The issue will be entirely an offer for sale, as CMPDIL will not issue any fresh shares. According to the draft prospectus, Coal India plans to sell up to 7.14 crore shares.
Central Mine Planning offers consultancy services for mine planning, coal and mineral exploration and, as per the draft papers, is the largest coal and mineral consultancy in India.
SBI Capital Markets and IDBI Capital Markets and Securities are the book-running lead managers to the IPO.
Activities related to listing of CMPDIL and Bharat Coking Coal Ltd (BCCL) ”are in progress”, according to a recent statement from Coal India.
Coal India is yet to publicly file papers for BCCL.
Earlier on May 19, Debasish Nanda, Coal India’s director of business development had said, “We are going to file DRHP soon. We are working on that.” Nanda was speaking to reporters on the sidelines of CII’s Mining and Construction Equipment Summit.
The coal ministry had earlier said the listing of both BCCL and CMPDI will take place, but the timing will depend on market conditions.
With agency inputs
