Updated on 30.03.2026|11:40 AM
Central Mine Planning & Design Institute Limited (CMPDIL) is set to launch its Initial Public Offering (IPO) on Friday, March 20, 2026.
It is a Mini Ratna (Category I) Central Public Sector Enterprise and a wholly-owned subsidiary of Coal India Limited (CIL),operating as a premier consultancy organisation in India, CMPDIL provides comprehensive solutions across the mining value chain, from geological exploration to mine design and environmental management.
The IPO, which is an entirely Offer for Sale (OFS) by its parent company, aims to raise approximately ₹1,842 Crores, with a price band of ₹163 to ₹172 per share. The issue will close on Tuesday, March 24, 2026. Track all the upcoming and live IPOs of 2026.
In this article, you will find CMPDIL IPO GMP today, price band, and a detailed review. For day to day subscription details, check our dedicated IPO subscription page.
Briefs of CMPDIL IPO Details:
- Price Band: ₹163 – ₹172 per equity share
- IPO Open / Close Dates: March 20, 2026 – March 24, 2026
- Lot Size: 80 Shares (Minimum Investment: ₹13,760)
- Issue Size: 10,71,00,000 Equity Shares / ~₹1,842 Crores
- Fresh Issue / OFS: 100% Offer for Sale (OFS)
- Employee Discount: ₹8.00 per share
- Registrar: Kfin Technologies Ltd.
- Listing Exchange: BSE, NSE
The investors who have more registrar level queries can check our detailed guide on Kfin ipo allotment status which is a step by step guide and provide all the details.
What Is The CMPDIL IPO GMP Today?
You can review the GMP for this and other issues on our dedicated GMP section.
Note: The Grey Market Premium (GMP) changes daily based on market demand. It is an unofficial indicator and is not regularised by SEBI, NSE, or BSE. Investors should not rely solely on GMP for investment decisions.
Listing Updates:
| Type | Issue Price | Open | Gain/loss |
| Lisiting | 172 | 160 | -7.0 |
What Are The Important CMPDIL IPO Dates & Allotment Schedule?
For investors planning their capital allocation, here is the critical timeline for the issue:
- IPO Open Date: Friday, March 20, 2026
- IPO Close Date: Tuesday, March 24, 2026
- Basis of Allotment Date: Wednesday, March 25, 2026
- Refund Initiation Date: Friday, March 27, 2026
- Credit of Shares: Friday, March 27, 2026
- Listing Date: Monday, March 30, 2026
What Are The Objectives of CMPDIL IPO?
Since the IPO is a 100% Offer for Sale (OFS), CMPDIL will not receive any funds from the issue. The primary objectives are:
- Divestment: To carry out the disinvestment of equity shares by the Promoter (Coal India Limited).
- Listing Benefits: To achieve the benefits of listing the equity shares on the stock exchanges, which enhances corporate visibility and brand image.
How is The Financial Performance of CMPDIL?
The following table summarises the company's financial performance based on restated financial statements.
(Figures in ₹ Crores)
| Particulars | Period Ended 31 Dec 25 | FY 2024-25 | FY 2023-24 | FY 2022-23 |
Total Income | 1,543.93 | 2,177.53 | 1,770.18 | 1,398.78 |
Profit After Tax (PAT) | 425.36 | 666.91 | 503.23 | 296.66 |
EBITDA | 593.85 | 915.71 | 764.44 | 395.65 |
Total Borrowing | 0.00 | 0.00 | 0.00 | 0.00 |
Assets | 2,911.12 | 2,682.80 | 2,171.37 | 1,919.53 |
Financial Analysis & Observations:
Total Income:
CMPDIL has demonstrated robust top-line growth, with Total Income rising from ₹1,398.78 Crores in FY23 to ₹2,177.53 Crores in FY25 (a CAGR of ~23%). This growth is directly linked to Coal India's massive capacity augmentation targets and lucrative government-funded exploration projects.
Profit After Tax (PAT):
Profitability has more than doubled over the three years, reaching ₹666.91 Crores in FY25 from ₹296.66 Crores in FY23. The PAT margin expanding to 30.6% in FY25 reflects the highly scalable nature of its consultancy business.
EBITDA:
Operational efficiency is exceptional, with EBITDA standing at ₹915.71 Crores in FY25. The EBITDA margin of 42.1% underscores the high value added of the company's specialised engineering and geomatics services.
Total Borrowing:
A standout feature of CMPDIL is its pristine, zero-debt balance sheet across all reported periods. This complete absence of borrowings highlights strong cash flow generation and minimal financial risk.
Assets:
The asset base has steadily grown to ₹2,911.12 Crores by December 2025. Unlike capital-intensive mining companies, CMPDIL's asset-light consultancy model enables it to generate substantial revenue without significant physical infrastructure investments.
What Are the P/E Ratio and Peer Comparison?
Based on its Fiscal Year 2025 earnings per share (EPS) of ₹9.3, the IPO is priced at a Price-to-Earnings (P/E) multiple of approximately 18.49x at the upper end of the price band (₹172).
P/E Ratio = ₹172(Price) / ₹9.3Earnings Per Share)
P/E Ratio ≈ 18.49x
Peer Comparison Table (FY 2025 Data):
| Company | P/E Ratio | RoNW (%) | EPS (₹) | RoACE (%) |
CMPDIL | 18.49 | 36.7 | 9.3 | 48.6 |
| Engineers India Ltd (EIL) | 19.9 | 23.5 | 10.3 | 25.7 |
| RITES Limited | 25.2 | 15.5 | 8.0 | 20.9 |
Source: RHP
Analysis:
CMPDIL is entering the market at a P/E multiple of approximately 18.49x based on its FY25 EPS. Compared with the industry average P/E of 22.6x and listed peers such as RITES (25.2x) and EIL (19.9x), the IPO appears attractively priced, leaving value on the table for investors. Furthermore, CMPDIL's return ratios—a RoNW of 36.7% and a RoACE of 48.6%—significantly outperform those of its peers, highlighting its better capital efficiency and profitability.
What is The Industry Outlook of CMPDIL?
Growth Potential:
India’s energy demands continue to rely heavily on coal, and Coal India's mandate to increase production capacity across 50 mines provides a multi-year, assured revenue pipeline for CMPDIL.
Market Trends:
While the long-term global shift is towards renewable energy, the immediate and medium-term need for efficient, environmentally compliant mining ensures sustained demand for CMPDIL's specialised consulting services. The company's strategic diversification into critical minerals (lithium, nickel) positions it to capitalise on the clean energy transition.
What Are The Strengths and Risks of CMPDIL IPO?
Strengths:
- Unmatched Parentage: As a 100% subsidiary of Coal India, CMPDIL enjoys an assured, recurring business pipeline.
- Pristine Financials: A zero-debt balance sheet combined with industry-beating return ratios (RoNW ~36.7%) makes it a highly resilient entity.
- Data Monopoly: Acting as the custodian of India's coal and lignite data creates an impenetrable moat against potential competitors.
Risks:
- Extreme Client Concentration: A staggering 95% of FY25 revenue comes from the top 10 clients, with CIL and its subsidiaries accounting for 67.1%. Any cut in CIL's Capex would severely impact revenues.
- ESG and Long-Term Threats: The global pivot away from fossil fuels poses a long-term structural threat to coal mining consultancy if CMPDIL's diversification into critical minerals does not scale in time.
- Contingent Liabilities: The company faces contingent liabilities of over ₹210 Crores related to tax disputes.
Key Considerations for Investors
This analysis is neutral and for informational purposes only.
- Valuation: At ~18.5x P/E, the issue is priced at a discount to peers despite having significantly better return ratios, making it a compelling value proposition.
- Dividend Potential: As a cash-rich, zero-debt PSU, CMPDIL is likely to be a strong dividend payer post-listing, appealing to yield-seeking investors.
- Risk Profile: Investors must weigh the strong immediate financials against the long-term ESG risks associated with the coal sector and the heavy reliance on its parent company.
Disclaimer: This article is strictly for educational purposes. Please consult a SEBI-registered investment advisor before making any investment decisions.
Key Takeaways
- IPO Price: ₹172 per share (Upper Band).
- Min Investment: ₹13,760 (80 Shares).
- Financials: Revenue ₹2,177 Cr (FY25); Zero Debt.
- Allotment: March 25, 2026
- Listing: BSE & NSE on March 30, 2026.
FAQs on CMPDIL IPO
What is CMPDIL IPO GMP today?
The GMP is a dynamic market sentiment indicator. Check it our dedicated gmp page.
What is CMPDIL IPO price band?
The price band is fixed at ₹163 to ₹172 per equity share.
What is CMPDIL IPO allotment date?
The allotment status is expected to be finalised on Wednesday, March 25, 2026.
How do I check my CMPDIL IPO allotment status?
Investors can check the status on KfinTechnologies Ltd.'s (the Registrar) website or via the BSE/NSE IPO allotment portals. For more details on allotment, visit our IPO allotment status page.
What is CMPDIL IPO listing date?
The shares are tentatively scheduled to list on Monday, March 30, 2026.
Investment Perspective on CMPDIL IPO
CMPDIL offers a highly profitable, asset-light, and debt-free investment opportunity within the PSU space. Its attractive valuation and superior return ratios make it a strong candidate for investors, provided they are comfortable with the inherent client concentration and long-term sector-specific ESG risks.
Disclaimer: This article is strictly for educational purposes. Please consult a SEBI-registered investment advisor before making any investment decisions.
