IPO subscription status: Central Mine Planning and Design Institute Ltd (CMPDIL) shares are trading under pressure in the grey market. CMPDIL IPO GMP has declined consistently over time.

Today (Monday, March 23) is the second day of the IPO subscription and CMPDIL shares are commanding a thin or negligible grey market premium.

On the first day of IPO subscription (day 1), the CMPDIL IPO was booked 7 per cent, according to NSE data. The IPO subscription will end on March 24.

CMPDIL IPO GMP Today

According to various websites, CMPDIL shares are trading with a premium of just Re 1.50 in the grey market ( GMP). This translates into a GMP of less than 1 per cent.

CMPDIL IPO Price Band

CMPDIL is a subsidiary of Coal India, a Maharatna PSU.

CMPDIL has fixed the price band for its IPO in the range of Rs 163 to Rs 172.

At the upper price band (Rs 172), CMPDIL is eyeing a valuation of around Rs 12,280 crore.

CMPDIL IPO is entirely an OFS by Coal India. Coal India is offloading 10.71 crore shares via OFS, worth Rs 1,842.12 crore at the upper end. CMPDIL IPO has no fresh issue.

CMPDIL IPO: SUBSCRIBE Recommendation

Brokerage firm Geojit has recommended SUBSCRIBE on the CMPDIL IPO.

At the upper price band of Rs 172, CMPDIL is valued at a P/E of 18x for FY25 (22x annualised for FY26E), broadly in line with its listed peer average of 21x for FY25.

The company benefits from market leadership in coal and mineral consultancy, strong industry tailwinds, and backing from Coal India Ltd, ensuring steady order inflows.

"With a high-margin, asset-light, and debt-free business model along with consistent dividend payout potential, we assign a Subscribe rating for long term investment," the brokerage said.

Central Mine Planning & Design Institute Ltd, established in 1974 and headquartered in Ranchi, is a Mini Ratna (Category I) PSU.