Business

Coal India arm CMPDI to launch IPO on March 20. All you need to know

Published

2 hours ago

13 March 2026

Coal India arm CMPDI to launch IPO on March 20. All you need to know

Central Mine Planning and Design Institute Ltd (CMPDI), a consultancy arm of Coal India, will open its IPO for subscription on March 20, with the public issue set to close on March 24. The IPO comprises an offer for sale of 10.71 crore shares, with the government and Coal India diluting part of their stake in the company.

As the issue is entirely an OFS, CMPDI will not receive any proceeds from the offer, and the funds raised will go to the selling shareholders. The company plans to list its shares on both the BSE and the NSE, with a tentative listing date of March 30.

CMPDI IPO price band

The price band, lot size and total issue size in rupee terms are yet to be announced. IDBI Capital Markets has been appointed as the book-running lead manager, while Kfin Technologies will act as the registrar to the issue.

CMPDI IPO structure

Under the proposed allocation structure, about 50% of the offer will be reserved for qualified institutional buyers (QIBs), 35% will be allocated to retail investors and a minimum of 15% to non-institutional investors. The IPO will also have shareholder and employee reservation categories, with eligibility for the shareholder quota extended to investors holding shares in Coal India.

About CMPDI

Incorporated in 1974, CMPDI provides consultancy and technical services across the entire value chain of coal and mineral exploration, mine planning and mine design. The company supports mining projects through services such as geological exploration, environmental planning, remote sensing, surveying and infrastructure engineering.

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CMPDI is one of the largest coal and mineral consultancy companies in India, commanding a 61% market share in FY25, and serves as the preferred consulting partner to Coal India, the world’s largest coal producer.The company operates through multiple business verticals, including geological exploration and resource evaluation, mine planning and design, environmental monitoring, and geomatics and remote sensing services.

CMPDI has significant technical infrastructure to support these activities. As of March 2025, the company operated one of the largest fleets of exploratory drilling equipment for coal and mineral exploration in India.

Its operations are supported by seven regional institutes located in key coal-producing states such as Madhya Pradesh, Chhattisgarh, Odisha and West Bengal, which help execute projects and coordinate closely with mining operations on the ground.

The company has also demonstrated capabilities in planning large-scale mining projects. It has designed open-cast mines with production capacities of up to 85 million tonnes annually and mining depths reaching 420 metres.

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In addition, CMPDI operates eight laboratories across major coalfields that specialise in coal testing and quality analysis. The company also participates in mineral exploration initiatives supported by the National Mineral Exploration Trust (NMET). As of December 2025, it had submitted 11 exploration proposals for minerals such as bauxite, copper, magnetite and zinc, of which six projects were approved and four completed.

Financials

Financially, CMPDI has delivered consistent growth in recent years. The company reported revenue of Rs 2,177 crore in FY25, up from Rs 1,770 crore in FY24. Profit after tax rose to Rs 667 crore in FY25, compared with Rs 503 crore a year earlier.

For the nine months ended December 2025, the company posted revenue of Rs 1,544 crore and profit after tax of Rs 425 crore.

The government currently holds CMPDI through the President of India acting via the Ministry of Coal and Coal India, which together own 100% of the company prior to the IPO.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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Hi, I’m Yiannis. Spotting winners before they break out is what I do best.Experience: Previously worked at Deloitte and KPMG in external/internal auditing and consulting. Education: Chartered Certified Accountant, Fellow Member of ACCA Global, with BSc and MSc degrees from U.K. business schools. Investment Style: Spotting high-potential winners before they break out, focusing on asymmetric opportunities (with at least upside potential of 3-5X outweighing the downside risk). By leveraging market inefficiencies and contrarian insights, we seek to maximize long-term compounding while protecting against capital impairment.Risk management is paramount—we seek a strong margin of safety to protect against capital impairment while maximizing long-term compounding. Our 2-3 year investment horizon allows us to ride out volatility, ensuring that patience, discipline, and intelligent capital allocation drive outsized returns over time.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of TSEM, AAOI, NVDA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.