Shares of Central Mine Planning and Design Institute Ltd listed at a discount on the NSE, BSE on Monday.
On the BSE, the stock opened at ₹162.80, reflecting a 5.3 per cent discount, and moved in a range of ₹161.15 to ₹168.40 in early trade. On the NSE, it debuted at ₹160, marking a 7 per cent discount, before recovering to trade at ₹167 around 10.05 am.
Commenting on the weak debut, Shivani Nyati, Head of Wealth at Swastika Investmart, said, that the stock will likely remain sentiment-driven and may witness further downside or sideways movement, especially if broader market conditions stay weak, in the short term.
Nyati advised short-term traders to keep a stop loss below ₹150, and added, “conservative IPO investors may also maintain a stop loss around ₹148–150. While the company has a stable business and a strong position within the coal ecosystem, a cautious approach is advisable in the near term.”
IPO, price band, anchor portion
The muted listing comes after the company’s initial public offering saw modest overall demand, with the issue scraping through on the final day of subscription. The IPO garnered 1.05 times subscription, supported primarily by institutional investors. The qualified institutional buyers segment was subscribed 3.48 times, while demand from non-institutional investors remained weak at 0.35 times. Retail participation was also subdued at 0.33 times, with the employee and shareholder portions seeing subscription of 0.21 times and 0.36 times, respectively.
The ₹1,842-crore public issue was priced in the band of ₹163 to ₹172 per share, valuing the company at around ₹12,280 crore at the upper end. The offering was entirely an offer-for-sale of 10.71 crore equity shares by parent Coal India Ltd, with no fresh capital being raised by the company.
Ahead of the IPO, the company raised ₹470 crore from anchor investors. The anchor book saw participation from major domestic institutions such as Life Insurance Corporation of India and Nippon India Mutual Fund.
IDBI Capital Markets & Securities and SBI Capital Markets acted as the book-running lead managers to the issue.
Incorporated in 1975 as a wholly-owned subsidiary of Coal India Ltd, Central Mine Planning and Design Institute provides consultancy and technical support services in coal and mineral exploration, mine planning and design, infrastructure engineering, and environmental management.
Published on March 30, 2026