Caliber Mining & Logistics' Rs 450-crore IPO entered its second day of bidding on Monday, attracting strong investor interest. The momentum is also reflected in the grey market, where the stock is commanding a Grey Market Premium (GMP) that signals a potential 27% listing gain over the upper price band.
The IPO got off to a solid start, with the issue fully subscribed on Day 1. It received bids for 1.21 times the 78.35 lakh shares on offer, led by robust participation from retail investors. The Retail Individual Investors (RII) category was subscribed 1.58 times against the 39.17 lakh shares reserved for the segment.
The company aims to raise Rs 450 crore through the public issue, comprising a fresh issue of 94 lakh equity shares worth Rs 400 crore and an Offer for Sale (OFS) of 12 lakh equity shares aggregating Rs 50 crore.
The three-day IPO will remain open for subscription until July 21, 2026. The basis of allotment is expected to be finalized on July 22, while the shares are likely to debut on the NSE and BSE on July 24, 2026.
The company has fixed the price band at Rs 402-424 per share. Investors can apply in a minimum lot of 35 shares, translating into a minimum investment of Rs 14,840 at the upper end of the price band.
Ahead of the public issue, Caliber Mining & Logistics raised Rs 134.99 crore from anchor investors by allotting 31.84 lakh equity shares at Rs 424 apiece.
The anchor book saw participation from several marquee institutional investors, including Ashoka India Equity Investment Trust Plc, Carnelian India Amritkaal Fund, and Abakkus Four2Eight Opportunities Fund. Domestic investors such as Quant Mutual Fund and Helios Small Cap Fund also backed the issue. Notably, 15.33 lakh equity shares were allotted to two domestic mutual funds across five schemes, highlighting strong institutional confidence ahead of the IPO.
DAM Capital Advisors Ltd. is the book-running lead manager for the issue, while KFin Technologies Ltd. is serving as the registrar.
Caliber Mining & Logistics IPO subscription status
Caliber Mining & Logistics' IPO witnessed a strong response from investors on the opening day, with the issue being subscribed 1.21 times. The company received bids for 78.35 lakh shares against the shares on offer.
The Retail Individual Investors (RII) segment led the demand, getting subscribed 1.58 times against the 39.17 lakh shares reserved for the category.
The Non-Institutional Investors (NII) portion was also fully booked, attracting 1.59 times subscription on the 16.79 lakh shares allocated. Meanwhile, the Qualified Institutional Buyers (QIB) category was subscribed 29%, with bids received for the 22.38 lakh shares on offer.
The healthy participation from retail and high-net-worth investors reflects strong early interest in the public issue.
Caliber Mining & Logistics GMP today
In the grey market, Caliber Mining & Logistics shares are commanding a Grey Market Premium (GMP) of around Rs 115, implying a potential listing gain of about 27% over the upper price band of Rs 424. Based on the prevailing GMP, the stock is estimated to list at around Rs 539 per share.
Investors should note that the GMP is an unofficial market indicator driven by demand in the grey market and should not be considered the sole factor while making investment decisions.
Established in 2014, Caliber Mining & Logistics is an integrated mining services company offering end-to-end solutions across the coal mining value chain. Its services include overburden removal, coal extraction, loading and unloading, road transportation, and rail logistics coordination.
The company primarily caters to subsidiaries of Coal India Ltd., with Western Coalfields Ltd. (WCL) and Northern Coalfields Ltd. (NCL) among its major clients.
Caliber entered the coal logistics business in FY16, providing integrated transportation solutions. In FY23, it diversified into the iron ore logistics segment, expanding its service portfolio beyond coal.
The company's mining and logistics operations are spread across Maharashtra, Chhattisgarh, and Madhya Pradesh, strengthening its presence in India's key mining regions.
How will the IPO proceeds be utilized?
Caliber Mining & Logistics plans to use the proceeds from the fresh issue to strengthen its balance sheet and enhance its operational capabilities.
Out of the total proceeds, Rs 175 crore will be allocated towards the repayment or prepayment of existing borrowings. Another Rs 200 crore has been earmarked for capital expenditure, primarily to acquire new machinery and equipment that will support the company's expansion plans. The remaining funds will be utilized for general corporate purposes.
