Caliber Mining IPO Listing: Shares List Nearly 19% Higher On BSE, 18% Up On NSE

Caliber Mining and Logistics made a strong stock market debut on Friday, with their shares listing at a premium of nearly 19% over the initial public offering (IPO) price after the issue drew heavy demand from investors.

Caliber Mining And Logistics Listing Today

Caliber Mining and Logistics’ shares opened at ₹504 a piece on the Bombay Stock Exchange (BSE) against its issue price of ₹424, marking a listing premium of 18.87%. On the National Stock Exchange (NSE), the shares debuted at ₹500.25, up 17.98% from the IPO price.

The listing follows a strong response to the company's ₹450 crore mainboard IPO, which closed with an overall subscription of 156.63 times. Investors bid for shares well above the 78.35 lakh shares offered during the three-day subscription window. In the Caliber Mining And Logistics IPO:

• The retail portion received bids for 41.14 times the 39.17 lakh shares reserved for the segment.

• The non-institutional investor category attracted the strongest interest. Subscriptions reached 267 times against the 16.79 lakh shares allocated.

• The qualified institutional buyer portion was subscribed 241 times over the 22.38 lakh shares set aside for institutional investors.

Business And Key Customers

Incorporated in 2014, Caliber Mining & Logistics provides integrated mining services across the coal mining value chain. Its operations cover overburden removal, coal extraction, loading and unloading, road transportation, and rail logistics management.

A significant share of the company's business comes from subsidiaries of Coal India Ltd. Among its major customers are Western Coalfields Ltd. (WCL) and Northern Coalfields Ltd. (NCL).

Use Of IPO Proceeds

The company plans to use the IPO proceeds to strengthen its balance sheet and expand its operating capacity. According to the offer documents, Caliber Mining and Logistics will use:

• ₹175 crore from the IPO proceeds to repay or prepay outstanding borrowings.

• ₹200 crore has been earmarked for capital expenditure, including the purchase of new machinery and equipment.

The remaining funds will be utilised for general corporate purposes.

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