Coal India's CMPDI sets price band at Rs 163-172 per share for Rs 1,838-crore IPO

Central Mine Planning & Design Institute, the subsidiary of country's largest coal mining company Coal India, on March 16 has fixed price band at Rs 163-172 per share for its upcoming IPO. The coal and mineral consultancy company is raising Rs 1,837.8 crore via initial share sale, at a valuation of Rs 12,280.8 crore at the upper price band. The initial public offering, which comprises of only an offer-for-sale of 10.71 crore shares by Coal India with no fresh issue component, will open for subscription on March 20, and close on March 24, while the one-day IPO anchor book will be launched on March 18. The company has reserved 53.55 lakh shares in the IPO for its employees, and another 1.07 crore shares for shareholders. Eligible employees will be allotted shares at a discount of Rs 8 per share to the final issue price. Half of the net offer size (excluding employees and shareholders portions) has been reserved for qualified institutional buyers, 15 percent for non-institutional investors, and the remainder 35 percent for retail investors. Click Here To Read All IPO News Investors can bid for a minimum of 80 equity shares, and in multiples of 80 shares thereafter. The minimum application size by retail investors would be Rs 13,760, and the maximum would be Rs 1,92,640. Incorporated in 1975, Central Mine Planning & Design Institute (CMPDI) offers consultancy and support services for the entire spectrum of coal and mineral exploration and mine planning and design services. It claims one of the largest coal and mineral consultancy companies in India. The company will not receive any money from the public issue. All the funds, excluding offer expenses, will be received by Coal India. The IPO share allotment will be finalised by March 25, while the CMPDI shares will be available for trading on the bourses effective March 30. On the financial front, Central Mine Planning & Design Institute has recorded profit of Rs 425.4 crore in nine months period ended December 2025, growing 9 percent from Rs 390 crore in corresponding period last year. Revenue during the same period increased 9.3 percent to Rs 1,489.7 crore, from Rs 1,362.4 crore. IDBI Capital Markets & Securities, and SBI Capital Markets are acting as the merchant bankers for the Central Mine Planning & Design Institute IPO.