Central Mine Planning & Design Institute IPO Opening Tomorrow With ₹1,842 Crore OFS Issue

Mumbai, March 19: Central Mine Planning & Design Institute Limited’s IPO will open for subscription on Friday, marking the start of a ₹1,842.12 crore public issue structured entirely as an offer for sale.

The offering comes following regulatory filings and prospectus disclosures indicating that 10.71 crore shares are being offloaded by existing shareholders, with no fresh capital being raised by the company. The issue will remain open until March 24, 2026, as per the exchange schedule.

Issue Structure And Key Terms

The IPO is a book-built issue, a process where investors bid within a specified price band and the final price is determined based on demand. For this issue, the price band has been fixed at ₹163 to ₹172 per share.

The lot size is set at 80 shares, meaning retail investors must apply for at least this quantity. At the upper price band, the minimum investment stands at ₹13,760.

Since the issue is entirely an offer for sale, proceeds will go to selling shareholders rather than the company itself. This is a notable structural element, often seen in government-backed or divestment-linked offerings.

Subscription Window And Listing Timeline

The subscription window runs from March 20 through March 24, 2026. The allotment of shares is expected to be finalized on March 25, 2026.

Subsequent timelines are tightly sequenced. Refunds are likely to be initiated by March 27, with shares credited to demat accounts on the same day. The tentative listing date has been set for March 30, 2026, on both BSE and NSE.

Such timelines follow the standard T+3 listing cycle currently adopted in Indian primary markets.

Central Mine Planning & Design Institute IPO Timeline

The IPO timeline follows a standard T+3 listing cycle, with key milestones outlined below:

Investor Categories And Allocation

The issue has a structured reservation across investor segments. Qualified Institutional Buyers (QIBs) are allocated up to 50% of the offer, while retail investors are guaranteed not less than 35%.

Non-institutional investors (NIIs), which include high-net-worth individuals, are allocated at least 15% of the issue.

For retail investors, bidding at the cut-off price is permitted. This means investors agree to purchase shares at the final discovered price, improving chances of allotment in competitive issues.

Lot Size And Investment Thresholds

Retail investors can bid starting with one lot of 80 shares and up to a maximum of 14 lots. This caps the retail application amount within the ₹2 lakh regulatory threshold.

For larger investors, the structure expands. Small HNIs (sNII) must apply for a minimum of 15 lots, while big HNIs (bNII) begin at 73 lots.

This segmentation ensures proportional allocation across investor classes while maintaining regulatory compliance.

Company Background And Financial Snapshot

Incorporated in 1974, Central Mine Planning & Design Institute Limited (CMPDI) operates as a consultancy and engineering services provider in the coal and mineral sector. The company is closely associated with Coal India Limited and plays a central role in mine planning, exploration, and project design.

Financially, the company has shown consistent profitability. Profit after tax stood at ₹425.36 crore for the period ended December 31, 2025, compared to ₹666.91 crore for FY25 and ₹503.23 crore in FY24.

Its net worth has also expanded steadily, reflecting accumulated reserves and retained earnings. The company reported reserves and surplus of ₹2,010.98 crore as of December 2025.

Intermediaries And Listing Details

The issue is being managed by IDBI Capital Markets Services Limited, acting as the book-running lead manager. KFin Technologies Limited has been appointed as the registrar to the issue.

The shares are proposed to be listed on both BSE and NSE, with March 30, 2026, indicated as the tentative debut date.

Understanding The Offering Context

A book-building IPO allows price discovery based on investor demand within a predefined range. Investors submit bids specifying quantity and price, and the final issue price is determined after the subscription period closes.

In an offer for sale structure, existing shareholders dilute their holdings, unlike fresh issues where companies raise new capital for expansion or debt reduction.

This distinction is central to understanding the intent and capital flow dynamics of the offering.

Source: https://www.sebi.gov.in/filings/public-issues/mar-2026/central-mine-planning-and-design-institute-limited-rhp_100326.html