The initial public offering of Central Mine Planning & Design Institute Limited (CMPDI) which opened for subscription on March 20 saw a tepid response from investors with an overall subscription of 0.07 times.
As bidding for the mainboard IPO enters day 2, the grey market premium for the mainboard IPO has remained positive underscoring investor appetite despite the current volatile market conditions.
The grey market premium for the CMPDI IPO had witnessed a downward trend since March 17, reflecting weakening investor sentiment. Factors such as broader economic volatility and uncertain market conditions appear to be weighing on investor sentiment. From a peak GMP of above 12%, it has dropped to below 1% on Friday but has remained steady with slight gains going into the second day of bidding on Monday. GMP indicates the unofficial price at which IPO shares trade before listing.
The subsidiary of Coal India Limited is seeking bids for a book-built issue worth Rs 1,842.12 crore.
The IPO has been subscribed 0.08 times as of 10:18 am on Monday, with investors bidding for 67,33,120 shares against the 7,97,89,500 shares on offer.
Central Mine Planning & Design Institute IPO GMP Today
According to Investorgain, the latest GMP for CMPDI IPO was Rs 1.5 on March 23. With a price band cap of Rs 172, the estimated listing price of CMPDI shares is around Rs 173.5 (price band + GMP), implying a modest gain of 0.87% per share. The latest GMP is slightly higher as compared to Friday. The GMP peaked at Rs 27 on March 16 at 09:55 am. At the time, it indicated an estimated listing price of around Rs 199, implying a strong expected gain of about 15.70% per share for investors at the upper band.
Note: GMP does not represent official data and is based on speculation.
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CMPDI IPO Details
CMPDI is a Coal India subsidiary and is launching an IPO, entirely an offer-for-sale (OFS) of 10.71 crore shares. Aiming to raise Rs 1,842.12 crore from the primary market, the IPO has set a price band of Rs 163 - Rs 172. Retail investors need to apply for at least a single lot size of 80 shares, which amounts to Rs 13,760 per application.
The IPO will remain open for subscription till March 24. The allotment of shares is expected to be finalised on March 25. The shares will list on both BSE and NSE, with a tentative listing date of March 30. IDBI Capital Markets Services Ltd. is serving as the book-running lead manager for the issue, while Kfin Technologies Ltd. is the registrar.
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CMPDI Business
Incorporated in 1974, Central Mine Planning provides consultancy and support services for coal and mineral exploration.
For the fiscal ended March 2025, CMPDI reported a total income of Rs 2,177.53 crore, up from Rs 1,770.18 crore in the previous year. The company's profit after tax increased to Rs 667 crore, compared with Rs 503.23 crore in March 2024. EBITA increased to Rs 915.71 crore, up from Rs 764.44 crore.
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Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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