New Delhi, March 13 – Coal India's Central Mine Planning and Design Institute (CMPDIL), a state-owned entity, is preparing to launch its Initial Public Offering (IPO) on March 20.
The company's first public offering will conclude on March 24, while bidding for anchor investors will take place on March 18, according to the red herring prospectus (RHP).
The issue will be entirely an offer for sale (OFS) of 10.71 crore shares by Coal India, with no new issuance component.
CMPDIL provides consultancy services to CIL and its subsidiaries in areas such as coal exploration, mine planning & design, coal beneficiation and utilization, allied engineering services, environmental engineering, information and communication technology, laboratory services, and field services.
IDBI Capital Markets and Securities and SBI Capital Markets are the lead managers for the public issue.
Earlier, Bharat Coking Coal (BCCL), another subsidiary of Coal India, had launched its Rs 1,071-crore IPO in January.