CMPDIL IPO Fully Subscribed

New Delhi, Mar 24 (PTI) The initial public offering of Central Mine Planning & Design Institute Ltd, an arm of state-owned Coal India, got fully subscribed on the closing day of bidding on Tuesday.

The Rs 1,842-crore IPO received bids for 8,37,16,560 shares, as against 7,97,89,500 shares on offer, translating into 1.05 times subscription, according to details available with the NSE.

The quota for Qualified Institutional Buyers (QIBs) received 3.48 times subscription, while the category for non-institutional investors got subscribed 35 per cent. The portion meant for Retail Individual Investors (RIIs) fetched 33 per cent subscription.

Central Mine Planning and Design Institute (CMPDIL) has mobilised Rs 470 crore from anchor investors.

The price band has been fixed at Rs 163-172 per share, valuing the company at around Rs 12,280 crore at the higher end, the company had announced.

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

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.

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

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