Shares of Central Mine Planning & Design Institute Ltd (CMPDIL), a subsidiary of state-owned Coal India, commenced trading on the stock exchanges on Monday with an initial dip.
The company’s stock listed at Rs 162.80 on the Bombay Stock Exchange (BSE), marking a decline of 5.34 per cent from its issue price of Rs 172. On the National Stock Exchange (NSE), the shares opened at Rs 160, representing a discount of 6.97 per cent.
According to details received by The Chenab Times, the market valuation of CMPDIL stood at Rs 11,698.89 crore following its debut on the bourses. The company’s initial public offering (IPO), which was entirely an Offer For Sale (OFS) of 10.71 crore shares by Coal India, had garnered significant attention during its bidding period, closing fully subscribed last week.
The IPO’s price band was set between Rs 163 and Rs 172 per share, with the total issue size valued at approximately Rs 1,842 crore at the upper price band. The offering did not include any component for fresh issuance of shares.
CMPDIL, incorporated in 1975, operates as a wholly-owned subsidiary of Coal India. The institute provides a comprehensive suite of consultancy and support services essential for the exploration of coal and other minerals. Its expertise extends to mine planning and design, crucial for the development of mining projects.
The scope of CMPDIL’s services also encompasses infrastructure engineering, environmental management solutions, geomatics, and the application of specialised technologies. Furthermore, the company offers management systems consultancy, primarily catering to the needs of the coal industry and allied mineral sectors.
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The Chenab Times News Desk
