Caliber Mining & Logistics IPO listing tomorrow. Here's what GMP signals ahead of debut
AI Summary
Caliber Mining & Logistics is set to debut on the stock market on July 24, with shares listed on both BSE and NSE. The IPO, which opened for subscription on July 17 and closed on July 21, was oversubscribed by 146.64 times, indicating strong investor interest. The shares are expected to list at a premium, with an estimated price of ₹501, reflecting an 18.16% increase over the IPO price of ₹424.
Caliber Mining & Logistics IPO listing: The shares of Caliber Mining & Logistics IPO is all set to make its stock market debut on Friday, 24 July. The shares of Caliber Mining & Logistics IPO will be listed on both exchanges BSE and NSE.
The allotment of Caliber Mining & Logistics IPO was finalised Wednesday, 22 July.
Caliber Mining and Logistics is an integrated mining services company specialising in coal extraction and logistics. Based in Maharashtra, the company provides end-to-end solutions, including coal extraction, loading and unloading, overburden removal, road transportation, and coordination of rail transportation for coal movement.
The shares of Caliber Mining & Logistics IPO are commanding a strong premium in the grey market, as per websites tracking the unlisted market. According to Investorgain, the GMP of Caliber Mining & Logistics IPO is ₹77.
This means that the estimated listing price is likely to ₹501, which is 18.16% higher than the IPO price of ₹424.
The ₹450-crore IPO opened for subscription on July 17 and closed on July 21.
The ₹450-crore IPO consists of a fresh issue of 94 lakh equity shares worth ₹400 crore and an Offer for Sale (OFS) of 12 lakh shares valued at ₹50 crore.
The public issue received an overwhelming response from investors, with the IPO being subscribed 146.64 times during the three-day bidding window. According to NSE data, the issue attracted bids for 1,14,90,37,400 shares against the 78,35,821 shares available for subscription.
The company has fixed the price band at ₹402-424 per share. Investors can bid for a minimum of 35 shares, requiring a minimum investment of ₹14,840 at the upper price band.
The proceeds from the fresh issue will primarily be utilised to repay debt and fund capital expenditure for the purchase of commercial vehicles, plant and machinery. The remaining funds will be used for general corporate purposes.
Ahead of the IPO opening, Caliber Mining & Logistics raised ₹134.99 crore from anchor investors by allotting 31.84 lakh equity shares at ₹424 apiece.
The anchor round saw participation from several prominent institutional investors, including Ashoka India Equity Investment Trust Plc, Carnelian India Amritkaal Fund, Abakkus Four2Eight Opportunities Fund, Quant Mutual Fund, and Helios Small Cap Fund. In addition, two domestic mutual funds subscribed to 15.33 lakh equity shares through five schemes, reflecting robust institutional interest.
DAM Capital Advisors is the book-running lead manager for the issue, while KFin Technologies has been appointed as the registrar.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in.
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