New Delhi, March 18 The Central Mine Planning and Design Institute (CMPDIL), a subsidiary of state-owned Coal India, announced on Wednesday that it has raised Rs 470 crore from anchor investors ahead of its initial public offering (IPO) for public subscription.
Life Insurance Corporation of India (LIC), Nippon India Mutual Fund (MF), Edelweiss MF, ICICI Prudential MF, Baring Private Equity India Fund, General Insurance Corporation of India, and Edelweiss Life Insurance Company are among the anchor investors, according to a circular uploaded on the BSE website.
Societe Generale, Citigroup, Goldman Sachs, and BNP Paribas Financial Markets also participated in the anchor round.
According to the circular, the state-owned firm has allotted 2.73 crore equity shares to 22 funds at Rs 172 per share, totaling Rs 469.74 crore.
Of these funds, LIC has been allocated shares worth Rs 105 crore.
CMPDIL's Rs 1,842-crore IPO will open for subscription on March 20 and close on March 24.
The price band has been set at Rs 163-172 per share, valuing the company at around Rs 12,280 crore at the higher end, the company announced.
The entire IPO will be an offer for sale (OFS) of 10.71 crore shares, worth Rs 1,842.12 crore at the higher end, by Coal India, with no new 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.
In terms of finances, 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 is reserved for qualified institutional buyers, 35 per cent for retail investors, and the remaining 15 per cent for non-institutional buyers.
The state-owned firm will make its stock market debut on March 30.
IDBI Capital Markets and Securities and SBI Capital Markets are the book-running lead managers for the public issue.
Earlier, Bharat Coking Coal (BCCL), another subsidiary of Coal India, launched its Rs 1,071-crore IPO in January.