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Coal India arm Central Mine’s Rs.1,842-Cr IPO scrapes through on QIB support

Economic Times  

The INR 1,842 crore IPO of Coal India’s subsidiary, Central Mine Planning and Design Institute Ltd (CMPDI), managed to sail through on the final day of bidding. The issue was booked 1.05 times on the final day, with bids for 8.36 crore shares against 7.97 crore shares on offer.The demand was mainly driven by Qualified Institutional Buyers (QIBs), who subscribed to the IPO 3.48 times their quota, while Retail Individual Investors (RIIs) showed muted interest at just 33%. The non-institutional investors' (NII) quota also failed to get fully booked, managing only 35% subscription.The IPO was entirely an Offer for Sale (OFS). The company had set the issue price at INR 163 to INR 172. IDBI Capital Markets & Securities and SBI Capital Markets are serving as the book-running lead managers for the issue.

For FY25, Central Mine Planning & Design Institute had reported about INR 2,103 Cr in Operating Income and about INR 667 Cr in PAT.