporation (LIC), Nippon India Mutual Fund (MF), Edelweiss MF, ICICI Prudential MF, Baring Private Equity India Fund, General Insurance Corporation of India and Edelweiss Life Insurance Corporation are among the anchor investors, according to a circular uploaded on BSE’s website.

Also, Societe Generale, Citigroup, Goldman Sachs and BNP Paribas Financial Markets participated in the anchor round.