Caliber Mining & Logistics shares made a decent D-st debut; stock listed at 19% premium

Shares of Caliber Mining & Logistics made a decent stock market debut on Friday, July 24 as the coal extraction and logistics player was listed at Rs 504 on BSE, a premium of 18.87 per cent over its issue price of Rs 424. Similarly, the stock was settled on BSE with a premium of 17.98 per cent over its issue price at Rs 500 apiece.

As of the listing price, retail investors who got a single lot of 35 equity shares made a profit of Rs 2,800 on their investment of Rs 14,840. Similarly, HNI investors, who got 14 lots consisting of 490 equity shares made a profit of Rs 39,200 on their investment of Rs 2,07,760.

Listing of Caliber Mining & Logistics has been on the expected lines. Ahead of its listing, shares of Caliber Mining & Logistics were commanding a grey market premium (GMP) of 80 apiece, suggesting a 18-19 per cent listing gains for the investors. However, its GMP stood around Rs 115-120 apiece over the when the issue had closed for bidding.

The IPO of Caliber Mining & Logistics ran for subscription between July 17-July 21. It had offered its shares in the price band of Rs 402-424 per share with a lot size of 35 shares. The company eyed to raise a total of Rs 450 crore via IPO, which included a fresh share sale of Rs 400 and an offer-for-sale (OFS) of up to 11,79,245 equity shares.

The issue was overall subscribed a whopping 146.64 times with nearly 38.45 lakh applications, fetching bids for almost Rs 48,720 crore. The portion for qualified-institutional bidders (QIBs) was subscribed a whopping 240.71 times. The quotas for non-institutional investors (NIIs) and retail bidders were subscribed an astounding 267.36 times and 41.15 times, respectively.

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.

Brokerage firms were mostly positive on the issue, suggesting to subscribe it for both listing gains and long-term perspective. DAM Capital Advisors was the sole book running lead manager for Caliber Mining & Logistics IPO and Kfin Technologies Ltd served as the registrar of the issue.