Caliber Mining & Logistics IPO: Check day 2 subscription status, fresh GMP, details & more

The initial public offering (IPO) of Caliber Mining & Logistics continued to see a solid response from the investors on the second day of the bidding process thanks to HNI and retail investors. The issue, which kicked off on Friday, July 17, was overall full subscribed on the first day of the bidding.

Caliber Mining & Logistics is selling its shares in the price band of Rs 402-424 apiece. Investors can apply for a minimum of 35 shares and its multiples thereafter. It is looking to raise Rs 450 crore via IPO, which includes a fresh share sale of Rs 400 crore and an offer-for-sale (OFS) of up to 11,79,245 equity shares worth Rs 50 crore.

According to the data, the investors made bids for 9,60,51,585 equity shares, or 12.26 times, compared to the 78,35,821 equity shares offered for the subscription by 12.50 pm on Monday, July 20, 2026. The bidding for the issue shall continue for three trading days and close for bidding on Tuesday, July 21.

The allocation for non-institutional investors (NIIs) was subscribed 34.46 times, while the portion reserved for retail investors saw a subscription of 9.53 times. The portion reserved for qualified institutional bidders (QIBs) was subscribed more than 38 per cent as of the same time.

Incorporated in 2014, Chandrapur-based Caliber Mining & Logistics is an integrated service provider specializing in coal extraction and coal logistics. Based in Maharashtra, the company offers comprehensive mining and logistics services, including coal extraction, overburden removal, coal loading and unloading, road transportation, and rail transportation coordination.

Ahead of its IPO, Caliber Mining & Logistics raised Rs 134.99 crore from anchor investors as it allocated 31, 83, 961 shares at Rs 424 apiece. Caliber Mining reported a net profit of Rs 157.90 crore with a revenue of Rs 1,684.66 crore for the financial year ended on March 31, 2026. It clocked a net profit at Rs 131.55 crore with a revenue of Rs 1,435.57 crore for the year 2024-25.

The net proceeds from the fresh issue will primarily be utilized towards repayment/prepayment of borrowings and capex for purchase of machinery, strengthening the company’s balance sheet and supporting future growth The IPO is valued at a post-issue P/E of 17.5 times and P/B of 3.5 times based on FY26 earnings, which appears attractive compared to listed peers, said Angel One.

“It is supported by a strong order book of Rs 9,550, providing healthy revenue visibility, while the fresh issue proceeds will be utilized primarily for debt reduction and capacity expansion, strengthening its balance sheet and supporting future growth. Considering its strong growth outlook and favourable industry tailwinds, we suggest subscribing to the issue for medium- to long-term investors,” it added.

Caliber Mining has reserved 50 per cent for the issue for the qualified institutional bidders (QIBs), while 15 per cent shares are reserved for non-institutional investors (NIIs). Retail investors have 35 per cent of shares allocated towards them. At the current valuations, the company commands a market capitalization close to Rs 2,780 crore.

Caliber Minings has a growing share of business in the mining industry and from Coal India subsidiaries backed by a strong order book. It has a proven track record of growth with financial performance & industry experience and legacy led promoters supported by a management team and professionals, said Hem Securities with a ‘subscribe’ rating for the issue.

Last heard, Caliber Mining & Logistics was commanding a grey market premium (GMP) of Rs 110-115, suggesting a listing pop of 25-27 per cent for the investors. DAM Capital Advisors is the sole book running lead manager for Caliber Mining & Logistics IPO and Kfin Technologies Ltd is the registrar of the issue. Shares of the company shall be listed on both BSE Ltd and NSE on July 24, Friday.