Coal India-backed Central Mine Planning & Design Institute's IPO will open for public subscription from Friday, March 20, to Tuesday, March 24. The issue is entirely an offer for sale (OFS) of 10.71 crore shares of face value of ₹2 each.

Central Mine Planning & Design Institute IPO GMP indicate double-digit listing gains- 10 key things to know from RHP

Central Mine Planning & Design Institute IPO: Amid heightened stock market volatility due to increased geopolitical risks, the initial public offering (IPO) of Coal India-backed Central Mine Planning & Design Institute is set to open for public subscription on Friday, March 20, and will remain open till Tuesday, March 24. The anchor investor bidding date is Wednesday, March 18.

Ahead of the IPO, the issue is garnering decent interest in the grey market, as the stock's latest grey market premium (GMP) suggests it will list with adouble-digit premium. As per grey market sources, the Central Mine Planning & Design Institute IPO GMP on Tuesday morning was ₹22, which suggested the stock could list at ₹194 on Indian bourses, commanding a premium of 12.79% over the issue price of ₹172.

The stock will debut on the NSE and the BSE on Monday, March 30.

Central Mine Planning IPO: 10 key things from RHP

From issue details to business review, here are the 10 key things that investors should know about the issue from the RHP:

1. Central Mine Planning IPO details

As per the RHP, the issue is entirely an offer for sale (OFS) of 10.71 crore shares of face value of ₹2 each. With a price band of ₹163 to ₹172, the OFS value stands at about ₹1,842.12 crore.

2. Central Mine Planning IPO book-running lead managers and registrar

IDBI Capital Markets & Securities Limited and SBI Capital Markets Limited are the book-running lead managers of the issue, while KFin Technologies Limited is the registrar of the Central Mine Planning IPO.

3. Selling shareholders in the OFS

Coal India is the promoter selling shareholder in the OFS, which is selling 10,71,00,000 shares of the company.

4. Objects of the offer

Since the issue is entirely an OFS, the company will not receive any proceeds from the offer. Coal India, which is the promoter selling shareholder, will receive the offer proceeds after the deduction of offer-related expenses and relevant taxes.

5. Central Mine Planning business overview

Central Mine Planning & Design Institute offers consultancy and support services for coal and mineral exploration, and mine planning and design services. It also offers infrastructure engineering, environmental management, geomatics, specialised technology services, and management systems, primarily for the coal industry and for other minerals, as per the RHP. The company, based on a CRISIL report, claims to be the largest coal and mineral consultancy company in India, with 61% market share in FY25, and is the preferred consultant for Coal India Limited.

6. Central Mine Planning's financial performance

The company's revenue from operations has seen sustained growth over the last few years. As per the RHP, its revenue in FY23 was ₹13,860.9 million, which rose to ₹17,326.9 million in FY24 and further increased to ₹21,027.6 million in FY25. For the nine-month period ended December 31, 2025, the company's revenue was ₹14,896.5 million.

The company's profit has also seen sustained growth since FY23. From ₹2,966.6 million in FY23 and ₹5,032.3 million in FY24, the company's profit increased to ₹6,669.1 million in FY25. For the nine-month period ended December 31, 2025, the company's profit was ₹4,253.6 million.

7. Central Mine Planning's promoters and management

As per the RHP, the promoters of the company are the President of India, acting through the Ministry of Coal, Government of India and Coal India Limited.

Coal India holds 71.40 crore shares, or 100% of the pre-offer issued, subscribed and paid-up share capital of the company.

The company's board comprises six directors, including four executive directors and two non-executive directors who are nominees of the Ministry of Coal, Government of India.

Chaudhari Shivraj Singh, 56, is the Chairman– cum-Managing Director of the company.

8. Central Mine Planning's peers

As per the RHP, Engineers India and RITES are the two listed peers of the company.

9. Mining consultancy market outlook

As per the RHP, the mining consulting services are intricately linked to the mining sector, which has experienced a growth (CAGR) of 3.39% from 2018 to 2023. The Indian

mining consultancy sector is projected to witness significant growth, with revenues expected to reach ₹ 43,274 million by FY30, representing a growth rate of 4.8% (5-year CAGR) from ₹34,252 million in FY25, driven by increasing demand, favourable industry dynamics and technological advancements.

10. Concentration of clients is a key risk

The company said its business largely depends on its top 10 clients, which have been contributing to more than 90% of its revenue from operations since FY23. The loss of any of these clients could have an adverse effect on the company's business, financial condition, results of operations and cash flows.

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