Central Mine Planning share price makes lacklustre debut, lists at 7% discount to the IPO price

Central Mine Planning & Design Institute share price made a dull debut in the Indian stock market on Monday, March 30. The shares of Central Mine Planning listed at 7% discount to the IPO price of ₹172.

Central Mine Planning share price opened at ₹160 on NSE and ₹162.80 on BSE on Monday. This means that the IPO allottees made a loss of 7% over the Central Mine Planning & Design Institute IPO (CMPDI IPO) listing.

The listing of the CMPDI IPO came in below the market expectations. Ahead of the debut, the GMP of CMPDI IPO was ₹5. The estimated listing price was ₹177, which is 2.91% higher than the IPO price.

Central Mine Planning & Design Institute IPO

CMPDI IPO was open for subscription from March 20 to March 24, while the IPO allotment was finalised on March 25.

The IPO price band was fixed at ₹163– ₹172 per share, and the company raised ₹1,842.12 crore through the book-building issue, which comprised entirely an offer-for-sale (OFS) of 10.71 crore equity shares.

Overall, the issue was subscribed 1.05 times, according to NSE data. The Retail Individual Investors (RIIs) segment saw 33% subscription, while the Non-Institutional Investors (NIIs) portion was booked 35%. The Qualified Institutional Buyers (QIBs) category was subscribed 3.48 times.

The company will not receive any financial proceeds from the public offering, as all funds raised—excluding issue-related expenses—will be transferred directly to Coal India.

Ahead of the offering, the Coal India subsidiary had mobilised ₹470 crore from anchor investors last Wednesday.

IDBI Capital Markets Services Ltd. acted as the book-running lead manager, while Kfin Technologies Ltd. served as the registrar for the IPO.

CMPDIL was incorporated in 1975 as a wholly owned subsidiary of Coal India. The company offers consultancy and support services across the full spectrum of coal and mineral exploration, along with mine planning and design services.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.