Caliber Mining and Logistics Sets IPO Price Band at ₹402 to ₹424 per Share
The Indian mining services firm has set a price band for its ₹450 crore initial public offering, aiming to reduce debt and fund machinery purchases amid steady demand for coal logistics.
Caliber Mining & Logistics Limited has set the price band for its initial public offering at ₹402 to ₹424 per equity share. The ₹450 crore issue comprises a ₹400 crore fresh issuance and a ₹50 crore offer for sale by promoters Mohit Satishkumar Chadda, Anuj Krishanlal Chadda, Manish Krishanlal Chadda, and Rahul Roshanlal Chadda.
Book building for the IPO will open on Friday, 17 July, and close on Tuesday, 21 July, following anchor investor allocation on 16 July. Shares are expected to list on the Bombay Stock Exchange and National Stock Exchange on Friday, 24 July.
Strategic Capital Allocation
The company plans to deploy ₹175 crore of the fresh proceeds toward debt repayment or prepayment. Another ₹200 crore is earmarked for capital expenditure, specifically the purchase of machinery, with the remaining balance allocated to general corporate purposes.
This capital injection is strategically timed as the firm seeks to scale its operational capacity in a sector heavily reliant on state-owned demand. Caliber primarily serves subsidiaries of Coal India, with Western Coalfields Ltd and Northern Coalfields Ltd counting among its most significant clients.
Operational Footprint
Founded in 2014, the company provides end-to-end mining services across the value chain. Its capabilities range from overburden removal and coal loading to comprehensive road and rail logistics coordination. These mining and overburden removal activities are currently concentrated across the states of Maharashtra, Chhattisgarh, and Madhya Pradesh.
The firm has also moved to diversify its revenue streams beyond coal. During fiscal year 2023, it expanded its logistics offerings by formally entering the iron ore industry. For the current public issue, up to 50 percent of the shares are reserved for qualified institutional buyers, while retail investors are guaranteed a minimum 35 percent allocation.
DAM Capital Advisors Ltd is acting as the book-running lead manager for the transaction, guiding the pricing and marketing process. KFin Technologies Ltd has been appointed as the registrar to manage the final allotment, scheduled for 22 July, and the subsequent refund processes.
