Caliber Mining & Logistics' Rs 450-crore IPO witnessed overwhelming investor demand on the third and final day of bidding, closing with an overall subscription of 146.63 times against the 78.35 lakh shares on offer. Retail participation remained strong, with the Retail Individual Investors (RII) portion subscribed 41.14 times against the 39.17 lakh shares reserved for the category.
Investor optimism has also spilled over into the grey market. The stock is currently commanding a Grey Market Premium (GMP) of around Rs 94, indicating a potential listing gain of nearly 22% over the IPO's upper price band of Rs 424. Based on the prevailing GMP, the shares are expected to debut at around Rs 518 apiece.
The public issue aims to raise Rs 450 crore, comprising a fresh issue of 94 lakh equity shares worth Rs 400 crore and an Offer for Sale (OFS) of 12 lakh shares aggregating Rs 50 crore.
The basis of allotment is likely to be finalised on July 22, while the company's shares are expected to list on the NSE and BSE on July 24, 2026.
Caliber Mining & Logistics has fixed the price band at Rs 402-424 per share, with investors required to bid for 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 IPO, the company mobilised Rs 134.99 crore from anchor investors by allotting 31.84 lakh equity shares at Rs 424 apiece.
The anchor book drew strong participation from marquee 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. Reflecting healthy institutional appetite, two domestic mutual funds subscribed to 15.33 lakh equity shares across five schemes.
DAM Capital Advisors is the book-running lead manager to the issue, while KFin Technologies is the registrar.
Caliber Mining & Logistics IPO subscription status
At the end of Day 3, the IPO had been subscribed 147 times overall. Here's a category-wise breakdown
Retail Individual Investors (RII): The catergory saw subscription of 41 times for 39.17 lakh shares reserved.
Non-Institutional Investors (NII): The catergory saw subscription of 267 times for 16.79 lakh shares reserved.
Qualified Institutional Buyers (QIB): The catergory saw subscription of 241 times for 22.38 lakh shares reserved.
Caliber Mining & Logistics GMP today
In the grey market, Caliber Mining & Logistics shares continue to trade at a GMP of around Rs 94, implying a potential listing price of nearly Rs 518 per share, or a premium of about 22% over the IPO's upper price band of Rs 424.
Investors should note that the Grey Market Premium is an unofficial indicator based on market sentiment and unregulated trading activity. While it offers clues about listing expectations, it should not be considered the sole basis for investment decisions.
About Caliber Mining & Logistics
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.
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