Caliber Mining is raising Rs 450 crores through an initial public offer. The IPO bidding opened for subscription today, July 17, and will close on July 21. The issue is a combination of fresh issue of 0.94 crore shares amounting to Rs 400 crores and an offer for sale of 0.12 crore shares, totalling to Rs 50 crores. The company has set the IPO price band between Rs 402 and Rs 424 per share.
Caliber Mining IPO: Subscription status
The retail investors have shown interest in the IPO, booking the category 90% within the first three hours of bidding. The IPO has been subscribed to a total of 0.72 times as of 12:30 PM. The Non-Institutional Investors (NIIs) category was booked 0.84 times, and the QIB segment was subscribed 0.31 times, during the same time period.
Caliber Mining IPO: Allotment and listing
The allotment for the IPO shares is expected to be finalised on July 22, while the listing on the exchanges, NSE and BSE, is likely to be on July 24, as per the tentative schedule.
Caliber Mining IPO lot sizes
A retail investor needs to apply for a minimum of one lot that contains 35 shares, amounting to Rs 14,840. The lot size investment for a small Non-Institutional Investor (NII) is 14 lots of 490 shares, totalling Rs 2 lakh, and for a big NII, it is 68 lots of 2,380 shares, aggregating to Rs 10 lakh.
Caliber Mining: Book runner and registrar
Dam Capital Advisors is the book-running lead manager of the IPO, and Kfin Technologies is the registrar of the issue.
Caliber Mining: Objectives of the issue
The company intends to utilise around Rs 208 crore from the fresh issue proceeds towards debt repayment, which is expected to reduce finance costs and improve profitability. The remaining proceeds will be used towards capital expenditure for the acquisition of commercial vehicles, mining equipment, and machinery to strengthen execution capabilities and support future business expansion.
About Caliber Mining
Caliber Mining and Logistics is a one-stop provider of integrated coal mining and logistics services. The company offers end-to-end solutions, including overburden (OB) removal, coal extraction, coal loading and unloading, road transportation, and rail logistics coordination.
Caliber Mining operates mining and OB removal projects across Maharashtra, Madhya Pradesh, and Chhattisgarh, with its key customers comprising subsidiaries of Coal India, primarily Western Coalfields (WCL) and Northern Coalfields (NCL).
The company is launching a Rs 450 crore IPO, comprising a fresh issue of Rs 400 crore and an Offer for Sale (OFS) of Rs 50 crore, implying a post-issue market capitalisation of approximately Rs 2,772 crore.
Expert take on Caliber Mining IPO
Going forward, Deven Choksey Research said that the company is well-positioned to sustain growth, supported by a robust order book, expansion into Odisha and Jharkhand, diversification into iron ore logistics, and continued focus on operational efficiencies.
“At the upper price band, the IPO is valued at 14.5x FY26 P/E and 7.7x FY26 EV/EBITDA, representing a reasonable valuation compared to listed contract mining and infrastructure peers, considering the company’s strong order book visibility, healthy execution track record, and long-term growth prospects. We recommend a ‘Subscribe’ rating to the IPO with a long-term investment horizon,” said the brokerage in an IPO note.