Caliber Mining and Logistics' initial public offering (IPO) received a solid response on its first day of bidding, with bids for 96.54 lakh shares against 74.29 lakh shares offered, resulting in a 1.3 times subscription, according to livemint.com. The IPO price band was set between ₹402 and ₹424 per share, and the issue will remain open until July 21.
The IPO attracted strong demand from both retail and non-institutional investors, reflecting confidence in Caliber Mining and Logistics’ integrated mining services, which include overburden removal, coal extraction, and coal logistics. The company was incorporated in 2014 and has established itself in the mining services sector over the years, which likely contributed to the positive investor interest on day one, livemint.com reported.
The grey market premium for the IPO indicates a potential listing price of ₹529 per share, which is approximately 38% above the upper end of the issue price band. This premium suggests robust market sentiment and positions Caliber Mining and Logistics among recent mining sector listings that have garnered strong investor appetite. The IPO's performance is notable amid a competitive market for mining and logistics services in India.
The Caliber Mining and Logistics IPO will close on July 21, with investors awaiting the final subscription numbers and the subsequent listing. The strong subscription on day one sets a positive tone for the remaining days of the offer, as disclosed by livemint.com.