IPO bound Coal India arm CMPDIL raised Rs. 470 crore received

Central Mine Planning and Design Institute (CMPDIL), an arm of state-owned Coal India, on Wednesday said it has raised Rs 100 crore from anchor investors ahead of the launch of its initial share-sale for public subscription. 470 crore has been collected.

According to a circular uploaded on BSE’s website, Life Insurance Corporation (LIC), Nippon India Mutual Fund (MF), Edelweiss MF, ICICI Prudential MF, Baring Private Equity India Fund, General Insurance Corporation of India and Edelweiss Life Insurance Corporation are among the anchor investors.

Also, Societe Generale, Citigroup, Goldman Sachs and BNP Paribas Financial Markets participated in the anchor round.

According to the circular, the state-owned firm sold 2.73 crore equity shares to 22 funds at Rs. 172 per piece, with a total transaction size of Rs. 469.74 crores.

Out of this fund, LIC received Rs. 105 crore shares have been allotted.

CMPDIL’s Rs. 1,842 crore initial public offering (IPO) will open for subscription on March 20 and close on March 24.

Price Band Rs. 163 to Rs. 172 per share, which at the high end values ​​the company at Rs. 12,280 crore, the company announced.

The issue will be entirely an offer for sale (OFS) of 10.71 crore shares, priced at the upper end of Rs. 1,842.12 crore, with no fresh issue component by Coal India.

CMPDIL was incorporated in 1975 as a wholly owned subsidiary of Coal India.

It provides consultancy and support services for the entire spectrum of coal and mineral exploration as well as mine planning and design services.

Its services primarily include infrastructure engineering, environmental management, geomatics, specialized technology services and management systems for the coal industry and other minerals.

During FY25, its income from operations was Rs. 2,103 crore and a net profit of Rs. 667 crores. Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional buyers, the company said.

The state-owned company will enter the stock market on March 30.

IDBI Capital Markets & Securities and SBI Capital Markets are book-running lead managers for the public issue.

Earlier, another subsidiary of Coal India, Bharat Coking Coal (BCCL) in January had its Rs. 1,071 crore IPO was brought.