Central Mine Planning and Design Institute Ltd (CMPDI), a wholly owned subsidiary of Coal India Ltd, has set the price band for its upcoming initial public offering (IPO) at ₹163–₹172 per equity share. The issue aims to raise around ₹1,838 crore IPO through the public market.

The CMPDI IPO will open for subscription on March 20 and close on March 24. Anchor investor bidding is scheduled for March 18. The company’s shares are expected to be listed on the BSE and NSE on March 30, according to the offer documents.

Key Highlights

• CMPDI sets ₹163–₹172 price band for ₹1,838 crore IPO
• Coal India arm to open public issue from March 20
• IPO entirely OFS as Coal India plans value unlocking

The public issue will consist entirely of an offer for sale (OFS) of around 10.71 crore equity shares by Coal India, the promoter. Since the issue is an OFS, CMPDI will not receive any proceeds from the offering, and the funds raised will go to the selling shareholder.

At the upper end of the price band, the IPO values the company at around ₹12,281 crore. The CMPDI share price band has been fixed at ₹163–₹172 per share. The minimum lot size has been fixed at 80 equity shares. Retail investors will need to invest at least ₹13,760 to bid for one lot at the upper price band.

As per regulatory allocation norms, 50 percent of the issue is reserved for qualified institutional buyers (QIBs), 35 percent for retail investors, and at least 15 percent for non-institutional investors.

CMPDI, headquartered in Ranchi, provides consultancy and technical services for the mining sector. Its operations include coal and mineral exploration, mine planning, geological surveys, environmental management, and related engineering services. The company primarily works with Coal India and its subsidiaries, while also undertaking projects for other public and private sector organisations.

Coal India is the world’s largest government-owned coal producer and plays a major role in India’s coal production. CMPDI functions as the technical and consultancy arm of the company, supporting exploration, planning, and development activities across its mining operations.

The IPO comes at a time when the Indian primary market is seeing varied investor response. However, CMPDI’s position within the coal sector and its link with Coal India are factors expected to draw investor attention.

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The listing is also part of Coal India’s plan to unlock value from its subsidiaries and expand their presence in the capital markets.