Coal India Arm CMPDI Debuts at Discount on Dalal Street

• Central Mine Planning and Design Institute (CMPDI), a Coal India subsidiary, listed at a discount on Dalal Street on March 30.
• The stock opened at ₹160 on NSE and ₹162.80 on BSE, listing at a 6.98% and 5% discount respectively.
• The IPO received a muted response with 1.05 times subscription, driven by Qualified Institutional Buyers (QIBs).
• CMPDI, a 'Miniratna' company, offered shares in a fixed price band of ₹163 to ₹172 for its ₹1,842-crore IPO.
• The company aims to diversify into critical minerals and renewable energy, and increase non-Coal India revenue to 35%.