The initial public offering (IPO) of Caliber Mining & Logistics continued to attract significant investor attention on its second day of bidding. By 12:50 PM IST on Monday, July 20, 2026, the issue was subscribed 12.26 times overall, with strong participation from non-institutional investors (NIIs) and retail bidders.
About Caliber Mining & Logistics
Incorporated in 2014, Chandrapur-based Caliber Mining & Logistics is an integrated service provider specializing in coal extraction and coal logistics. The Maharashtra-based company offers a comprehensive suite of services, including coal extraction, overburden removal, coal loading and unloading, road transportation, and rail transportation coordination.
IPO Details and Subscription Status
Caliber Mining & Logistics is offering its shares in a price band of Rs 402-424 apiece, aiming to raise Rs 450 crore. This includes a fresh issue of shares worth Rs 400 crore and an Offer-for-Sale (OFS) of up to 11,79,245 equity shares totaling Rs 50 crore. Investors can apply for a minimum of 35 shares and in multiples thereafter. The bidding for the IPO, which commenced on Friday, July 17, will conclude on Tuesday, July 21.
As of Monday afternoon, the non-institutional investors' (NIIs) portion was subscribed 34.46 times, while the retail investors' segment saw a subscription of 9.53 times. Qualified institutional bidders (QIBs) had subscribed to over 38 percent of their allocated portion.
Financial Performance and Fund Utilization
Caliber Mining reported a net profit of Rs 157.90 crore on revenue of Rs 1,684.66 crore for the financial year ending March 31, 2026. This marks growth from the previous fiscal year (2024-25), where it posted a net profit of Rs 131.55 crore and revenue of Rs 1,435.57 crore.
The net proceeds from the fresh issue are primarily earmarked for the repayment or prepayment of existing borrowings and for capital expenditure to purchase new machinery. These uses are expected to strengthen the company's balance sheet and support its future growth initiatives.
Analyst Recommendations and Grey Market Premium
Analysts have largely recommended subscribing to the Caliber Mining Logistics IPO. Angel One noted the attractive valuation at a post-issue P/E of 17.5 times and P/B of 3.5 times based on FY26 earnings. They highlighted the company's strong order book of Rs 9,550 crore, providing healthy revenue visibility, and the utilization of fresh issue proceeds for debt reduction and capacity expansion. Hem Securities also gave a 'subscribe' rating, citing the company's growing market share, proven growth track record, and experienced management.
In the grey market, Caliber Mining & Logistics shares were commanding a premium (GMP) of Rs 110-115, indicating a potential listing gain of 25-27 percent for investors. DAM Capital Advisors is the sole book-running lead manager for the IPO, with Kfin Technologies Ltd serving as the registrar. The shares are scheduled to be listed on both BSE Ltd and NSE on Friday, July 24.