Coal India unit Central Mine Planning IPO subscribed 7% on first day of share sale - Check GMP, other key details

Central Mine Planning IPO sees robust subscription in primary market. 

• CMPDIL IPO subscribed 4 percent on first day of share sale
• IPO price band set at Rs 163-172 per share
• CMPDIL IPO listing expected on March 30

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Central Mine Planning and Design Institute (CMPDIL) IPO got subscribed 7 percent on the first day of its share sale in the primary market.

The Rs 1,842-crore IPO got 52.44-lakh bids against 7.97-crore bids on offer, according to the NSE data. The Non Institutional Investors (NII) portion got booked 5 percent so far, while Retail Individual Investors(RIIs) saw 10 percent subscription.

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 subsidiary of country's largest coal miner Coal India, raised Rs 469.74 crore from 22 anchor investors on March 19.

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Central Mine Planning and Design Institute IPO GMP Today Price

According to platforms tracking the grey market activities, the shares of the company are commanding a GMP of more than 2 percent in the unofficial market. Investorgain quoted a GMP of Rs 4.25 for the shares of the company, indicating a listing gain of 2.47 percent, while IPO Watch quoted a GMP of 2.33 percent. The company's maiden public offering will conclude on March 24.

Gaurav Garg, Research Analyst at Lemonn Markets Desk, noted, "With solid return ratios (RoE 36.7%) and stable cash flows, CMPDIL stands well-positioned within the PSU ecosystem. While it remains largely aligned with the coal sector, ongoing diversification efforts add to its long-term potential. Overall, the IPO appears fairly priced and offers a stable opportunity for investors seeking consistent and relatively predictable returns."

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..

Central Mine Planning IPO allotment is expected by March 25, while share listing is proposed on March 30.

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