Caliber Mining Hits BSE and NSE with IPO Worth Rs 600 Crore

Caliber Mining and Logistics, based in Nagpur, seeks to raise Rs 600 crore through an IPO, blending fresh issue equity and promoter OFS. Funds will aid in debt repayment, machinery purchase, and corporate needs. Revenue soared with a CAGR of 60.05% recently.

Caliber Mining and Logistics, a prominent Nagpur-based coal mining and logistics firm, is set to enter the capital markets with an initial public offering (IPO) worth Rs 600 crore. The IPO will encompass a fresh equity issue up to Rs 500 crore and an offer-for-sale (OFS) of Rs 100 crore from promoters, as per their draft prospectus with Sebi.

The offer-for-sale portion will see promoters Mohit Satishkumar Chadda, Anuj Krishanlal Chadda, Manish Krishanlal Chadda, and Rahul Roshanlal Chadda each offload shares valued at Rs 25 crore. Should the pre-IPO placement succeed, the fresh issue size will accordingly reduce.

Caliber Mining intends to allocate the net proceeds for debt repayment, capital expenditure on machinery, and general corporate purposes. It boasts a high CAGR of 60.05% in revenue growth, with significant clients like Coal India Ltd subsidiaries, and is set to list on BSE and NSE.

(With inputs from agencies.)