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Caliber Mining and Logistics IPO gets 1.31 times subscription on Day 1
Bids on July 17 totaled 96.54 lakh shares versus 74.29 lakh shares on offer, and the company’s estimated listing price could be around ₹529 per share, about 38% above the top of its ₹402-₹424 band.
Caliber Mining and Logistics’ initial public offering opened for bidding on July 17 and attracted solid early demand, with the issue booked 1.31 times by the end of Day 1, according to exchange data, as bids totaled 96.54 lakh shares against 74.29 lakh shares on offer.
LiveMint Markets said non-institutional investors were the most active, subscribing 1.69 times, while retail investors subscribed 1.70 times. The qualified institutional buyers portion was subscribed 0.31 times.
The IPO has a fixed price band of ₹402 to ₹424 per equity share, with a face value of ₹10 each, and is set to raise ₹450 crore. The offer includes a fresh issue of equity shares worth up to ₹400 crore and an offer for sale of up to ₹50 crore by promoters Mohit Satishkumar Chadda, Anuj Krishanlal Chadda, Manish Krishanlal Chadda, and Rahul Roshanlal Chadda.
The subscription period runs until July 21, with shares proposed to list on both the NSE and BSE. LiveMint Markets reported the grey market premium stood at ₹105 per share, implying an estimated listing price of around ₹529 per share, or nearly 38% above the issue price, based on the prevailing GMP and the upper end of the price band.