CMPDI IPO sets price band at ₹163 to ₹172 per share; check lot size, key dates and more

CMPDI IPO: State-owned Coal India's arm, Coal Central Mine Planning and Design Institute (CMPDI), has set a price band of ₹163 to ₹172 per share. The issue is open for subscription from March 20 to March 24. The bidding for anchor investors will occur on March 18.

The ₹1,842.12 crore initial share sale is only an offer for sale (OFS) of 10,71,00,000 equity shares by Coal India. Since there is no fresh issue component, the company will not get any proceeds from the issue.

In its red herring prospectus (RHP), the company said, "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."

Coal Central Mine Planning and Design Institute IPO: Lot size

A lot consists of 80 shares and multiples thereof. Half of the net offer valued at ₹782.90 crore is reserved for qualified institutional buyers (QIBs), 35% of the offer worth ₹548.03 crore is set aside for retail investors and 15% of the offer, aggregating to ₹234.87 crore, is reserved for non-institutional buyers.

CMPDI IPO: Allotment and listing date

• Finalisation of allotment: March 25
• Initiation of refunds: March 27
• Credit of shares to Demat account: March 27
• Listing on the NSE and the BSE: March 30

Coal Central Mine Planning and Design Institute provides its consultancy services to Coal India and its subsidiaries in the areas of coal exploration, coal beneficiation and utilisation, mine planning & design, allied engineering services, information and communication technology, environmental engineering, laboratory services, and field services.

SBI Capital Markets and IDBI Capital Markets and Securities are the book-running lead managers to the public issue, while KFin Technologies is the registrar.

In January this year, Bharat Coking Coal (BCCL), another subsidiary of Coal India Ltd, had launched its ₹1,071-crore IPO.

CMPDI IPO GMP

According to investorgain.com and media reports, CMPDI's unlisted shares are trading at ₹191, reflecting a grey market premium (GMP) of 11.05% or ₹19 compared to the upper price band of ₹172.