Central Mine Planning & Design Institute Limited raises ₹470 crore from anchor investors

Central Mine Planning & Design Institute Limited, an arm of state-owned Coal India, on Wednesday said it has garnered ₹469.7 crore from anchor investors ahead of its initial public offering (IPO).

The company informed the bourses that it allocated 2,73,10,500 equity shares at Rs172 per share to anchor investors.

Some of the marquee institutions that participated in the anchor round include Life Insurance Corporation of India, BNP Paribas Financial Markets - ODI, Citigroup Global Markets Mauritius Private Ltd, General Insurance Corporation of India, Goldman Sachs Bank Europe SE - ODI, ASAS Global Fund Incorporated VCC Sub Fund, and Edelweiss Life Insurance Company.

Of these, LIC has been allocated the highest amount at ₹105 crore. Market regulator SEBI allows anchor allocation up to two working days before the issue opens. While T-1 is typical, T-2 is fully compliant.

Central Mine Planning & Design Institute IPO details

The initial public offering (IPO) of Coal India-backed Central Mine Planning & Design Institute will open for public subscription on Friday, March 20, and will conclude on Tuesday, March 24.

The issue is entirely an offer for sale (OFS) of 10.71 crore shares with a face value of ₹2 each. The price band for the issue has been set at ₹163 to ₹172 per share, which means the overall size of the OFS is about ₹1,842.12 crore.

Coal India is the sole promoter and selling shareholder in the OFS. 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.

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

About the company

Central Mine Planning & Design Institute offers consultancy and support services for coal and mineral exploration, along with mine planning and design services. It also provides infrastructure engineering, environmental management, geomatics, specialised technology services, and management systems, primarily for the coal industry as well as other minerals, as per the RHP.

Based on a CRISIL report, the company claims to be the largest coal and mineral consultancy firm in India, with a 61% market share in FY25, and is the preferred consultant for Coal India Limited.

The company's revenue from operations has shown sustained growth over the past few years. As per the RHP, its revenue stood at ₹13,860.9 million in FY23, 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 reported revenue of ₹14,896.5 million.

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