IPO Overview
Central Mine Planning & Design Institute Limited (CMPDI) is India’s largest mining consultancy and engineering services company, operating as a wholly-owned subsidiary of Coal India Limited (CIL). The company provides technical and consultancy services across the lifecycle of mining projects, particularly in the coal and mineral sectors. Its core business activities include geological exploration and resource evaluation, mine planning and design, environmental management services, and geomatics and survey services.
CMPDI holds around 61% market share in the mining consultancy space in Fiscal 2025 and is the most preferred technical consultant for Coal India Limited. The company also plays a strategic advisory role by assisting the Ministry of Coal in national-level decisions and initiatives related to the coal sector.
CMPDI is a Mini Ratna (Category-I) company. The IPO is structured as a book-built issue and will be listed on both the BSE and NSE. The Central Mine Planning IPO consists entirely of an Offer for Sale (OFS) of 10.71 crore equity shares — meaning the company itself will not receive any proceeds from the public issue. The funds generated will go directly to the promoter and selling shareholder, Coal India Limited.
IPO Detailed Information
Issue Details
| Parameter | Details |
| IPO Type | Book Built – Mainboard |
| Listing Exchange | BSE & NSE |
| IPO Open Date | 20 March 2026 |
| IPO Close Date | 24 March 2026 |
| Anchor Investor Date | 18 March 2026 |
| Allotment Date | 25 March 2026 (Expected) |
| Refund Initiation | 27 March 2026 |
| Credit to Demat | 27 March 2026 |
| Listing Date | 30 March 2026 (Tentative) |
| Price Band | ₹163 – ₹172 per share |
| Face Value | ₹2 per share |
| Lot Size | 80 shares |
| Minimum Investment (Retail) | ₹13,760 (approx) |
| Issue Size | ₹1,842.12 crore |
| Fresh Issue | Nil |
| Offer For Sale (OFS) | 10,71,00,000 shares (₹1,842.12 crore) |
Note: The entire IPO is an Offer for Sale. The company will not receive any proceeds — all funds will go to the promoter, Coal India Limited.
Issue Break-up
| Category | Allocation |
| Qualified Institutional Buyers (QIB) | ~50% |
| Non-Institutional Investors (NII) | ~15% |
| Retail Individual Investors (RII) | ~35% |
| Employee Reservation | Up to 53,55,000 shares |
| Shareholder Reservation | Up to 1,07,10,000 shares |
Eligible employees will receive a discount of ₹8 on the Offer Price under the Employee Reservation Portion.
OFS / Selling Shareholders
Under the OFS, Coal India is the promoter and sole selling shareholder. There is no fresh issue component, meaning the entire ₹1,842 crore raised will go to Coal India Limited.
Shareholder Quota: Investors who held at least 1 share of Coal India Limited on or before 11 March 2026 were eligible to apply under the shareholder reservation category, which improves allotment probability as applications compete within a smaller reserved pool.
Objects of the Issue (Fund Utilization)
Since the IPO is entirely an OFS, the company will not receive any IPO proceeds. The promoter selling shareholder — Coal India Limited — will receive all proceeds after deduction of offer-related expenses.
Lead Managers & Registrar
- Book Running Lead Managers: IDBI Capital Markets & Securities Ltd. and SBI Capital Markets Ltd.
- Registrar to the Issue: Kfin Technologies Ltd.
- Email: [email protected]
- Allotment Check: https://ipostatus.kfintech.com/
Promoters & Management
The promoters of the company are the President of India, acting through the Ministry of Coal, Government of India, and Coal India Limited.
Coal India Limited holds 71,40,00,000 equity shares, representing 100% of the paid-up equity share capital prior to the issue.
Key Management:
- CMD: Shri Chaudhari Shivraj Singh
- CFO: Shri Sudip Dasgupta
- Director – Business Development: Shri Asheesh Kumar (Coal India Ltd.)
Company Details
Established in 1974, CMPDI is one of India’s leading mining consultancy organizations, providing specialized services across the entire value chain of coal and mineral exploration, mine planning, and mine design.
Sectors Served:
- Coal Mining & Exploration
- Mineral Consultancy (including critical minerals)
- Environmental Management
- Infrastructure Engineering
- Geomatics & Remote Sensing
Key Capabilities:
- One of the largest fleets of exploratory drills for coal and minerals in India (as of March 31, 2025)
- 7 regional institutes and 8 specialized laboratories across key coal-producing states to support exploration and mining projects
- Advanced geomatics, remote sensing, and survey infrastructure
Regional Presence: As of December 31, 2025, the company operates seven regional institutes in key coal-producing states such as Jharkhand, Maharashtra, Madhya Pradesh, Chhattisgarh, Odisha, and West Bengal, facilitating on-ground project management and collaboration with local mining operations.
Certifications / Status:
- Mini Ratna (Category-I) PSU
- Subsidiary of Coal India Limited (Navratna PSU)
- Nodal agency for Ministry of Coal schemes and science & technology projects
Financial Snapshot
| Period | Total Income (₹ Cr) | PAT (₹ Cr) | EBITDA (₹ Cr) |
| FY23 | ₹1,398.78 | ₹296.66 | ₹395.65 |
| FY24 | ₹1,770.18 | ₹503.23 | ₹764.44 |
| FY25 | ₹2,177.53 | ₹666.91 | ₹915.71 |
Key Financial Metrics
- Revenue growth CAGR of ~23% over 2 years; PAT margin at ~50% in FY25, showcasing strong profitability.
- Revenue surged 23% and PAT rose 33% between FY24 and FY25.
Company Strengths
- Dominant market position — holds ~61% market share in mining consultancy in India and is the preferred consultant for Coal India Limited.
- Strong and consistent revenue and profit growth with zero debt.
- Acts as nodal agency for Ministry of Coal — deeply embedded in India’s national coal policy and mining ecosystem.
- Largest fleet of exploratory drills for coal and minerals in India, with advanced infrastructure across all business verticals.
- Government-backed PSU with Mini Ratna (Category-I) status — providing stability and long-term demand visibility.
- Diversifying into critical minerals like lithium and rare earth elements, and emerging technologies like Underground Coal Gasification (UCG) and Coal Bed Methane (CBM).
Key Risks & Challenges
- Pure OFS — No funds to company: The company receives zero proceeds from this IPO, as all money goes to Coal India.
- Heavy dependence on Coal India: A significant portion of revenue is tied to CIL and its subsidiaries, making the business non-diversified in terms of client base.
- Coal sector ESG risks: Growing global pressure to reduce coal dependence may impact long-term demand for coal-focused consultancy services.
- Government/PSU governance risks: Being a PSU subsidiary, strategic decisions may be influenced by government policy rather than purely commercial considerations.
- No growth capital: Since there is no fresh issue, this IPO adds no new funds to expand business operations.
Disclaimer
This document is for informational purposes only and should not be considered as investment advice. Investors should read the Red Herring Prospectus (RHP) carefully and consult a financial advisor before investing in any IPO. Market investments are subject to risk.
