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Caliber Mining & Logistics Limited
146.09xsubscribed

Caliber Mining & Logistics Limited

Logistics
listed
₹14,070Min. investment

Caliber Mining & Logistics Limited IPO Details

SectorLogistics
Price range₹402 – ₹424
IPO type
Regular
Lot size35 shares
Issue size₹450Cr
Red Herring Prospectus
Read
Market cap
₹2,771CrHigher than sector avg
RevenueApr 2025 - Mar 2026
₹1,677CrHigher than sector avg
Growth rate3Y CAGR
32.60%Higher than sector avg

Caliber Mining & Logistics Limited Subscription Status

Date
QIB
NII
Retail
Total
17-Jul-26
0.0 times (X)
1.6 times (X)
1.62 times (X)
1.24 times (X)
20-Jul-26
0.69X
68.87X
16.0X
23.31X
21-Jul-26
152.68X
263.21X
40.42X
146.09X

As on 17-Jul-26, 6:31 PM

Caliber Mining & Logistics Limited Timeline

  1. Pre-apply
    15 Jul 2026
  2. Bid start
    17 Jul 2026
  3. Bid end
    21 Jul 2026
  4. Allotment
    22 Jul 2026
  5. Release of funds
    23 Jul 2026
  6. Demat transfer
    23 Jul 2026
  7. Listing
    24 Jul 2026

About Caliber Mining & Logistics Limited

Caliber Mining and Logistics is an end-to-end mining and logistics service provider. The company undertakes overburden removal, coal extraction, coal loading and unloading, road transportation, and coordinates rail transportation for its customers. It owned a fleet of 1,911 vehicles, plants and machinery, including 100 leased assets as of April 30, 2026. Its fleet comprised 883 tippers, 64 loaders, 162 excavators and 362 tip trailers.
The company’s mining operations are spread across Maharashtra, Madhya Pradesh and Chhattisgarh. While it operates several mines, it does not own any of them. Most of its work comes from subsidiaries of Coal India Limited, mainly Western Coalfields Limited (WCL) and Northern Coalfields Limited (NCL). The order book stood at ₹9,550.89 crore as of May 15, 2026.
The company operates across five business segments: coal mining services, logistics, rake loading, rail coordination services and coal trading. Coal mining services include coal extraction and overburden removal under contract for WCL, NCL and private companies. The logistics business covers loading, unloading and road transportation of coal and iron ore. The company loads coal onto railway rakes through its rake loading business, while its rail coordination business helps customers manage coal movement through Indian Railways. It also trades coal by purchasing and selling it in the domestic market.
Coal mining services have become the company's largest business. In FY26, this segment contributed ₹1,444.17 crore or 86.1% of revenue from operations, compared with 69.4% in FY24, followed by Logistics at 12.44% or ₹208.67 crore revenue in FY26, down from 27.8% in FY24. The remaining revenue came from rake loading, rail coordination and coal trading.
The company operated at ten contract sites across Maharashtra and Madhya Pradesh as of the date of the RHP. Its customers at these sites include WCL, NCL and Adani Power. Mining work at the Parsa mine for Adani Power has remained suspended since September 1, 2023. The company extracted 0.46 million MT of coal and removed 13.59 million cubic meters (Mcum) of overburden during the one month ended April 30, 2026. It extracted 4.48 MMT of coal and removed 128.07 Mcum of overburden across 7 open-cast mines in FY26. Overburden removal increased by 88.18% between FY24 and FY26. The company entered the logistics business in FY16 by providing coal loading, unloading and road transportation services. It expanded into iron ore logistics in FY23. The company transported 8.50 MT of coal and 0.07 MT of iron ore by road. It also loaded 11.37 MT of coal onto railway rakes during FY26. Its rake loading business involves loading coal onto railway wagons using its own equipment and inspecting and cleaning wagons to reduce coal pilferage. The company assists power plants that purchase coal from Coal India subsidiaries by coordinating rake allocation, rake placement, loading and weighment with Indian Railways through its rail coordination services.
The company served 49 customers in FY26, compared with 39 in FY24. Coal India subsidiaries contributed 85.11% of revenue from operations in FY26, up from 62.6% in FY24. WCL and NCL together accounted for 98.87% of revenue generated from coal extraction and overburden removal during FY26. Major logistics customers include KSR Freight Carriers, which is a related party, GMR Warora Energy Limited and Dhariwal Infrastructure Limited.
Contract mining is becoming increasingly important in India's coal sector. Under the Mine Developer-cum-Operator (MDO) model, Coal India and other mine owners outsource mine development and operations to private contractors. In FY25, CIL outsourced around 63% of coal mining and 89% of overburden removal to private contractors. These shares are expected to increase to around 70% and 94%, respectively, by FY30 as CIL works towards its 1 BT production target. The contract mining opportunity is expanding rapidly. Outsourced coal extraction is expected to increase from around 523 MT in FY25 to 888 MT by FY30, representing a CAGR of 11.2%. During the same period, outsourced overburden removal is projected to rise from 2,154 Mm³ to 4,312 Mm³.
In value terms, the total addressable contract mining market, including coal extraction and overburden removal, was estimated at ₹29,729 crore in FY25 and is expected to grow to ₹66,393 crore by FY30, implying a CAGR of 17.4%. Overburden removal is expected to account for 78% of the market by FY30, while coal mining will contribute the remaining 22%. CIL-related contracts are expected to remain the largest opportunity, accounting for around 85% of the coal contract mining market and 83% of the overburden removal market by FY30.
The company plans to expand its logistics business further, particularly in iron ore transportation. The company transported 0.24 MT of iron ore in FY24, no iron ore in FY25 and 0.07 MT in FY26. In addition, the company is looking to expand into Odisha and Jharkhand by participating in new mining tenders, while continuing to strengthen its presence in Maharashtra, which contributed 55.48% of FY26 revenue, as well as Madhya Pradesh and Chhattisgarh. Since Caliber operates as an integrated mining contractor with expertise in coal extraction, overburden removal and logistics and already has strong relationships with Coal India subsidiaries, it is well placed to benefit from the expanding contract mining opportunity over the coming years.
Now, Caliber Mining & Logistic is launching its initial public offering (IPO), which consists of a fresh issue of ₹400 crore and an offer for sale of ₹50 crore only. The total issue size of the IPO is ₹450 crore. Its shares will be listed on the NSE and BSE.

How to pre-apply for Caliber Mining & Logistics IPO?

You can pre-apply for Caliber Mining & Logistics IPO on Upstox. The pre-application for this IPO, which means the pre-apply open date, usually begins a day before the IPO opens for subscription.
Follow these steps to pre-apply for the IPO:
  • Login to your Upstox account, using your six-digit PIN
  • After successfully logging in, click on ‘Discover’
  • On the Discover tab, you will find the ‘Invest in IPO’ section
  • Under the Invest in IPO section, look for the ‘Caliber Mining & Logistics IPO’ tab and click on it
  • Now fill in all the required information, like ‘bid price’ and ‘lot size’
  • Confirm and click on ‘Pre-Apply’
  • Accept the mandate on your UPI app

How to apply for Caliber Mining & Logistics IPO?

If you are interested in this investment opportunity but unsure how to apply for Caliber Mining & Logistics IPO, here are the steps that you need to follow.
When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for Caliber Mining & Logistics IPO on Upstox:
  • Log in to your Upstox account, using your six-digit PIN
  • After logging in, click on ‘Discover’
  • On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section
  • Under the Invest in IPO section, look for the ‘Caliber Mining & Logistics IPO’ tab and click on it
  • Now fill in all the required information, like ‘bid price’ and ‘lot size’
  • Confirm and click on ‘Apply’
  • Accept the mandate on your UPI app

**How to check the Caliber Mining & Logistics IPO allotment status? **

When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally completed on the next working day after an IPO closes.
Here’s a step-by-step guide on how to check the Caliber Mining & Logistics IPO allotment status:
  • Login to your Upstox account, using your six-digit PIN
  • After logging in, click on ‘Discover’
  • On the ‘Discover’ page, you will find the ‘Invest in IPO’ section
  • Under the Invest in IPO section, you will find the ‘View all’ option
  • Once you click on ‘View all’, you will be directed to the ‘IPO’ tab
  • In the ‘IPO’ tab, click on ‘My applications’
  • In ‘My applications’, under the History section, your Caliber Mining & Logistics IPO allotment status will be mentioned

Caliber Mining And Logistics Limited IPO Analysis

IPO REVIEW

Caliber Mining & Logistics Limited | Analysis Video

Should you apply?

Watch our analysts break down the Caliber Mining And Logistics Limited IPO — business model, financials, valuation and key risks — to help you decide whether to apply. The video covers the IPO price band, important dates, and what the subscription numbers mean for retail investors.

Checklist

Quality analysis
Revenue growth
Company valuation
Earnings expansion
Risk analysis
Debt to Equity ratio
Promoter holdings
Shares pledged
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

Strength and Weakness

Integrated coal mining and logistics company

The company offers integrated operations from mining, overburden removal and logistics with a large number of owned assets and strong topline growth.

Efficient cost control

The advanced fuel and maintenance facilities help in keeping the biggest cost centres, fuel and maintenance expenses, under check.

Good order book from Coal India subsidiaries

The near-total dependence of revenue on WCL/NCL contracts is balanced by an order book worth ₹9,550.89 crore for multiple years.

Expert promoters and managers

A 5-member promoter family has distinct functional responsibilities and a managerial group of 312 people.

Objectives of Caliber Mining And Logistics Limited IPO

Repayment of debts
52.10%
The company will use ₹208 crore of funds for repayment of borrowings.
Funding capital Expenditures
41.70%
The company will use ₹167 crore to purchase commercial vehicles, plant and machinery.
General corporate purposes
6.20%
Part of the IPO proceeds will be used for general corporate purposes and issue expenses

Compare

CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio
This IPO₹1,677Cr32.60%₹157.9Cr₹2,771Cr14.391.63
This sector (avg.)₹711.28Cr0.02%-₹13.78Cr₹1,677.75Cr34.350.59
₹8,887.02Cr---₹1,291.84Cr₹38,252.26Cr31.230.07
₹6,763.79Cr---₹787.42Cr₹25,640.55Cr35.750.99
₹426.73Cr----₹38.28Cr₹10,164.42Cr29.860.03

*Revenue for financial year 2025-26. Lower P/E and D/E ratios are generally preferred.

Caliber Mining & Logistics Limited Contact Details

Company NameCaliber Mining & Logistics Limited

How to apply for Caliber Mining & Logistics Limited?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Caliber Mining And Logistics Limited IPO FAQs

Investors can apply for the Caliber Mining & Logistics Limited through their Demat account via the stock exchange or through their broker.
The issue size of the Caliber Mining & Logistics Limited is 450 Cr.
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Caliber Mining & Logistics Limited will be open between 2026-07-17 and 2026-07-21.
Caliber Mining & Logistics Limited allotment date is 2026-07-23. For Caliber Mining & Logistics Limited allotment status check, you can visit the website of the registrar of the IPO.
For Caliber Mining & Logistics Limited, the IPO registrar is KFin Technologies Limited. You can check Caliber Mining & Logistics Limited allotment status on the website of the registrar.
The shares are proposed to be listed on the BSE and NSE.
The Caliber Mining & Logistics Limited shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.
The Caliber Mining & Logistics Limited lot size is 35 and minimum order quantity is 35.
Caliber Mining & Logistics Limited has set the price band for its IPO at 424 per equity share with a face value of 10.