Central Mine Planning & Design Institute's IPO Achieves Full Subscription
Central Mine Planning & Design Institute Ltd's IPO, worth Rs 1,842 crore, was fully subscribed on its closing day, receiving bids 1.05 times the shares available. The IPO, an offer-for-sale by Coal India, saw significant interest from Qualified Institutional Buyers but less from retail investors.
- Country:
- India
The IPO of Central Mine Planning & Design Institute Ltd, a subsidiary of Coal India, concluded successfully with full subscription on Tuesday, marking a milestone for the company. The offering of Rs 1,842 crore saw a subscription rate of 1.05 times the available shares, according to data from the NSE.
Qualified Institutional Buyers led the charge with a subscription figure of 3.48 times, while non-institutional investors subscribed to 35 percent. Retail investors showed comparatively lower interest, with just 33 percent of the shares subscribed in their category.
CMPDIL, established in 1975 under Coal India, provides extensive services in coal and mineral exploration. The company raised Rs 470 crore from anchor investors with an IPO price band set between Rs 163-172 per share, valuing CMPDIL at about Rs 12,280 crore at its maximum.
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