Coal India arm Central Mine Planning IPO subscribed 10% on Day 2 so far - Check GMP

Central Mine Planning and Design Institute initial public offer (IPO) got subscribed 10 percent on the second day of the share sale on Monday, so far.

The arm of state-owned Coal India received bids for 77.18-lakh shares, against 7.97 crore shares on offer, as per NSE data till 12:15 pm. The category for Retail Individual Investors (RIIs) received 14 per cent subscription, while the quota meant for non-institutional investors got subscribed 7 percent. Earlier, it mobilised Rs 470 crore from anchor investors.

The Rs 1,842-crore initial public offering (IPO) will conclude on March 24.

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.

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Central Mine Planning IPO GMP Today Price

According to platforms tracking the grey market activities, the shares of the company are commanding a flat GMP in the unofficial market.

Central Mine Planning IPO allotment is expected by March 25, while share listing is proposed on March 30.

CMPDIL 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.