Coal India Ltd.'s subsidiary, Central Mine Planning & Design Institute Ltd, is all set to hit the primary market after filing its red herring prospectus on Friday. The offer will open for bidding on March 20. However, the company has not announced the price band yet.
The offer will close on March 24, while a bidding round for anchor investors will occur on March 18. The IPO is solely an offer for sale (OFS) of shares with a face value of Rs 2 aggregating up to 107,1,00,000 by promoter Coal India Ltd. There is no fresh-issue component.
Since there is no fresh issuance of shares, the company will not get any proceeds from the offer. The money raised will go to the promoter.
"Our Company will not receive any proceeds from the Offer (the “Offer Proceeds”) and all the Offer Proceeds will be received by the Promoter Selling Shareholder after deduction of Offer related expenses and relevant taxes thereon, to be borne by the Promoter Selling Shareholder," the company said in the RHP.
With the fundraising, the company expects to enhance visibility and brand image among other things.
"Our company expects that listing of the equity shares will enhance our visibility and brand image and provide liquidity and a public market for the equity shares in India," the RHP outlined.
The allotment for the CMPDI IPO is expected to be finalised on March 25, 2026 and the tentative listing will take place on March 30, on both BSE and NSE.
The Coal India arm is offering a 35% portion of the Net Offer to retail investors, while 50% has been reserved for qualified institutional buyers or QIBs.
KFin Technologies Ltd. is the registrar of the IPO and IDBI Capital Markets Services Ltd. is the book running lead manager of the issue.
Established in 1974, CMPDI offers consultancy and support services across the entire spectrum of coal and mineral exploration and mine planning and design.
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