CMPDIL Crashes 7% On Debut, Lists At ₹160 Vs ₹172 Issue Price
Shares of Central Mine Planning & Design Institute Ltd (CMPDIL), a Coal India subsidiary, listed on Monday at a discount of nearly 7 per cent. The stock opened at Rupees 160 on NSE (down 6.97 percent) and Rupees 162.80 on BSE (down 5.34 percent) against the issue price of Rupees 172. The Rupees 1,842-crore IPO was entirely an Offer For Sale by Coal India and was fully subscribed.
Shares of Central Mine Planning & Design Institute Ltd (CMPDIL), a Coal India subsidiary, listed on Monday at a discount of nearly 7 per cent. |
New Delhi: Shares of Central Mine Planning & Design Institute Ltd, an arm of state-owned Coal India, on Monday listed with a discount of nearly 7 per cent against the issue price of Rs 172. The stock started trading at Rs 162.80, down 5.34 per cent from the issue price on the BSE. At the NSE, the stock listed at Rs 160, a discount of 6.97 per cent. The company's market valuation stood at Rs 11,698.89 crore.
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The initial public offering of Central Mine Planning & Design Institute Ltd got fully subscribed on the closing day of bidding on Tuesday last week. The Rs 1,842-crore IPO had a price band of Rs 163-172 per share. The issue was 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.
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