Caliber Mining and Logistics shares list at 19% premium over IPO price on BSE

Caliber Mining and Logistics made a strong debut on the stock exchanges on Friday, listing at a premium of nearly 19% over its IPO price.

The stock opened at Rs 504 on the BSE against the issue price of Rs 424, translating into a 18.87% premium. On the NSE, it debuted at Rs 500.25, up 17.98% from issue price.

The listing exceeded grey market expectations. Ahead of the debut, the stock was commanding a grey market premium (GMP) of Rs 60, implying an estimated listing price of Rs 484 or a 14.15% gain over the IPO price.


The Rs 450 crore mainboard IPO received an overwhelming response from investors, closing with an overall subscription of 156.63 times against the 78.35 lakh shares on offer during the three-day bidding period.

Demand was robust across categories. The Retail Individual Investors (RII) portion was subscribed 41.14 times against the 39.17 lakh shares reserved for the segment. The Non-Institutional Investors (NII) category was booked 267 times against the 16.79 lakh shares set aside, while the Qualified Institutional Buyers (QIB) portion was subscribed 241 times against the 22.38 lakh shares reserved.

Caliber Mining & Logistics, incorporated in 2014, is an integrated mining services provider that offers end-to-end solutions across the coal mining value chain. Its operations span overburden removal, coal extraction, loading and unloading, road transportation, and rail logistics management.

The company derives a significant portion of its business from subsidiaries of Coal India Ltd., with Western Coalfields Ltd. (WCL) and Northern Coalfields Ltd. (NCL) among its key customers.

After entering the coal logistics business in FY16 with integrated transportation services, Caliber expanded into iron ore logistics in FY23, broadening its service offerings beyond coal.

The company intends to deploy the IPO proceeds to improve its financial position and expand its operational capacity. Of the fresh issue proceeds, Rs 175 crore will be used to repay or prepay outstanding borrowings, while Rs 200 crore has been earmarked for capital expenditure, including the purchase of new machinery and equipment. The remaining amount will be used for general corporate purposes.

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