57,233% return! Coal India set to make multibagger gains on Central Mine Planning IPO

The initial public offering (IPO) of Coal India subsidiary — Central Mine Planning & Design Institute — is set to hit Dalal Street this week, raising hopes of a turnaround in the primary market sentiment.

The investor interest in the Mini Ratna PSU stock's IPO is clearly evident by the grey market activity. According to websites tracking the unofficial market, Central Mine Planning IPO GMP today is ₹21, suggesting a 12% listing gain for investors.

Coal India to make 57,233% returns

Apart from gains for its investors, Central Mine Planning IPO also promises a windfall for its parent Coal India, which is the sole seller in the upcoming issue, which is a complete offer for sale.

Central Mine Planning IPO today, March 16, announced the price band at ₹163 to ₹172. The offer will open for bidding on Friday, March 20 and close on Tuesday, March 24. At the upper end of the price band, the company is looking to raise ₹1842 crore.

All of these proceeds will be received by Coal India who is the sole seller in the issue. According to Mint's calculation, Coal India will make a whopping 57,233% return based on the weighted average cost of acquisition of ₹0.3 per share.

The overall investment by Coal India to acquire 107,100,000 shares is ₹3.2 crore, while the total proceeds raised will be ₹1,842.12 crore, leaving ₹1,838.92 crore as a profit for the blue-chip PSU company.

Second IPO by Coal India in three months

Central Mine Planning IPO will be the public offer by Coal India after Bharat Coking Coal (BCCL), which debuted in January this year. BCCL IPO had garnered a massive 143.85 times bids for its ₹1,069 crore IPO and has more than doubled investor wealth since its listing.

Investors are hoping for a similar performance from Central Mine Planning IPO after a lacklustre primary market in 2026. According to Trendlyne data, out of all the IPOs that have been listed in 2026, only 13 are in profit, and 35 are in losses.

Even the listing day action has been subdued. Data further shows that 27 stocks have opened with gains and 21 with losses, with an average listing gain of less than 3%.

About Central Mine Planning

Central Mine Planning provides consultancy and support services for coal and mineral exploration. It has almost five decades of experience and has published over 320 project reports in the last decade.

The company assists the Ministry of Coal in strategic decisions and initiatives relating to the coal sector at the national level, for instance, through maintaining inventories of coal deposits, coal mining potentials and operations.

The company reported a profit of ₹425 crore for a nine-month period ended December 2025, up roughly 9% from the year-ago period.

IDBI Capital Markets and Securities and SBI Capital Markets are the book-running lead managers for the public issue.

Disclaimer: This story is for educational purposes only. We advise investors to check with certified experts before making any investment decisions.