New Delhi, March 30 Shares of Central Mine Planning & Design Institute Ltd, a subsidiary of state-owned Coal India, closed on Monday with a discount of over 10 percent against the issue price of ₹172.
The stock started trading at ₹162.80, down 5.34 percent from the issue price on the BSE. During the day, it fell by 11.45 percent to ₹152.30. Shares of the company later closed at ₹154.05, down 10.43 percent.
At the NSE, the stock listed at ₹160, registering a discount of 6.97 percent. It finally closed at ₹154.06, a decline of 10.43 percent.
The company's market valuation stood at ₹10,999.17 crore.
The initial public offering (IPO) of Central Mine Planning & Design Institute Ltd was fully subscribed on the last day of bidding on Tuesday last week.
The ₹1,842-crore IPO had a price band of ₹163-₹172 per share.
The entire IPO was an offer for sale (OFS) of 10.71 crore shares, worth ₹1,842.12 crore at the upper end, by Coal India, with no fresh issue component.
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.