Coal India’s CMPDIL IPO opens on March 20 at a price band of ₹ 163-172

Coal India’s subsidiary Central Mine Planning & Design Institute has fixed a price band of ₹163 to ₹172 per equity share of face value ₹2 each for its maiden initial public offering.

The IPO will open for subscription on March 20, 2026,and close on March 24, 2026, while the anchor investor bidding will take place on March 18, 2026. Investors can bid for a minimum of 80 equity shares and in multiples of 80 shares thereafter.

The public issue is entirely an offer for sale of up to 10.71 crore shares by Coal India, with no fresh issue component. Post-offer, the company will continue to have 714 million outstanding equity shares.

The offer is being conducted through the book-building process in compliance with SEBI ICDR Regulations, 2018. The equity shares are proposed to be listed on the main boards of BSE and the National Stock Exchange of India, with NSE designated as the lead exchange.

Not more than 50 per cent of the net offer will be allocated to qualified institutional buyers, while non-institutional investors and retail investors will be allotted not less than 15 per cent and 35 per cent of the net offer, respectively. The company has also reserved up to 5.36 million shares for employees, who will receive a discount of ₹8 per share on the final offer price. Additionally, up to 10.71 million shares have been reserved for eligible shareholders. The portion excluding employee and shareholder reservations will constitute the net offer.

IDBI Capital Markets & Securities Limited and SBI Capital Markets Limited are acting as the book-running lead managers to the issue, while KFin Technologies Limited is the registrar to the offer.

Incorporated in 1975 as a wholly owned subsidiary of Coal India, CMPDI provides consultancy and support services across the entire coal and mineral exploration value chain, including mine planning and design, infrastructure engineering, environmental management, geomatics, specialised technology solutions and management systems. Its services cater primarily to the coal sector along with other mineral industries.

The company is among the largest coal and mineral consultancy firms in India with an estimated market share of 61 per cent in FY25 and serves as the preferred consultant for Coal India. Its service portfolio spans the full lifecycle of mining operations, from initial exploration to mine closure.

CMPDI has reported strong financial growth in recent years. Revenue from operations stood at ₹1,489.6 crore for the nine months ended December 31, 2025, while net profit was ₹425.3 crore for the same period. For FY25, revenue rose to ₹2,102.7 crore compared with ₹1,386 crore in FY23. Net profit increased to ₹666.9 crore in FY25 from ₹296.6 crore in FY23.

Published on March 16, 2026