Caliber Mining & Logistics IPO: GMP signals modest listing gains; 10 key things to know from RHP

Caliber Mining & Logistics IPO: The initial public offering of Caliber Mining and Logistics is set to open for public subscription on Friday, 17 July, and will remain so until Tuesday, 21 July. Ahead of the issue, grey market is showing mild enthusiasm for Caliber Mining shares.

The grey market premium (GMP) of Caliber Mining & Logistics shares on Wednesday, 15 July, morning was ₹80, suggesting the stock could list at a 19% premium over the issue price.

Caliber Mining IPO is a book build issue, which combines a fresh issue of 94 lakh shares and an offer for sale (OFS) of 12 lakh shares. With a price band of ₹402 to ₹424 per share, the company aims to raise about ₹400 crore from the fresh issue of shares.

Caliber Mining IPO share allotment is expected to be finalised on Wednesday, 22 July, and the stock is expected to debut on the BSE and the NSE on Friday, 24 July.

Caliber Mining & Logistics IPO: 10 things from RHP

Ahead of the share sale coming Friday, here are the 10 key things that investors should know about Caliber Mining and Logistics IPO from the Red Herring Prospectus (RHP):

1. Caliber Mining & Logistics IPO details

Caliber Mining & Logistics IPO combines a fresh issue of 94 lakh shares to raise ₹400 crore and an OFS of 12 lakh shares, aggregating to ₹50 crore. Promoters Mohit Satishkumar Chadda, Anuj Krishanlal Chadda, Manish Krishanlal Chadda, and Rahul Roshanlal Chadda are selling some of their stakes for ₹12.50 crore each.

2. Caliber Mining & Logistics IPO book-running lead managers and registrar

As per the RHP, DAM Capital Advisors Limited is the book-running lead manager, while KFin Technologies Limited is the registrar of Caliber Mining & Logistics IPO.

3. Objects of the offer

The company will use the net proceeds from the fresh issue of shares to pay certain borrowings, to purchase commercial vehicles, plant and machinery, and for general corporate purposes.

4. Caliber Mining & Logistics promoters

Mohit Satishkumar Chadda, Anuj Krishanlal Chadda, Manish Krishanlal Chadda, Rahul Roshanlal Chadda, and Priya Anuj Chadda are the promoters of the company.

Cumulatively, till the filing of RHP, they held 4,96,50,000 shares, representing 88.75% of the issued, subscribed and paid-up share capital of the company.

5. Caliber Mining & Logistics' management

The company's board comprises of eight directors. Mohit Satishkumar Chadda, 39, is the Chairman and Managing Director of the company.

6. Caliber Mining & Logistics' business

As per the RHP, the company is a mining operator, managing overburden removal, coal extraction and coal logistics. Its mining and overburden removal operations are located in Maharashtra, Madhya Pradesh and Chhattisgarh. It does not own any of the mines.

"We offer our customers end-to-end services including coal extraction, overburden removal, coal loading and unloading, road transportation and coordination of rail transportation, making us a one-stop coal mining and logistics provider," reads the RHP.

7. Caliber Mining & Logistics' financial performance

As per the RHP, the company's revenue from operations grew at a CAGR of 32.67% from ₹953.12 crore in FY24 to ₹1,677.66 crore in FY26.

The company's consolidated profit in FY24 was ₹95.90 crore which rose to ₹157.90 crore in FY26.

8. Caliber Mining & Logistics' listed peers

NCC, Dilip Buildcon, Power Mech Projects, and Sindhu Trade Links are some of the listed peers of the company.

9. Industry outlook

The RHP highlighted that as of 2024, India accounted for 14% of world coal consumption, standing as the second-largest consumer after China, which dominates with a 56% share.

"In terms of absolute figures, India's coal consumption, measured in EJ, has risen significantly. In 2014, India's coal consumption stood at 15.8 EJ. By 2024, this figure escalated to 23 EJ. Additionally, the share of coal in India's primary energy mix has remained relatively stable, hovering around 56% since 2014. The trend suggests that coal will continue to play a vital role in powering India's economy, especially in sectors such as power generation and heavy industry," said the company.

10. Key risks

The company's mining operations are subject to operating risks. Besides, concentration of customers is a key risk. It derives a significant portion (90.11% in FY26) of its revenue from its top three customers.

Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.