Coal India Subsidiary Sees Significant Dip After IPO

Shares of CMPDIL Decline Over 10% on Listing​

Initial Trading and Price Decline​

Shares of Central Mine Planning & Design Institute Ltd (CMPDIL), a subsidiary of state-owned Coal India, experienced a significant discount on its debut trading session on Monday. The stock commenced trading at ₹162.80, representing a 5.34 percent decrease from the ₹172 issue price on the BSE. Throughout the day, the price continued to decline, reaching a low of ₹152.30, a drop of 11.45 percent. The stock ultimately closed at ₹154.05, reflecting a 10.43 percent discount to the issue price.

NSE Listing and Closing Price​

At the National Stock Exchange (NSE), CMPDIL listed at ₹160, marking a 6.97 percent discount to the issue price. The stock closed at ₹154.06, experiencing a 10.43 percent decline.

Market Valuation​

As of Monday’s close, the company’s market capitalization stood at ₹10,999.17 crore.

IPO Details​

The initial public offering (IPO) for CMPDIL was fully subscribed. The ₹1,842-crore IPO, conducted with a price band of ₹163-₹172 per share, involved an offer for sale (OFS) of 10.71 crore shares by Coal India. The IPO was an all-offer for sale, with no fresh issue component.

Company Overview​

CMPDIL, established in 1975 as a wholly-owned subsidiary of Coal India, provides consultancy and support services spanning coal and mineral exploration, mine planning and design, infrastructure engineering, environmental management, geomatics, specialized technology services, and management systems. These services are primarily focused on the coal industry and other minerals.