Central Mine Planning IPO GMP Today: Coal India Arm Subscribed Only 7% On Day 1: Should You Bid CMPDI IPO?

Central Mine Planning IPO GMP Today: Coal India's subsidiary, Central Mine Planning and Design Institute (CMPDI), received a lukewarm response from primary investors on the first day of its subscription, ie on Friday, March 20. CMPDI IPO Grey Market Premium (GMP) also saw a sharp decline on Friday.

The IPO saw a zero participation in the QIB (ex-anchor) category while there was some subscription in other categories. For primary market investors who are closely tracking CMPDI IPO, here are the latest updates about it.

Central Mine Planning IPO Day 1 Subscription

The CMPDI IPO was subscribed around 0.07 times on day 1, ie Friday, March 20. The IPO was subscribed 0.10 times in the retail category, 0.00 times in the QIB (ex-anchor) category and 0.05 times in the NII category at 5:05 pm on Friday, March 20.

CMPDI IPO GMP Today

The Central Mine Planning (CMPDI) IPO GMP today saw a sharp decline on Friday, March 20. The IPO gmp today declined to Re 1 on Friday, as per investorgain.com. Considering CMPD (CMPDI) IPO's latest GMP Today, the company is likely to be listed at Rs 173 (which is the sum of upper price band and IPO GMP Today). The expected price percentage gain or loss per share is likely to be 0.58%, as per the website.

CMPDI IPO: Should You Subscribe?

CMPDI is one of the largest coal and mineral consultancy company in India. The IPO has delivered a robust performance with REVENUE/EBITDA/PAT growing at a robust 23%/48%/50% CAGR over FY23-25,as per ICICI Securities report. The brokerage has also mentioned that the steady coal-based power demand and increasing exploration opportunities in non-coak and critical minerals, will also help in providing long-term growth visibility.

Should You Subscribe?

ICICI Securities has assigned a 'Subscribe' rating to CMPDI IPO. "At the upper end of the price band, CMPDI is valued at ~18x P/E on FY25 basis, which appears attractive considering its strong double-digit margins, healthy return ratios, net cash positive balance sheet, and robust growth prospects. Henceforth, we assign SUBSCRIBE rating on Central Mine Planning and Design Institute," read the ICICI Securities IPO note on CMPDI IPO.

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