The Caliber Mining IPO has officially closed for bidding, and the issue was subscribed 146.64 times. The offer saw robust investor demand across all its categories. It received bids for 114.90 crore shares against its ask of 78.35 lakh shares.
The coal extraction firm’s grey market premium has fallen over the past few sessions. Share allotment for the issue will be completed by July 22
The offer worth Rs 450 crore had fixed the share price band for its issue at Rs 402 to Rs 424 per share.
Caliber Mining IPO: QIBs portion subscribed 240.71 times
The Caliber Mining issue has been oversubscribed across all its categories, with maximum participation witnessed across the Qualified Institutional Buyers (QIBs), which was subscribed 240.71 times.
The QIB segment received bids for 53.88 crore shares against its demand of 22.38 lakh. Meanwhile, the non-institutional investors (NII) category were subscribed 267.36 times, while the retail applicant portion was subscribed 41.15 times.
Caliber Mining IPO: GMP at 20%
The issue witnessed a sharp fall in its grey market premium on its final day of bidding, with its GMP at Rs 83, reflecting an estimated listing price of Rs 507, based on the upper end of the price band. This translates into gains of 19.58%.
This means if a retail investor has bid for one lot comprising 35 shares, the shares are currently trading at a premium of Rs 2,905 based on the upper end of the price band. However, it is important to note that GMP does not promise gains and may fluctuate based on market conditions.
Caliber Mining IPO: Day 3 subscription snapshot
Caliber Mining IPO garnered massive investor participation, being subscribed 146.64 times.
| Investor Category | Subscription (Day 3) |
| Qualified Institutional Buyers (QIBs) | 240.71x |
| Non-Institutional Investors (NIIs) | 267.36x |
| Retail Individual Investors (RIIs) | 41.15x |
| Overall | 146.64x |
Caliber Mining IPO: Expert take
Giving IPO a ‘Subscribe’ for medium-to long-term rating, Geojit Investments in its report said,
“At the upper price band of ₹424, CMLL is valued at ~17x FY26 P/E and appears reasonable compared to its peers. CMLL offers a compelling play on India’s coal outsourcing theme, supported by its integrated model, strong execution with Coal India subsidiaries, robust order book visibility, industry-leading margins, and growth supported by capacity expansion and balance sheet strengthening.”
Caliber Mining IPO timeline
The Caliber Mining IPO, which has closed for bidding today, opened for bidding on July 17. The share allotment process is expected to be completed by July 22, while the credit of shares and refunds are likely by July 23. The company is expected to list on NSE and BSE by July 24.