CMPDIL IPO GMP: Central Mine Planning and Design Institute Ltd (CMPDIL) IPO is currently open for subscription. Friday (March 20) was the first day of the subscription. The IPO was booked only 7 per cent.
Central Mine Planning shares are commanding a very thin premium in the grey market. As per various websites, CMPDIL shares traded with a grey market premium or GMP of just Re 1 on Friday.
CMPDIL has fixed its price band at Rs 163-172 per share, valuing the company at around Rs 12,280 crore at the higher end.
According to NSE data, CMPDIL IPO received bids for 52,44,320 shares, as against 7,97,89,500 shares on offer. The category for Retail Individual Investors (RIIs) received 10 per cent subscription, while the quota meant for non-institutional investors got subscribed 5 per cent.
CMPDIL's IPO subscription will end on March 24.
Central Mine Planning and Design Institute is an arm of state-owned Coal India.
Ahead of IPO, CMPDIL had raised Rs 470 crore from anchor investors.
CMPDIL IPO 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.
