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CMPDI IPO Day 2 LIVE: The initial public offering of the Central Mine Planning and Design Institute Ltd, which is a subsidiary of the state-controlled Coal India, was 7% subscribed on its first day of the share sale on Friday, March 20.

The ₹1,842-crore Central Mine Planning IPO is set to close on March 24.

As per market experts, CMPDI IPO GMP is at ₹1.5. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Central Mine Planning & Design Institute shares is indicated as ₹173.5 apiece, which is 0.87% higher than the IPO price of ₹172.

CMPDI IPO price band is set between ₹163-172 each, which values the company at approximately ₹12,280 crore at the upper price limit, as announced by the company.

The offering will consist entirely of an offer-for-sale (OFS) of 10.71 crore shares, amounting to ₹1,842.12 crore at the higher price point, by Coal India, with no new issue component involved.

CMPDIL was established in 1975 as a fully-owned subsidiary of Coal India.

It provides consultancy and support services covering all aspects of coal and mineral exploration, in addition to mine planning and design services.

(Stay tuned for more updates)

Arihant Capital Markets has indicated that, in the medium term, the firm is well-equipped to take advantage of India's initiative to improve energy security through increased production of domestic coal and the auctioning of commercial mineral blocks. Its shift towards a "one-stop-shop" consultancy encompassing both coal and non-coal minerals, along with a capital-light business model, offers a solid basis for consistent cash flow generation.

Tentatively, CMPDI IPO basis of allotment of shares will be finalised on Wednesday, March 25, and the company will initiate refunds on Friday, March 27, while the shares will be credited to the demat account of allottees on the same day following refund. CMPDI share price is likely to be listed on BSE and NSE on Monday, March 30.

The public offering for Central Mine Planning and Design Institute Ltd, a subsidiary of the state-owned Coal India, saw a 7% subscription on its first day of the share sale on Friday.

According to NSE data, the IPO received bids totaling 52,44,320 shares, compared to 7,97,89,500 shares available for sale.

The Retail Individual Investors (RIIs) category had a subscription rate of 10%, while the segment designated for non-institutional investors received a 5% subscription.

CMPDI IPO Day 2 LIVE: As per market experts, CMPDI IPO GMP is at ₹1.5. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Central Mine Planning & Design Institute shares is indicated as ₹173.5 apiece, which is 0.87% higher than the IPO price of ₹172.

According to the activities of the grey market over the last 11 sessions, the current GMP ( ₹1.5) is indicating a downward trend. Experts note that the lowest GMP recorded is ₹0.50, while the peak GMP reached ₹24.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players.

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