Central Mine Planning IPO: Price band set at Rs 172. Worth subscribing as per GMP?

Central Mine Planning & Design Institute Limited (CMPDI) has announced the price band for its upcoming initial public offering, with the company planning to raise Rs 1,842.12 crore through the public issue.

The Central Mine Planning IPO is a book-built issue and the entire offer consists of an offer for sale. A total of 10.71 crore shares will be sold in the issue, taking the total size of the IPO to Rs 1,842.12 crore.

The public issue will open for subscription on March 20, 2026 and will close on March 24, 2026. The basis of allotment for the IPO is expected to be finalised on March 25, 2026.

The shares of the company are proposed to be listed on both the BSE and the NSE. As per the current schedule, the tentative listing date for the shares is March 30, 2026.

PRICE BAND AND LOT SIZE

The company has fixed the price band for the IPO at Rs 163 to Rs 172 per share.

The minimum lot size for investors is 80 shares. This means a retail investor will have to invest at least Rs 13,760 if they apply for one lot at the upper price band of Rs 172 per share.

For non-institutional investors, the investment requirement is higher.

Small non-institutional investors (sNII) will need to apply for at least 15 lots, which equals 1,200 shares. At the upper price band, this amounts to Rs 2,06,400.

For big non-institutional investors (bNII), the minimum application is 73 lots or 5,840 shares. This requires an investment of Rs 10,04,480 at the upper price band.

IDBI Capital Markets Services Ltd. is the book running lead manager for the issue, while Kfin Technologies Ltd. has been appointed as the registrar.

Further information about the offer can be found in the company’s red herring prospectus (RHP).

LATEST GMP AND LISTING ESTIMATE

In the grey market, the Central Mine Planning IPO is currently trading with a premium.

The last recorded grey market premium (GMP) for the IPO stood at Rs 21 as of March 16, 2026 at 12:00 PM.

Based on the upper price band of Rs 172 and the current GMP of Rs 21, the estimated listing price of the share is around Rs 193.

This suggests a possible gain of about 12.21% per share over the issue price if the current premium holds until listing. However, grey market premiums are unofficial and can change before the listing day.

Central Mine Planning & Design Institute Limited was incorporated in 1974. The company provides consultancy and support services across the entire chain of coal and mineral exploration, along with mine planning and design.

Its services also include infrastructure engineering, environmental management, specialised technology services and management systems. These services are mainly provided to the coal industry and companies involved in other minerals.

CMPDI is one of the largest coal and mineral consultancy firms in India. In the financial year 2025, the company had a market share of about 61.0% in this segment.

The company is also the preferred consultant for Coal India Limited and provides services for several projects related to coal and mineral development across the country.

(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)

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