Caliber Mining And Logistics Files Draft Papers For Rs 600-Crore IPO

Caliber Mining And Logistics Ltd. filed its preliminary papers with the Securities and Exchange Board of India on Monday to raise Rs 600 crore via an initial public offering. The book built offer will include both fresh issue and offer for sale.

The equity shares are proposed to be listed both on the National Stock Exchange and the BSE.

The company will offer shares worth Rs 500 crore in the fresh issue. The offer for sale will be for shares aggregating up to Rs 100 crore. Promoters Mohit Satishkumar Chadda, Anuj Krishanlal Chadda, Manish Krishanlal Chadda and Rahul Roshanlal Chadda will offload stake worth Rs 25 crore each in the latter portion. The price band and offer period will be announced by the company in due course.

DAM Capital Advisors Ltd., KFin Technologies Limited are the book-running lead manager and KFin Technologies Ltd. will be the registrar of the issue.

From the net proceeds of the issue, Rs 175 crore will be used for repayment and prepayment of certain borrowings availed by the company. It will utilise Rs 200 crore from the proceeds to purchase of machinery. The funds will be deployed by March 2026, the company said in the IPO draft papers.

Caliber Mining is one amongst the top ten mining operators managing overburden removal, coal extraction and coal logistics. The company is an integrated services provider.

The company offers end-to-end services including coal extraction, coal loading and unloading, road transportation and coordination of rail transportation. Their mining and overburden removal operations are located in Maharashtra, Chhattisgarh and Madhya Pradesh.

The company's largest customers are mine owing subsidiaries of Coal India Limited, namely Western Coalfields Limited and Northern Coalfields Limited. The company has a fleet size of 1,473 vehicles, including 100 leased trucks, equipment and machines as on Oct. 31 2024.