CMPDIL shares drop over 10% in debut trade
New Delhi: Shares of Central Mine Planning & Design Institute Ltd, an arm of state-owned Coal India, on Monday ended with a discount of over 10 per cent against the issue price of Rs 172. The stock started trading at Rs 162.80, down 5.34 per cent from the issue price on the BSE. During the day, it plunged 11.45 per cent to Rs 152.30. Shares of the firm later ended at Rs 154.05, down 10.43 per cent. At the NSE, the stock listed at Rs 160, registering a discount of 6.97 per cent. It finally ended at Rs 154.06, a decline of 10.43 per cent.
The company's market valuation stood at Rs 10,999.17 crore. The initial public offering (IPO) of Central Mine Planning & Design Institute Ltd got fully subscribed on the closing day of bidding on Tuesday last week. The Rs 1,842-crore IPO had a price band of Rs 163-172 per share. The issue was entirely an offer for sale (OFS) of 10.71 crore shares, worth Rs 1,842.12 crore at the upper end, by Coal India, with no fresh issue component. CMPDIL was incorporated in 1975 as a wholly owned subsidiary
