Caliber Mining IPO subscribed 23.37 times on day 2
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Caliber Mining and Logistics Ltd's IPO has seen strong demand, with a subscription rate of 23.37 times on the second day of bidding. The non-institutional investor category was particularly robust, subscribing 69.80 times, while retail investors subscribed 16.01 times. The IPO, priced between ₹402-424 per share, will close on July 21, aiming to raise ₹400 crore in fresh equity and ₹50 crore through an offer-for-sale.
The initial public offer of Caliber Mining and Logistics Ltd received 23.37 times subscription on the second day of bidding on Monday.
The IPO got bids for 18,30,92,000 shares against 78,35,821 shares on offer, as per NSE data.
The category for non-institutional investors got subscribed 69.80 times. The quota for retail investors received 16.01 times subscription and Qualified Institutional Buyers (QIBs) portion got subscribed 1.41 times.
Caliber Mining and Logistics Ltd on Thursday raised ₹135 crore from anchor investors.
The IPO has a fresh issue of equity shares worth ₹400 crore and an offer-for-sale (OFS) of shares worth ₹50 crore by promoters.
The issue, which has been priced in the range of ₹402-424 per share, will close on July 21.
Incorporated in 2014, Caliber Mining and Logistics provides integrated mining services, including overburden removal, coal extraction and coal logistics. The company operates across Maharashtra, Madhya Pradesh and Chhattisgarh.
It does not own any mines but offers end-to-end mining and logistics services to its customers.
DAM Capital Advisors Ltd is the book-running lead manager to the offer.
Original Article
Published on Hindu BusinessLine