Caliber Mining and Logistics Limited operates as an integrated contract mining and logistics solutions provider in India, specialising in coal extraction and road transportation primarily for state-run entities.
To support its ongoing operations and reduce existing borrowings, the enterprise aims to raise ₹450 crores through a mainboard Initial Public Offering, comprising a ₹400 crore fresh issue and a ₹50 crore offer for sale.
The bidding window for the Caliber Mining and Logistics public issue is set to run from July 17, 2026, through July 21, 2026.
The price band has been fixed at ₹402 to ₹424 per equity share, requiring a minimum retail bidding lot of 35 shares.
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This coverage features updates on the Caliber Mining and Logistics IPO, including its latest grey market premium, bidding activity, allotment timeline, pricing bracket, and an independent review.
Briefs of Caliber Mining and Logistics IPO Details
- Price Band: ₹402 – ₹424 per share
- IPO Open / Close Dates: 17 July 2026 / 21 July 2026
- Lot Size: 35 shares
- Issue Size: ₹450 crores (35 shares minimum bid)
- Fresh Issue / OFS: Fresh Issue of ₹400 crores / Offer For Sale of ₹50 crores
- Registrar: KFin Technologies Limited
- Listing Exchange: NSE, BSE
Check the detailed guide on KFin IPO allotment status to resolve all your issues related to credit of share, refunds etc.
IPO Reservation
- Face value: ₹10 per share
- Anchor offer: Up to 60% of the QIB portion
- QIB-shares: Not more than 50% of the total Offer
- NIIs-Shares offered: Not less than 15% of the total Offer
- RIIs- Shares offered: Not less than 35% of the total Offer
What is Today's Unofficial grey market premium (GMP) for Caliber Mining and Logistics?
Investors can view today's grey market premium data for various public issues on our main aggregator page.
This pricing changes daily with market demand and operates independently of regulatory bodies like SEBI, NSE, and BSE.
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What are the Key Dates and Allocation Timelines for Caliber Mining and Logistics' Public Offering?
- IPO Open & Close Date: 17 July 2026 to 21 July 2026
- Basis of Allotment Date: 22 July 2026
- Refund Initiation Date: 23 July 2026
- Credit of Shares: 23 July 2026
- Listing Date: 24 July 2026
What Are The Objectives of Caliber Mining and Logistics IPO ?
Proceeds gathered from the new offering will be directed by management toward the following declared business purposes:
- Debt Repayment: An allocation of ₹208.00 crores will be used for the full or partial prepayment/repayment of certain outstanding borrowings.
- Capital Expenditure: The firm plans to deploy ₹167.00 crores to procure commercial vehicles, plant, and heavy machinery required for mining operations.
- General Corporate Purposes: The remaining balance (capped at 25% of the gross proceeds) will fund day-to-day administrative expenses, business development, and taxation liabilities.
How is The Financial Performance of Caliber Mining and Logistics ?
Provided below are the key financial metrics of the company, extracted from reports measured in Rupees Crores.
Period Ended | 31 Mar 26 | 31 Mar 2025 | 31 Mar 24 |
Total Income | 1,684.66 | 1,435.57 | 957.92 |
Profit After Tax | 157.90 | 131.55 | 95.90 |
EBITDA | 430.92 | 349.77 | 243.14 |
Total Borrowing | 1,057.61 | 651.77 | 725.51 |
Assets | 2,077.39 | 1,404.09 | 1,279.18 |
Source: RHP
Financial Observations
Total Income
The company registered a consistent upward trajectory in its overall revenue generation across the reported fiscal years.
- Total income scaled from ₹957.92 crores in FY24 to ₹1,684.66 crores in FY26.
- This progression reflects the rapid expansion in the domestic contract mining sector.
- Steady execution of long-term orders from state-run subsidiaries supported this top-line scale-up.
Profit After Tax
Net profit showed substantial expansion as the business capitalised on its in-house fleet efficiencies.
- PAT surged from ₹95.90 crores in FY24 to ₹157.90 crores by the end of FY26.
- The company maintained a healthy PAT margin of 9.41% in the latest fiscal year.
- Controlled maintenance costs positively influenced these bottom-line figures.
EBITDA
Operational earnings progressed significantly alongside the growing volume of extracted materials.
- EBITDA increased from ₹243.14 crores in FY24 to ₹430.92 crores in FY26.
- The EBITDA margin reached an industry-leading 25.69% in FY26.
- Operating dedicated maintenance workshops helped keep direct operational overheads manageable.
Total Borrowing
The firm continues to hold elevated debt levels to finance its capital-intensive heavy machinery requirements.
- Total borrowings expanded from ₹725.51 crores in FY24 to ₹1,057.61 crores in FY26.
- This reliance on external capital resulted in a Net Debt-to-Equity ratio of 1.62x.
- A major portion of the IPO proceeds is allocated to repaying these specific liabilities.
Assets
The overall resource base widened considerably to accommodate the expanding mining and logistics contracts.
- Total assets grew from ₹1,279.18 crores in FY24 to ₹2,077.39 crores in FY26.
- This growth is directly tied to the procurement of a massive fleet comprising 1,911 vehicles and mining equipment.
- These physical assets form the core execution backbone of the company's long-term contracts.
You may find this report useful: IPO Listing Performance Tracker 2026 – Complete Dataset of IPO Listing Gains in India
What Are the P/E ratio and Peer Comparison of Caliber Mining and Logistics Limited ?
Market participants use the P/E ratio, calculated by dividing share price by EPS, to assess the valuation of corporate profits.
At the maximum issue price of ₹424 and an FY26 Basic EPS of ₹29.47, Caliber Mining and Logistics trades at a P/E multiple of roughly 14.39x.
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Analysis:
Caliber Mining and Logistics enters the primary market demanding a P/E multiple of 14.38x.
When evaluated against the industry average P/E of 34.65x and competitors like Power Mech Projects (22.94x) and Sindhu Trade Links (97.15x), the issue is positioned at a comparative discount.
While operating on a smaller revenue base than giants like NCC Limited, Caliber boasts a superior RoNW of 24.38% and an industry-leading EBITDA margin, showcasing highly efficient utilisation of shareholder equity despite its capital-heavy operations.
What is the Industry Outlook of Caliber Mining and Logistics?
Growth potential: The Indian contract mining and logistics sector is experiencing steady demand, underpinned by the nation's reliance on thermal power. As state-run enterprises increasingly outsource overburden removal and coal extraction to private operators to improve efficiency, integrated service providers are securing long-term execution contracts.
Market trends and competitors: The heavy civil and mining infrastructure space requires massive upfront capital expenditure and rigorous pre-qualification standards. Success heavily depends on maintaining equipment uptime, navigating fuel price volatility, and managing working capital cycles efficiently against government payment schedules.
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What Are The Strengths and Risks of Caliber Mining and Logistics IPO ?
Strengths:
- Massive Order Book: As of May 2026, the company held an unexecuted order book of ₹9,550.89 crores, granting it robust revenue visibility for the next three to seven years.
- In-House Maintenance: Owning a fleet of 1,911 vehicles and operating dedicated maintenance workshops drastically reduces operational downtime compared to competitors.
- Client Stickiness: The firm enjoys steady, reliable cash flows backed by repeat business from AAA-rated Coal India subsidiaries.
Risks:
- Customer Concentration: The business is heavily reliant on a few entities, with its top three customers contributing 90.11% of the FY26 revenue (Northern Coalfields alone accounted for 44.16%).
- High Financial Leverage: The capital-intensive nature of mining has pushed total borrowings to ₹1,057.61 crores in FY26, resulting in a high Net Debt-to-Equity ratio of 1.62x.
- Contract Concentration: Approximately 76.12% of the coal mining revenue originates from large-scale contracts valued at over ₹1,000 crores each, exposing the firm to severe risk if a single contract is cancelled.
Important IPO Resources:
1. IPO Allotment Status – How to Check Allotment Status of IPO Shares
2. June 2026 IPO Review: 22 IPOs, ₹2,502 Cr Raised & 75.98x Average Subscription
3. Q3 FY26 IPO Performance Report: 3-Month, 6-Month, 9-Month & 1-Year Post-Listing Returns Analysis
4. IPO Glossary: 100+ Important Terms Every Investor Should Know
5. Daywise IPO subscription status
Key Considerations for Investors
- Customer & Contract Concentration: The top three clients generated 90.11% of FY26 revenue, with Northern Coalfields alone contributing 44.16%. Furthermore, 76.12% of mining revenue relies on a few large-scale contracts exceeding ₹1,000 crores each.
- High Financial Leverage: The capital-intensive nature of contract mining has led to elevated debt, with total borrowings reaching ₹1,057.61 crores and a Net Debt-to-Equity ratio of 1.62x in FY26.
- Cost Vulnerability: Power and fuel represent the single largest expense, consuming 53.51% of total operational costs in FY26, leaving margins exposed to fuel price fluctuations.
- Geographic Concentration: Operations are highly localized, with Maharashtra and Madhya Pradesh generating 55.49% and 43.73% of FY26 revenue, respectively, creating regional exposure risks.
Key Takeaways
- IPO Price Band: ₹402 to ₹424 per equity share
- Lot Size: 35 shares (Minimum retail investment of ₹14,840)
- Allotment Date: Allotment on 22 July 2026;
- Listing Date: Listing on NSE and BSE on 24 July 2026
You may find this research and analysis report of IPOs highly useful: IPO Market Analytics
FAQs on Caliber Mining and Logistics IPO
What is Caliber Mining and Logistics IPO GMP today?
Investors can monitor live grey market data for this mainboard issue on our central gmp today hub page.
What is the official price band established for the Caliber Mining and Logistics stock issue?
The company has set its official IPO pricing bracket between ₹402 and ₹424 per share.
What is Caliber Mining and Logistics IPO allotment date?
The basis of allotment is scheduled to be finalised on 22 July 2026.
How to check Caliber Mining and Logistics IPO allotment status?
Once the share allocation is complete, investors can confirm their status by entering their PAN or application credentials on the KFin Technologies portal or the official BSE and NSE tracking platforms.
What is Caliber Mining and Logistics IPO listing date?
The equity shares are proposed to be listed on the NSE and BSE platforms on 24 July 2026.
Investment Perspective on Caliber Mining and Logistics IPO
Caliber Mining and Logistics presents a compelling but high-risk IPO opportunity. The company boasts an impressive ₹9,55,089 lakh order book, providing strong revenue visibility, alongside industry-leading EBITDA margins of 25.69% driven by a massive in-house fleet of 1,911 vehicles.
However, investors must weigh these operational strengths against extreme customer concentration, with over 90% of revenue coming from its top three clients, and substantial financial leverage. Strategically, IPO proceeds will significantly reduce this debt burden and fund future growth capital needs.
Disclaimer:
This content serves as an educational reference rather than investment counseling. It is highly recommended to seek professional guidance from a SEBI-approved advisor before investing.
