Caliber Mining IPO

The Caliber Mining mainboard IPO is open between 17 Jul 2026 and 21 Jul 2026, offered at a price band of ₹402–424 per share, and is set to list on NSE and BSE. The IPO seeks to raise ₹450 crore. Retail investors bid in lots of 35 shares, a minimum application of ₹14,840.

Issue structure

The offer combines a fresh issue of ₹400 crore with an offer for sale (OFS) of ₹50 crore by existing shareholders. Money raised through the fresh issue goes to the company for its stated objects, while OFS proceeds go to the selling shareholders rather than the business.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward repayment/ prepayment, in full or part, of certain borrowings availed by the company (₹208 crore), alongside funding capital expenditure for purchase of machinery (₹167 crore). In all, 4 objects are disclosed — the full break-up is in the table above.

Financials

In FY2026, Caliber Mining reported revenue of ₹1,684.66 crore and a net profit of ₹157.9 crore. Revenue grew from ₹957.92 crore in FY2024 to ₹1,684.66 crore in FY2026 (+76.0%). Net worth stood at ₹647.54 crore at the end of FY2026. At the upper band, that puts the issue at roughly 15.0× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 17.55× post-issue earnings and 7.33× book value, against a return on net worth of 24.38% and a debt-to-equity ratio of 1.63. These ratios come from the offer document and are for comparison, not a recommendation.

Peer comparison

The offer document names listed peers including Dilip Buildcon Ltd and Ncc Limited, with a median peer P/E of about 18.3×. The issue's own post-issue P/E works out to 17.55×.

Promoters

The promoters of the company are <p>Mohit Satishkumar Chadda, Anuj Krishanlal Chadda, Manish Krishanlal Chadda, Rahul Roshanlal Chadda, Priya Anuj Chadda</p>. Promoter holding stands at 88.79% before the issue and comes down to 74.18% after listing.

Grey market premium (GMP)

In the unofficial grey market, Caliber Mining shares are quoted at a premium of ₹64 implying an expected listing around ₹488, about +15.1% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

Subscription

The Caliber Mining IPO was subscribed 154.66 times overall. The strongest demand came from non-institutional investors (NII) at 281.99 times, with qualified institutional buyers (QIB) at 253.88× and retail investors at 43.4×.

Listing performance

Caliber Mining listed on 24 Jul 2026 at ₹504, a premium of +18.9% over the issue price of ₹424.

What to weigh

When evaluating the Caliber Mining IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Caliber Mining

Caliber Mining and Logistics Limited is an integrated mining services company that provides end-to-end solutions across the coal value chain. Its operations cover coal extraction, overburden removal, transportation, rake loading, rail logistics management, and coal trading, enabling customers to outsource multiple mining and logistics activities to a single service provider. The company primarily serves subsidiaries of Coal India Limited (CIL) , with key clients including Western Coalfields Limited (WCL) and Northern Coalfields Limited (NCL) . Its mining operations are concentrated in the states of Maharashtra, Chhattisgarh, and Madhya Pradesh , where it undertakes open-cast mining projects using heavy earthmoving equipment such as excavators, dozers, and dump trucks. Caliber entered the logistics business in FY2016 , initially offering coal loading, unloading, and road transportation services. Over time, it expanded its capabilities to include rail logistics coordination, rake loading, and, from FY2023 , logistics solutions for the iron ore sector. The company also operates a coal trading business by procuring coal from WCL and the open market and supplying it to power plants and other industrial customers. Business Segments Coal Mining Services: Executes coal extraction and overburden removal contracts for mine owners, primarily Coal India subsidiaries, through mechanized open-cast mining operations. Mining Logistics: Provides road transportation, loading, and unloading services for coal and iron ore using its fleet and logistics network. Rake Loading Services: Manages loading of coal onto railway rakes, including wagon inspection, cleaning, loading, weighing, and dispatch. Rail Logistics Coordination: Coordinates the movement of coal for power plants by overseeing rake allocation, loading schedules, quality monitoring, weighing, and timely deliveries. Coal Trading: Purchases coal from WCL and other suppliers for resale to power producers and commercial customers. Competitive Strengths Integrated service offerings spanning mining, logistics, rail coordination, and coal trading. Strong execution capabilities and operational efficiency, supporting repeat business and new contract wins. Long-standing relationships with Coal India subsidiaries, backed by an order book of ₹5,084.71 crore as of October 31, 2024 . Consistent financial growth supported by expanding mining and logistics operations. Experienced promoters and an established management team with deep expertise in the mining and logistics industry.