New Delhi, March 16 The Central Mine Planning and Design Institute (CMPDIL), a subsidiary of state-owned Coal India, announced on Monday that its initial public offering (IPO), worth Rs 1,842 crore, will open for subscription on March 20.
The price band has been set 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 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 issuance component.
The company's maiden public offering will conclude on March 24. Bidding for anchor investors will take place on March 18. The state-owned firm will make its stock market debut on March 30.
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.
On the financial front, 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 has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional buyers.
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, came out with its Rs 1,071-crore IPO in January.