CMPDI IPO Day 1: Check subscription status, price band, lot size and key dates

CMPDI IPO: The initial public offering of Coal India's unit Central Mine Planning and Design Institute (CMPDI) opened for subscription on Friday, March 20. The issue, which has set a price band of ₹163 to ₹172 per share, will end on March 24.

The issue seeks to raise ₹1,842.12 crore entirely through an offer for sale (OFS) of 10.71 crore shares. There is no fresh issue component.

"Our company expects that listing of the equity shares will enhance our visibility and brand image and provide liquidity and a public market for the equity shares in India," the firm said in its red herring prospectus (RHP).

CMPDI IPO Day 1: Subscription status

The issue has been subscribed 1% so far on the first day, with bids for 10,08,160 shares as against 7,97,89,500 shares on offer, according to the NSE data until 10:42 am.

CMPDI IPO: Lot size

Investors can apply for a minimum of one lot, consisting of 80 shares, and multiples thereof.

The company has reserved 50% of the net offer for qualified institutional buyers (QIBs), 35% for retail investors and 15% for non-institutional investors (NIIs).

Before the IPO, the company raised ₹469.74 crore in the anchor round from investors including Life Insurance Corporation of India (LIC), ICICI Prudential Mutual Fund (MF), Nippon India MF, Edelweiss MF, Edelweiss Life Insurance Company, Baring Private Equity India Fund, General Insurance Corporation of India, Goldman Sachs, Societe Generale, Citigroup, and BNP Paribas Financial.

CMPDI IPO: Allotment date and time

CMPDI, incorporated as a wholly owned unit of Coal India in 1975, is engaged in providing consultancy and support services for the complete spectrum of coal and mineral exploration and mine planning and design services.

CMPDI IPO GMP

The unlisted shares of Central Mine Planning and Design Institute, according to investorgain.com and media reports, are trading at ₹176, reflecting a grey market premium, or GMP, of 2.33% or ₹4 compared to the upper price band of ₹172.