Caliber Mining and Logistics IPO

About Caliber Mining and Logistics IPO

The Caliber Mining and Logistics IPO, a mainboard IPO, opens on July 17, 2026 and closes on July 21, 2026. The allotment of shares will take place on July 22, 2026. The credit of shares to the demat account will take place on July 23, 2026. The initiation of refunds will take place on July 23, 2026. The listing of shares will take place on July 24, 2026.

The equity shares offered through the IPO are proposed to be listed on the BSE and the NSE.

The offer consists of both a fresh issue and an offer for sale component. The fresh issue will include 94,33,962 shares aggregating up to ₹400 crores. The offer for sale portion includes 11,79,245 shares of ₹10 aggregating up to ₹50 crores. The total number of shares and aggregate amount are 1,06,13,207 shares aggregating up to ₹450 crores.

Caliber Mining and Logistics IPO's price band is set at ₹402 to ₹424 per share. The lot size for an application is 35. The minimum amount of investment required by a retail investor is ₹14,840 (35 shares) (based on upper price). The lot size investment required by sNII is 14 lots (490 shares), amounting to ₹2,07,760.

The Company is a mining operator that manages overburden removal, coal extraction, and coal logistics as an integrated services provider.

Objectives of Caliber Mining and Logistics IPO

The Company proposes to utilise the Net Proceeds of the fresh issue towards the following objects:

• Repayment or prepayment, in full or in part, of certain borrowings availed by the Company.
  
• Funding capital expenditure for the purchase of commercial vehicles, plant and machinery.
  
• General corporate purposes.
  

Industry Outlook

Coal remains India's dominant energy source. India produced 1,048 MT of raw coal in fiscal 2025, and raw coal supply has grown at a CAGR of 6.5% between fiscal 2015 and fiscal 2025. Production is projected to reach 1,484 MT by fiscal 2030, a CAGR of 7.2% from fiscal 2025. Coal India Limited and its subsidiaries are expected to supply approximately 294 MT of the additional 436 MT.

Demand is rising alongside supply. Coal demand grew at a 4.1% CAGR between fiscal 2015 and fiscal 2025 and is expected to grow at a 3.7% CAGR between fiscal 2025 and fiscal 2030, taking coal past a 60% share of thermal and captive power generation by fiscal 2030.

The Company sits directly in this outsourced segment. It derives the bulk of its coal mining revenue from Western Coalfields Limited and Northern Coalfields Limited, the two Coal India subsidiaries that account for much of the projected supply increase.

About Caliber Mining and Logistics

The Company is a mining operator managing overburden removal, coal extraction, and coal logistics as an integrated services provider. It does not own any mines. Coal extraction and overburden removal are carried out on a contractual basis for Western Coalfields Limited and Northern Coalfields Limited, along with private customers, across Maharashtra, Madhya Pradesh, and Chhattisgarh.

Its business spans five lines: coal mining services, logistics, rake loading, rail coordination services, and coal trading.

Strengths of Caliber Mining and Logistics

• Extensive industry experience of the promoters.
  
• In-house maintenance team and workshops.
  
• Healthy orderbook and established customer relationships.
  
• CMLL owns a fleet size of 1,811106 and 100 leased vehicles which is the backbone of its mining and transport operations.
  
• Strong net worth and debt protection measures.
  

Risks of Caliber Mining and Logistics

• Exposure to tender-based operations and cyclicality in end-user industry.
  
• Power and fuel accounted for 53.51% of total expenses in Fiscal 2026, and the Company does not hedge fuel price risk, so a rise in diesel prices would directly compress margins.
  
• The Company does not own the mines it operates and depends on its customers obtaining mining approvals, licences, and permits, any delay in which would halt work at the affected site.
  
• Accidents, flooding, equipment failure, and diesel or water shortages can reduce production or raise the cost of extraction at open-pit sites.
  

Anchor Investor Bidding Date: Thursday, July 16, 2026

IPO Registrar
KFin Technologies Limited
Tel: +91 4067162222 / 18003094001
E-mail: cmll.ipo@kfintech.com

Book Running Lead Manager
DAM Capital Advisors Limited

Caliber Mining and Logistics Contact Details
MIDC Chandrapur, Industrial Area, Plot No. B38 to B-48, Chinchala,
Village, Chandrapur – 442406, Maharashtra, India.
Email: investors@cmll.in
Tel: + 91 7122996128

Caliber Mining and Logistics Business Model

The company earns its revenue through contract mining and coal logistics services provided to mine owners. Coal mining services, comprising coal extraction and overburden removal on a contractual basis, are the largest revenue line and are billed against tender-awarded contracts with Western Coalfields Limited, Northern Coalfields Limited, and private mine owners.

Logistics revenue comes from loading, unloading, and road transportation of coal and iron for customers including KSR Freight Carriers, GMR Warora Energy Limited, and Dhariwal Infrastructure Limited.

Caliber Mining and Logistics Growth Trajectory

Caliber Mining and Logistics Limited's Total Income for FY26 was ₹1,684.66 crores, whereas in FY25 and FY24 it was ₹1,435.57 crores and ₹957.92 crores, respectively. The Profit After Tax for FY26 was ₹157.90 crores, whereas in FY25 and FY24 it was ₹131.55 crores and ₹95.90 crores, respectively.

Their EBITDA for FY26 was ₹430.91 crores, whereas in FY25 and FY24 it was ₹349.76 crores and ₹243.14 crores, respectively.

Caliber Mining and Logistics Market Position

The Company operates across Maharashtra, Madhya Pradesh, and Chhattisgarh, serving mine-owning subsidiaries of Coal India Limited alongside private customers. It served 49 customers in Fiscal 2026, 53 in Fiscal 2025, and 39 in Fiscal 2024.

The order book stood at ₹9,550.89 crores as of May 15, 2026, against ₹5,668.30 crores as at March 31, 2026. Delivery is supported by a fleet of 1,911 vehicles, plant and machinery and a workforce of 5,521 employees as of April 30, 2026.

As of 31 March 2026, the company's Total Income, Profit After Tax, and EBITDA were ₹1,684.66 crores, ₹157.90 crores, and ₹430.91 crores, respectively.

How to apply for Caliber Mining and Logistics IPO?

• Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.