News

Central Mine Planning & Design Institute share price made a dull debut in the Indian stock market on Monday, March 30. The shares of Central Mine Planning listed at 7% discount to the IPO price of ₹172.

Central Mine Planning share price opened at ₹160 on NSE and ₹162.80 on BSE on Monday. This means that the IPO allottees made a loss of 7% over the Central Mine Planning & Design Institute IPO (CMPDI IPO) listing.

The listing of the CMPDI IPO came in below the market expectations. Ahead of the debut, the GMP of CMPDI IPO was ₹5. The estimated listing price was ₹177, which is 2.91% higher than the IPO price.

CMPDI IPO was open for subscription from March 20 to March 24, while the IPO allotment was finalised on March 25.

The IPO price band was fixed at ₹163– ₹172 per share, and the company raised ₹1,842.12 crore through the book-building issue, which comprised entirely an offer-for-sale (OFS) of 10.71 crore equity shares.

Overall, the issue was subscribed 1.05 times, according to NSE data. The Retail Individual Investors (RIIs) segment saw 33% subscription, while the Non-Institutional Investors (NIIs) portion was booked 35%. The Qualified Institutional Buyers (QIBs) category was subscribed 3.48 times.

The company will not receive any financial proceeds from the public offering, as all funds raised—excluding issue-related expenses—will be transferred directly to Coal India.

Ahead of the offering, the Coal India subsidiary had mobilised ₹470 crore from anchor investors last Wednesday.

IDBI Capital Markets Services Ltd. acted as the book-running lead manager, while Kfin Technologies Ltd. served as the registrar for the IPO.

CMPDIL was incorporated in 1975 as a wholly owned subsidiary of Coal India. The company offers consultancy and support services across the full spectrum of coal and mineral exploration, along with mine planning and design services.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in.

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

Download the Mint app and read premium stories