Caliber Mining IPO Price Band Fixed At ₹402-424; ₹450 Crore Issue Opens On 17 July

Caliber Mining and Logistics Ltd. has announced the price band for its upcoming ₹450 crore initial public offering (IPO). Investors will be able to subscribe to the issue from 17 July to 21 July, while the anchor investor portion will open a day earlier on 16 July.

At the upper end of the price band, the company is expected to command a post-issue market capitalisation of around ₹2,771.93 crore.

Fresh Issue And OFS Details

The Caliber Mining IPO consists of a fresh issue worth ₹400 crore along with an offer for sale (OFS) of up to ₹50 crore by promoters and existing shareholders.

The company plans to finalise the basis of allotment on 22 July. Successful applicants are expected to receive shares in their demat accounts on 23 July, while the stock is scheduled to make its market debut on 24 July.

Company Raises ₹100 Crore Before IPO

Ahead of the public issue, Caliber Mining raised around ₹100 crore through a pre-IPO placement on 28 June.

The funding round saw participation from five investors, including Baring Private Equity India and Anchorage Capital Fund.

Baring Private Equity India and Scarlet Ventures invested ₹15 crore each, while Anuj A. Sheth and Maithili Gagan Chaturvedi purchased 1.17 lakh shares each worth ₹5 crore. The remaining ₹60 crore came from Anchorage Capital Fund.

How The Company Plans To Use The Funds

A significant portion of the fresh issue proceeds has been earmarked for business expansion and debt reduction.

Out of the ₹400 crore being raised through the fresh issue, ₹175 crore will be used to repay certain borrowings, while ₹200 crore has been allocated for purchasing machinery and equipment. The balance amount from the IPO will be utilised for general corporate purposes.

Business Profile

Headquartered in Maharashtra, Caliber Mining and Logistics offers a range of mining-related services, including coal extraction, overburden removal, coal loading and unloading, road transportation, and rail logistics coordination.

Its operations are spread across Maharashtra, Chhattisgarh and Madhya Pradesh. The company's client base includes subsidiaries of Coal India Ltd., such as Western Coalfields Ltd. and Northern Coalfields Ltd.

DAM Capital Advisors is acting as the sole book-running lead manager for the IPO.

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