The initial public offering of Central Mine Planning and Design Institute witnessed 72 per cent or 0.72 times subscription as of 3.18 pm on the final day of bidding,
The qualified institutional buyers (QIB) segment was subscribed 2.21 times, while non-institutional investors subscribed 0.30 times of their allotted portion. The retail investor segment saw a subscription of 0.28 times, whereas the employee and shareholder categories were subscribed 0.16 times and 0.31 times, respectively.
The ₹1,842-crore IPO is priced in the range of ₹163 to ₹172 per share. At the upper end of the price band, the company is valued at approximately ₹12,280 crore. The public issue is entirely an offer for sale comprising 10.71 crore equity shares by parent Coal India Ltd, with no fresh issue component.
Ahead of the public issue, the company mobilised ₹470 crore from anchor investors. Prominent domestic institutional participants included Life Insurance Corporation of India, Nippon India Mutual Fund, Edelweiss Mutual Fund and ICICI Prudential Mutual Fund, along with General Insurance Corporation of India and Edelweiss Life Insurance. Global institutions such as Societe Generale, Citigroup, Goldman Sachs and BNP Paribas also participated in the anchor round.
CMPDI is scheduled to make its stock market debut on March 30. IDBI Capital Markets & Securities and SBI Capital Markets are the book-running lead managers to the issue.
Incorporated in 1975 as a wholly owned subsidiary of Coal India, CMPDI provides consultancy and support services across coal and mineral exploration, mine planning and design, infrastructure engineering and environmental management.