CMPDIL’s Rs 1,842-cr IPO opens on Friday

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

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 Rs 2,103 crore and net profit at Rs 667 crore during FY25. The company said that half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional buyers.