Coal India’s Subsidiary CMPDIL Raises ₹470 Crore from Anchor Investors; IPO Opens March 20

Central Mine Planning and Design Institute (CMPDIL), a subsidiary of Coal India, has announced the mobilisation of ₹470 crore from anchor investors ahead of its upcoming public offering. The allocation was made on March 19, 2026, a day before the IPO’s scheduled opening.

The company allotted 2.73 crore shares at ₹172 per share to a diverse group of domestic and global institutional investors. This development marks a major step in CMPDIL’s transition from an internal Coal India subsidiary to a publicly traded consultancy and exploration services provider.

Anchor Investor Participation and Allocation Details

CMPDIL witnessed strong interest from anchor investors, indicating broad institutional confidence in the offering. The investor base included domestic institutions such as LIC, Nippon India Mutual Fund and Edelweiss Mutual Fund, along with global entities like Societe Generale, Citigroup, Goldman Sachs and BNP Paribas Financial Markets.

The company allotted 2.73 crore equity shares at ₹172 per share, raising ₹469.74 crore through the anchor book. A notable highlight was LIC’s allocation of shares worth ₹105 crore, reflecting significant participation by the insurer.

IPO Structure, Price Band and Key Dates

The company’s IPO will open for subscription on March 20, 2026, and close on March 24, 2026. CMPDIL has set a price band of ₹163 to ₹172 per share. The issue is valued at approximately ₹12,280 crore at the upper end of the price band.

Notably, the entire IPO is an offer for sale (OFS), with Coal India offloading 10.71 crore shares worth ₹1,842.12 crore. CMPDIL will not receive any fresh capital from the offering.

Business Profile and Operational Overview

Established in 1975, CMPDIL has evolved into a leading consultancy and exploration services provider for the coal and minerals sector. The company’s services span the full spectrum of mine planning, design and geological studies.

CMPDIL also offers environmental management, infrastructure engineering, geomatics and specialised technology solutions. For FY25, the firm recorded revenue of ₹2,103 crore and a net profit of ₹667 crore, indicating a strong operational base and steady client demand.

Subscription Breakup and Market Context

CMPDIL has allocated 50% of its IPO to qualified institutional buyers, 35% to retail investors and 15% to non-institutional investors. The stock is scheduled to list on the exchanges on March 30, 2026.

This structure reflects a balanced distribution across investor categories. The offering also aligns with Coal India’s broader strategy of unlocking value through subsidiary listings, following Bharat Coking Coal’s ₹1,071 crore IPO in January 2026.

Read More: CMPDI IPO To Open on March 20 with Entirely OFS Structure

Conclusion

CMPDIL’s successful mobilisation of ₹470 crore from anchor investors marks a strong start to its IPO process. The participation by major domestic and global institutions indicates robust confidence in the company’s business model and financial performance.

With an entirely OFS-based issue and a defined subscription structure, CMPDIL is set for its public market debut on March 30, 2026. The development also aligns with Coal India’s broader strategy of unlocking subsidiary value through market participation.

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