Central Mine Planning & Design Institute Ltd IPO
Mining & Mineral products
Price Band
₹163 – ₹172
Lot Size
80
Minimum Bid Quantity
80
Minimum Investment
₹13760
Issue Size
₹1842.12Cr
Opens
2026-03-20
Closes
2026-03-24
Listing
30-03-2026
Subscription Status
Qualified Institutional Buyers
2.92 x
Non-Institutional Investor
0.33 x
Retail Individual Investor
0.29 x
Employees
0.17 x
Shareholder
0.32 x
Total
0.89 x
IPO Details
Issue Type
EQUITY
Face Value
₹2
Tick Size
1
ISIN
INE05HV01027
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Central Mine Planning and Design Institute Limited (CMPDI) is a provider of consultancy and support services across coal and mineral exploration, mine planning, and mine design. The company’s services cover the lifecycle of mining operations, including geological exploration and resource evaluation, mine planning and design, environmental planning and monitoring, geomatics, remote sensing, and survey services. It also provides infrastructure engineering support, environmental studies, management system consultancy, and specialised technical services related to mining operations. The company was incorporated on November 1, 1975, as a wholly owned subsidiary of Coal India Limited. It assists government bodies and mining companies in areas such as exploration, mine development planning, environmental compliance, and technical evaluation. As of December 31, 2025, the company operated seven regional institutes across coal-producing states, including Madhya Pradesh, Chhattisgarh, Odisha, and West Bengal, along with a network of laboratories that support geological analysis, environmental monitoring, and coal testing activities. Use of proceeds: The IPO is an offer-for-sale (OFS). The company will not receive any proceeds from the offer. Net proceeds from the offer will go to the promoter-selling shareholder – in this case, Coal India Limited (CIL). The primary objective of the offer is to achieve the benefits of listing the equity shares on the stock exchanges, which is expected to enhance the company’s visibility and brand recognition. Listing will also provide liquidity to the existing shareholders and create a public market for the company’s shares in India.
Pros
- • The company claims to offer multidisciplinary consultancy services that cover the entire lifecycle of mining projects. Its services include coal and mineral exploration, mine planning and design, environmental studies, geomatics, laboratory services, and mine closure planning. This integrated structure allows it to provide end-to-end technical support for mining operations.
- • The company claims that its relationship with Coal India Limited, which is one of the largest coal producers globally, provides it with consistent project opportunities, access to industry data, and close involvement in coal sector planning. The association also places it in a position to work on projects linked to the expansion of coal mining capacity in India.
- • The company claims to provide consultancy services to Coal India Limited, its subsidiaries, and various government entities, including the Ministry of Coal. Its client base has expanded from 38 clients in FY23 to 76 clients as of December 31, 2025. The company also reports having repeat engagements with several large clients across the mining and energy sectors.
Cons
- • The top 10 clients of the company contributed Rs 139.79 crore (93.8%), Rs 199.84 crore (95.0%), Rs 165.46 crore (95.5%), and Rs 132.82 crore (95.8%) to the company’s revenue from operations in the nine months ended December 31, 2025, FY25, FY24, and FY23, respectively. Any failure to retain these key clients, or a reduction in business from them, could adversely affect the company’s business, financial condition, results of operations, and cash flows.
- • A significant portion of the revenue of the company is derived from Coal India Limited and its subsidiaries. Coal India Limited and its subsidiaries contributed Rs 98.33 crore (66.0%) to the company’s revenue from operations in the nine months ended December 31, 2025; Rs 141.07 crore (67.1%) in FY25; Rs 139.03 crore (80.2%) in FY24; and Rs 114.61 crore (82.7%) in FY23. Any decline in demand for services from Coal India Limited or its subsidiaries, or changes in their procurement policies, could adversely affect the company’s business, financial condition, results of operations, and cash flows.
- • The top 10 vendors of the company accounted for Rs 30.14 crore (20.2%), Rs 30.21 crore (14.4%), Rs 30.99 crore (17.9%), and Rs 20.11 crore (14.5%) in expenses as a percentage of revenue from operations in the nine months ended December 31, 2025, FY25, FY24, and FY23, respectively. These expenses also accounted for 30.9%, 23.3%, 29.9%, and 19.5% of the company’s total expenses during the same periods. Any disruption in services from these key vendors, particularly those providing drilling, geophysical logging, and other exploration-related services, could adversely affect the company’s business, results of operations, financial condition, and cash flows.
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