CMPDIL Raises Rs 470 Crore from Anchor Investors Ahead of Rs 1,842 Crore IPO
Anchor Investors Back CMPDIL IPO with Rs 469.74 Crore Allocation
New Delhi, March 18Central Mine Planning and Design Institute (CMPDIL), a subsidiary of state-owned Coal India, has raised Rs 470 crore from anchor investors ahead of its initial public offering (IPO), according to a circular filed on the BSE.
The company allotted 2.73 crore equity shares to 22 anchor investors at Rs 172 per share, aggregating to Rs 469.74 crore. Among the key participants were Life Insurance Corporation of India, Nippon India Mutual Fund, Edelweiss Mutual Fund, ICICI Prudential Mutual Fund, Baring Private Equity India Fund, General Insurance Corporation of India, and Edelweiss Life Insurance Company.
Global financial institutions such as Societe Generale, Citigroup, Goldman Sachs, and BNP Paribas Financial Markets also took part in the anchor round. LIC alone was allocated shares worth Rs 105 crore.
CMPDIL IPO Details: Price Band, Dates, and Structure
The Rs 1,842 crore CMPDIL IPO will open for public subscription on March 20 and close on March 24. The price band has been fixed at Rs 163 to Rs 172 per share, valuing the company at approximately Rs 12,280 crore at the upper end.The entire issue is an offer for sale of 10.71 crore equity shares by Coal India, with no fresh issue component included.
Investor Allocation and Listing Timeline
As per the company, 50 percent of the issue is reserved for qualified institutional buyers, 35 percent for retail investors, and 15 percent for non-institutional investors.CMPDIL is scheduled to debut on the stock exchanges on March 30.
About CMPDIL: Business Operations and Financial Performance
Incorporated in 1975, CMPDIL operates as a wholly-owned subsidiary of Coal India. The company provides consultancy and support services across coal and mineral exploration, along with mine planning and design.Its service portfolio includes infrastructure engineering, environmental management, geomatics, specialized technology services, and management systems, primarily catering to the coal and mining sectors.
For FY25, CMPDIL reported revenue from operations of Rs 2,103 crore and a net profit of Rs 667 crore.
Lead Managers for CMPDIL IPO
IDBI Capital Markets and Securities, along with SBI Capital Markets, are acting as the book-running lead managers for the issue.Earlier this year, another Coal India subsidiary, Bharat Coking Coal, had launched its Rs 1,071 crore IPO in January.
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