The IPO of Central Mine Planning and Design Institute, a unit of Coal India, saw 4% subscription on Day 1 and this highlights a muted investor response. The company's maiden public offering will conclude on March 24, 2026. The subsidiary of the country's largest coal miner, Coal India, raised Rs 469.74 crore from 22 anchor investors on March 19, 2026.
Central Mine Planning and Design Institute (CMPDIL) IPO got subscribed 4 per cent so far on the first day of its share sale in the primary market. The Rs. 1,842-crore IPO got 27.97-lakh bids against 7.97-crore bids on offer, according to the NSE data till 12:10 pm. The Non Institutional Investors (NII) portion got booked 2 per cent so far, while Retail Individual Investors (RIIs) witnessed 5 per cent subscription.
The price band has been fixed at Rs. 163 to Rs. 172 per share, valuing the company at around Rs. 12,280 crore at the higher end, the company announced. Central Mine Planning IPO allotment is expected by March 25, 2026, while share listing is proposed on March 30, 2026.
According to platforms tracking the grey market activities, the shares of the company are commanding a GMP of more than 2 per cent in the unofficial market. Before the IPO, the company raised Rs. 469.74 crore in the anchor round from investors including Life Insurance Corporation of India (LIC), ICICI Prudential Mutual Fund (MF), Nippon India MF, Edelweiss MF, Edelweiss Life Insurance Company, Baring Private Equity India Fund, General Insurance Corporation of India, Goldman Sachs, Societe Generale, Citigroup, and BNP Paribas Financial.
CMPDIL was incorporated in 1975 as a wholly-owned subsidiary of Coal India. It offers consultancy and support services for the entire spectrum of coal and mineral exploration, as well as mine planning and design services.
"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 firm said in its red herring prospectus (RHP).
Beyond Coal India, CMPDI also takes on work from private sector clients and government bodies like the National Mineral Exploration Trust (NMET), covering minerals such as bauxite, copper, and zinc.