Central Mine Planning & Design Institute share price made a dull debut in the Indian stock market on Monday, March 30. The shares of Central Mine Planning listed at 7% discount to the IPO price of ₹172.
share price opened at ₹160 on NSE and ₹162.80 on BSE on Monday. This means that the IPO allottees made a loss of 7% over the Central Mine Planning & Design Institute IPO (CMPDI IPO) listing.
The listing of the CMPDI IPO came in below the market expectations. Ahead of the debut, the GMP of CMPDI IPO was ₹5. The estimated listing price was ₹177, which is 2.91% higher than the IPO price.
Central Mine Planning & Design Institute IPO
was open for subscription from March 20 to March 24, while the IPO allotment was finalised on March 25.
The IPO price band was fixed at ₹163– ₹172 per share, and the company raised ₹1,842.12 crore through the book-building issue, which comprised entirely an offer-for-sale (OFS) of 10.71 crore equity shares.
Overall, the issue was subscribed 1.05 times, according to NSE data. The Retail Individual Investors (RIIs) segment saw 33% subscription, while the Non-Institutional Investors (NIIs) portion was booked 35%. The Qualified Institutional Buyers (QIBs) category was subscribed 3.48 times.
The company will not receive any financial proceeds from the public offering, as all funds raised—excluding issue-related expenses—will be transferred directly to Coal India.
Ahead of the offering, the Coal India subsidiary had mobilised ₹470 crore from anchor investors last Wednesday.
IDBI Capital Markets Services Ltd. acted as the book-running lead manager, while Kfin Technologies Ltd. served as the registrar for the .
CMPDIL was incorporated in 1975 as a wholly owned subsidiary of Coal India. The company offers consultancy and support services across the full spectrum of coal and mineral exploration, along with mine planning and design services.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.