CMPDI IPO Day Three: Check Subscription Status, Latest GMP, Company Financials, And More

Central Mine Planning and Design Institute (CMPDI)'s initial public offering opened for subscription on Friday. The Rs 1,842-crore IPO is entirely an offer for sale (OFS) of 10.71 crore shares at the upper end, by Coal India, with no fresh issue component.

The initial public offer of Central Mine Planning & Design Institute Ltd, an arm of state-owned Coal India, received 25% subscription on the second day of bidding on Monday. The IPO got bids for 2.02 crore shares against 7.97 crore shares on offer, according to NSE data. The portion for Qualified Institutional Buyers (QIBs) received 62 per cent subscription. The category for Retail Individual Investors (RIIs) received 17% subscription and the quota for non-institutional investors got subscribed 8%

CMPDI's IPO has opened for subscription on March 20 and conclude on March 24. The state-owned firm will make its stock market debut on March 30.

The price band has been fixed at Rs 163-172 per share, valuing the company at around Rs 12,280 crore at the higher end, the company announced. The state-owned firm has allotted 2.73 crore equity shares to 22 funds at Rs 172 per share Of these funds, LIC has been allocated shares to the tune of Rs 105 crore.

MPDIL said it has mobilised Rs 470 crore from anchor investors ahead of its initial share sale opening for public subscription. Life Insurance Corporation of India (LIC), Nippon India Mutual Fund (MF), Edelweiss MF, ICICI Prudential MF, Baring Private Equity India Fund, General Insurance Corporation of India and Edelweiss Life Insurance Company are among the anchor investors, according to a circular uploaded on BSE's website.

Also, Societe Generale, Citigroup, Goldman Sachs and BNP Paribas Financial Markets participated in the anchor round.

IPO Day Three Subscription Status

The CMPDI's IPO Day 3 has been booked 28% as of 12:00 p.m.

Qualified Institutional Buyers: 0.62 times

Non Institutional Investors: 0.12 times or 12%

Retail Individual Investors: 0.21 times or 21%

Employee Reserved: 0.13 times

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IPO GMP

The grey market premium (GMP) for the CMPDI's IPO is Rs 0.85 at 11:29 a.m., according to InvestorGain. The latest GMP indicates an estimated listing price of Rs 172.85 per share, at a discount of 0.49% over the upper limit of the issue price of Rs 172.

Note: GMP does not represent official data and is based on speculation.

CMPDI's Financials

On the financial front, its revenue from operations was Rs 2,103 crore and net profit at Rs 667 crore during FY25. The company said that half of the issue size has been reserved for qualified institutional buyers, 35% for retail investors and the remaining 15 % for non-institutional buyers.

About the Company

Central Mine Planning and Design Institute (CMPDI) was incorporated in 1975 as a wholly-owned subsidiary of Coal India. It offers consultancy and support services for the entire spectrum of coal and mineral exploration, as well as mine planning and design services. Its services also include infrastructure engineering, environmental management, geomatics, specialised technology services, and management systems, primarily for the coal industry and other minerals.

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

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