The initial public offering (IPO) of Central Mine Planning & Design Institute (CMPDI) was subscribed 1.05 times on the third and final day of bidding on March 24. The IPO received bids for 8,37,16,560 shares against 7,97,89,500 offered.
Qualified Institutional Buyers (QIBs) booked the issue 3.48 times. The Non-Institutional Investors' (NIIs) category was subscribed 0.35 times. Retail investors booked their quota 0.33 times.
Ahead of its listing, the grey market premium (GMP) indicates a premium of close to 5% for the issue.
CMPDI IPO GMP Today
According to InvestorGain, the GMP for the CMPDI IPO stood at Rs 8 on March 27. It indicates a listing price of Rs 180 apiece at a premium of 4.65% on the upper limit of the price band.
Note: GMP does not represent official data and is based on speculation.
CMPDI IPO: Key Details
The CMPDI IPO was a book-built issue of Rs 1,842.12 crore. It comprised an offer-for-sale (OFS) of 10.71 crore shares.
To participate in the IPO, retail investors needed to bid for a single lot size of 80 shares, requiring an investment of Rs 13,760. Small Non-Institutional Investors needed to bid for 15 lots, amounting to an investment of Rs 2,06,400. Big Non-Institutional Investors could participate in the IPO by bidding for a minimum of 73 lots. It led to an investment of Rs 10,04,480.
The price band for the IPO was set at Rs 163 to Rs 172 per share. IDBI Capital Markets Services Ltd. was the book-running lead manager and KFin Technologies Ltd. was the registrar of the issue.
The subscription window was open from March 20 to March 24, with the allotment finalised on March 25. The company will transfer shares to the demat accounts of successful bidders on March 27, and refunds for non-allottees will be made on the same day.
Shares of Central Mine Planning & Design Institute are tentatively scheduled to be listed on the BSE and NSE on March 30.
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Use Of Proceeds
The objectives of the IPO are to achieve the benefits of listing on stock exchanges and aid the government's PSU divestment programme, with no proceeds going to the company
About CMPDI
CMPDI offers consultancy and engineering services for mining and environmental engineering. It is a wholly owned subsidiary of Coal India.
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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