New Delhi, March 20 The initial public offering of Central Mine Planning and Design Institute Ltd, a subsidiary of state-owned Coal India, received subscriptions worth 7 per cent on the first day of the share sale on Friday.
According to NSE data, the IPO received bids for 52,44,320 shares, compared to the 7,97,89,500 shares on offer.
The category for Retail Individual Investors (RIIs) received 10 per cent subscription, while the quota for non-institutional investors received 5 per cent subscription.
Central Mine Planning and Design Institute (CMPDIL) announced on Wednesday that it had raised Rs 470 crore from anchor investors.
CMPDIL's Rs 1,842-crore initial public offering (IPO) will conclude on March 24.
The price band has been set at Rs 163-172 per share, valuing the company at around Rs 12,280 crore at the higher end, the company announced.
The issue will be entirely 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 fresh issue component.
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, specialised technology services, and management systems, primarily for the coal industry and other minerals.
IDBI Capital Markets and Securities and SBI Capital Markets are the lead managers for the public issue.
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