Central Mine Planning IPO Day 1 Highlights: Central Mine Planning and Design Institute (CMPDIL), a subsidiary of state-owned Coal India, launched its initial public offering (IPO) on Friday, March 20.
As of 12.20 pm, Central Mine Planning IPO was booked 4%, suggesting a slow response for the offer. Investors can apply for the offer until Tuesday, March 24.
Central Mine Planning IPO, worth ₹1,842 crore, is priced at ₹163–172 per share, implying a valuation of about ₹12,280 crore at the upper end. The IPO is entirely an offer for sale (OFS) of 10.71 crore shares by Coal India, with no fresh issue component. It is the second offer by Coal India in 3 months, with the BCCL IPO launched in January.
The IPO allocation is structured with 50% reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors. CMPDIL is scheduled to list on the stock exchange on March 30.
Ahead of the offer launch, Central Mine Planning raised ₹470 crore from anchor investors on March 18.
Central Mine Planning IPO GMP
Central Mine Planning IPO GMP has declined significantly amid broader market weakness. Central Mine Planning IPO GMP today is ₹4.25, suggesting that shares are trading ₹2 above the offer price. At the current levels, Central Mine Planning IPO listing price could be 176, up 2.7%.
