The initial public offering (IPO) of Central Mine Planning and Design Institute Ltd, a unit of Coal India, was subscribed 7% on the first day. The Rs 1,842 crore IPO offers 10.71 crore shares with a price band of Rs 163-172, and concluded on March 24. The IPO aims to mobilize resources without issuing fresh shares.

CMPDIL's IPO: A Deep Dive into Coal India's Ambitious Share Sale

The initial public offering (IPO) of Central Mine Planning and Design Institute Ltd (CMPDIL), a subsidiary of Coal India, garnered attention with a 7% subscription rate on its first day. The IPO, which offers 52,44,320 shares out of a total of 7,97,89,500 shares, reflects investor interest despite a challenging market.

Retail Individual Investors showed some interest, subscribing to 10% of their allocated shares, while non-institutional investor quotas reached a 5% subscription. Notably, CMPDIL had earlier announced raising Rs 470 crore from anchor investors, marking a robust start to its fundraising initiative.

The Rs 1,842 crore IPO, priced between Rs 163 and Rs 172 per share, aims to finalize by March 24. Managed by IDBI Capital Markets and SBI Capital Markets, this IPO stands as a significant move by Coal India without the introduction of new shares, showcasing its confidence in leveraging existing assets.