Central Mine Planning IPO Day 1 update as subscription reaches 1% with review and key highlights

The Central Mine Planning and Design Institute (CMPDIL) IPO is open for subscription from March 20 to March 24, 2026, with a price band of ₹163–₹172 per share, valuing the company at around ₹12,280 crore. Entirely an offer-for-sale of 10.71 crore shares by Coal India, the IPO allocates 50% to qualified institutional buyers, 35% to retail investors, and 15% to non-institutional investors, with a lot size of 80 shares. Founded in 1975, CMPDIL offers consulting, mine planning, infrastructure engineering, environmental management, and technology services primarily for coal and other minerals, reporting FY25 revenue of ₹2,103 crore and net profit of ₹667 crore. The latest grey market premium (GMP) is ₹4, indicating an expected listing price of ₹176, about 2.33% higher than the IPO price. Analysts highlight CMPDIL’s stable cash flow potential and expertise but caution about its reliance on Coal India and broader energy transition risks. Managed by IDBI Capital Markets and SBI Capital Markets, the IPO is proposed for listing on BSE and NSE, and early subscription shows low demand with 1% overall on day one.