Central Mine Planning IPO
Central Mine Planning & Design Institute (CMPDI) IPO was a Mainboard book-built issue of ₹1,842.12 crore, comprising an Offer for Sale (OFS) of 10.71 crore equity shares. The IPO price band was ₹163 to ₹172 per share, with a lot size of 80 shares.
Central Mine Planning IPO Details
Central Mine Planning IPO bidding started from Mar 20, 2026 and ended on Mar 24, 2026. The allotment for Central Mine Planning IPO was finalized on Mar 25, 2026. The shares got listed on NSE and BSE on Mar 30, 2026.
Central Mine Planning IPO Timeline (Tentative)
The Central Mine Planning & Design Institute (CMPDI) IPO timeline covers the key dates from the opening and closing of the IPO to allotment, refund/ASBA unblocking, credit of shares to Demat accounts, and listing on the stock exchanges. The IPO opened on March 20, 2026, and closed on March 24, 2026. The shares were listed on March 30, 2026.
| Event | Tentative Date |
|---|---|
| IPO Open Date | Fri, Mar 20, 2026 |
| IPO Close Date | Tue, Mar 24, 2026 |
| Basis of Allotment | Wed, Mar 25, 2026 |
| Initiation of Refunds | Fri, Mar 27, 2026 |
| Credit of Shares to Demat | Fri, Mar 27, 2026 |
| Listing Date | Mon, Mar 30, 2026 |
| IPO Opens | March 20, 2026 |
| IPO Closes | March 24, 2026 |
| Basis of Allotment | March 25, 2026 |
| Initiation of Refunds / ASBA Unblocking | March 27, 2026 |
| Shares Credited to Demat Accounts | March 27, 2026 |
| IPO Listing Date | March 30, 2026 |
Central Mine Planning IPO Lot Size
The CMPDI IPO lot size was fixed at 80 equity shares. At the upper price band of ₹172 per share, the minimum investment required for a retail investor was ₹13,760.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail – Minimum | 1 | 80 | 13,760 |
| Retail – Maximum | 14 | 1,120 | 1,92,640 |
| sNII – Minimum | 15 | 1,200 | 2,06,400 |
| bNII – Minimum | 73 | 5,840 | 10,04,480 |
Central Mine Planning IPO Reservation
Central Mine Planning IPO comprises a total issue size of 10,71,00,000 shares. The net offer to the public is 9,10,35,000 shares, after excluding 1,60,65,000 shares under a preferential allotment. Of the Net offer 4,55,17,500 (50.00%) are allocated to QIB, 1,36,55,250 (15.00%) allocated to NII 3,18,62,250 (35.00%) allocated to RII.
Central Mine Planning IPO Subscription
The CMPDI IPO subscription status indicates the demand received from Qualified Institutional Buyers (QIBs), Retail Individual Investors (RII), and Non-Institutional Investors (NII). The IPO closed with an overall subscription of around 1.05 times, with QIB demand significantly stronger than retail and NII participation.
| Category | Subscription (times) |
|---|---|
| QIB | 3.48x |
| RII | 0.33x |
| NII | 0.35x |
| Others | 0.36x |
| Total | 0.36x |
About Central Mine Planning
Incorporated in 1974, Central Mine Planning & Design Institute Limited (CMPDI) offers consultancy and support services across the entire spectrum of coal and mineral exploration and mine planning and design.
The company's services also include infrastructure engineering, environmental management, specialised technology services, and management systems, primarily for the coal industry and other minerals. They are one of the largest coal and mineral consultancy companies in India, with a market share of 61.0% in Fiscal 2025, and are the preferred consultant for Coal India Limited.
The company has following business Verticals:
- Geological Exploration and Resource Evaluation.
- Mine Planning and Design Services.
- Environmental Planning and Monitoring Services.
- Geomatics, Remote Sensing and Survey Services
The company is supported by advanced infrastructure that enables it to carry out a wide range of activities in the coal and minerals sector. As of March 31, 2025, it operates one of the largest fleets of exploratory drilling equipment for coal and mineral exploration in India.
As of December 31, 2025, the company operates seven regional institutes located in key coal-producing states, including Madhya Pradesh, Chhattisgarh, Odisha, and West Bengal. These institutes help the company manage projects efficiently on the ground and work closely with local mining operations. Its facilities and technical capabilities allow it to deliver reliable and high-quality services across its various business verticals. The company has also planned open-cast mines with an annual production capacity of up to 85 million tonnes and mining depths reaching up to 420 meters, highlighting its ability to handle large-scale mining projects.
In addition, as of December 31, 2025, the company operates a network of eight well-equipped laboratories across different coalfields. These laboratories are staffed by experienced technical professionals who specialize in coal testing and analysis, supporting the company’s exploration and quality assessment activities.
The company also actively participates in drilling and exploration initiatives in the coal and other minerals sector with support from the National Mineral Exploration and Development Trust (NMET). As of December 31, 2025, it had submitted eleven exploration proposals to NMET for minerals such as bauxite, copper and associated minerals, magnetite and associated minerals, and zinc and associated minerals. Out of these proposals, six projects were approved, and four of the approved projects have already been completed.
Competitive Strength:
- Multidisciplinary organization offering a comprehensive range of services.
- Key consulting partner to Coal India Limited and Ministry of Coal with a diverse client base.
- Extensive expertise in executing exploration projects.
- Advanced infrastructure supporting a spectrum of services.
- Operations driven by strong parentage of Coal India Limited
- Experienced management team supported by committed employee base
- Consistent track record of growth and financial performance
Strengths
- Strong position in mining consultancy: CMPDI is a major consultancy company providing services across coal and mineral exploration, mine planning, design, environmental management, and related areas.
- Strategic relationship with Coal India and the Ministry of Coal: Its association with Coal India and the government gives the company strong positioning in India's mining ecosystem.
- Extensive industry expertise: The company has decades of experience in mineral exploration, resource assessment, mine planning, and related technical services.
- Strong financial performance: Revenue increased from ₹1,398.78 crore in FY2023 to ₹2,177.53 crore in FY2025, while PAT increased from ₹296.66 crore to ₹666.91 crore.
- High profitability: CMPDI reported an EBITDA margin of around 42% in FY2025 and strong return ratios, supporting its asset-light consultancy business model.
- Debt-free balance sheet: The company had no significant debt, which reduces financial leverage and interest-cost risk.
Risks to Consider
- High customer concentration: A substantial portion of CMPDI's revenue comes from key customers, particularly Coal India and its subsidiaries, creating concentration risk.
- Dependence on government funding: Some exploration and drilling activities depend on government funding and schemes, making the business sensitive to government policies, budgets, and allocation priorities.
- 100% Offer for Sale: The IPO is entirely an OFS, meaning CMPDI itself does not receive IPO proceeds for expansion, debt reduction, or other corporate purposes.
- Dependence on the coal and mining sector: Changes in government energy policy, coal demand, mining activity, or the transition toward alternative energy sources could affect future business opportunities.
- Corporate governance compliance risk: At the RHP date, the company had certain reported non-compliances with applicable listing and Companies Act requirements relating to board composition and committees.
- Absence of credit ratings: CMPDI had not obtained credit ratings during the stated periods, which could potentially affect borrowing terms or access to financing in the future.
- Receivables risk: The company's business has faced relatively long collection cycles, which can affect working capital and cash flows.
Central Mine Planning Financials (₹ Cr)
The financial performance of Central Mine Planning & Design Institute Limited (CMPDI) shows strong growth in revenue and profitability over the reported financial years. Revenue increased from ₹1,398.78 crore in FY2023 to ₹2,177.53 crore in FY2025, while PAT increased from ₹296.66 crore to ₹666.91 crore during the same period.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| 9M FY2026* | 1,543.93 | 425.36 | 2,911.12 | 2,153.78 |
| FY2025 | 2,177.53 | 666.91 | 2,682.80 | 2,041.85 |
| FY2024 | 1,770.18 | 503.23 | 2,171.37 | 1,591.61 |
| FY2023 | 1,398.78 | 296.66 | 1,919.53 | 1,217.65 |
KPIs & Valuation
The KPIs and valuation metrics help investors evaluate CMPDI's earnings, profitability, return ratios, and valuation at the IPO price. Based on the reported IPO financial data, the company had strong profitability and return ratios, while its valuation can be assessed using P/E and P/B multiples.
Objects of the Issue
The CMPDI IPO was entirely an Offer for Sale (OFS) by the existing shareholder, Coal India Limited. Therefore, CMPDI did not receive any proceeds from the IPO.
- Since the issue was an OFS:
- No fresh capital was raised by CMPDI.
- CMPDI did not receive any proceeds from the IPO.
- The proceeds from the Offer for Sale were received by the selling shareholder, Coal India Limited, after deducting applicable offer-related expenses and taxes.
Promoters, Lead Managers & Registrar
Central Mine Planning & Design Institute Limited (CMPDI) is a subsidiary of Coal India Limited and operates as a consultancy and engineering company for the mining sector. The IPO was an Offer for Sale by Coal India Limited.
Promoters
Lead Managers (BRLM)
Central Mine Planning IPO Review
How to Apply
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Investors could apply for the Central Mine Planning & Design Institute (CMPDI) IPO through the ASBA facility or the UPI payment mechanism during the IPO subscription period.
Steps to Apply Online
- Log in to your stockbroker's website or mobile trading application.
- Go to the IPO or Current IPOs section.
- Select CMPDI IPO.
- Enter the number of lots you want to apply for.
- Enter your bid price within the IPO price band of ₹163 to ₹172 per share, or select the Cut-off Price if eligible.
- Enter your registered UPI ID.
- Review the application details and submit the IPO application.
- Approve the UPI mandate request received from your bank.
- The application amount will be blocked in your bank account until the allotment process.
- If shares are allotted, they will be credited to your Demat account. For unsuccessful applications, the blocked amount will be released.
Last updated Aug 10, 2026.