Caliber Mining Summary
The business operation is characterized by the creation of high precision machined parts, fabricated sheet metal parts and assemblies for critical operations in aerospace, defense, railways and semiconductor industries. The company creates aerospace components such as turbine blades, nozzle components, fuel filter screens and turbocharger components; defense components like missile airframe components, drones structures, BLDC motor components, hydraulic cylinder components, guidance housing and anti-drone system housing and railway components in braking system, automatic doors, pantographs and train couplers. The company creates these products using two business models namely Build-to-Print (BTP) in which the customer supplies drawings and specification and Build-to-Spec (BTS) wherein Caliber Mining creates the solution to the performance requirement.
Considering the process in which business operates, the firm conducts all its manufacturing through four state-of-the-art manufacturing units located in Bengaluru, Karnataka, covering around 40,000 sq. ft. space along with 52 CNC machines, comprising 5-axis milling and turning centers, wire EDM machines, fiber laser cutting machines, CNC press brakes, welding stations, and assembly and inspection setups. As per records maintained on April 30, 2026, the company employs 161 staff members. The total value of the firm's order book stood at about ₹95.94 Crore as of January 2026, ensuring good visibility of revenues in the coming medium term. The firm's export focus and expanding clientele in the fields of aerospace, defense, railways, and semiconductor manufacturing make the firm a good fit for India's story of precision engineering.
NSE BSE Mainboard book-built issue by Caliber Mining Limited, wherein face value is ₹10 per share with the price band of ₹315–₹331 per share. Total issue size of ₹160.34 Cr, comprising entirely a fresh issue of 48,44,000 equity shares with no Offer for Sale component and 4,24,000 shares reserved for the market maker. The issue is bifurcated between QIBs including Anchor (not more than 50% of net issue), NII (not less than 15% of net issue), and Retail Investors (not less than 35% of net issue), and the tentative listing of the stock will be on NSE BSE Mainboard on July 21, 2026.
Caliber Mining IPO Details:
Caliber Mining Limited Issue Management:
DAM Capital Advisors Ltd. acts as the book-running lead manager for Caliber Mining NSE BSE Mainboard IPO, managing underwriting and compliance.
Caliber Mining Limited IPO RTA (Registrar) Details:
Kfin Technologies Ltd. handles allotment, refunds, and demat credits - contact at 040-79615565 or cmll.ipo@kfintech.com.
Caliber Mining Limited IPO Allotment Status:
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Visit the Kfin Technologies Ltd. IPO Application Status page.
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Select and enter PAN, Application Number, DP/Client ID, or Account Number/IFSC.
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Caliber Mining and Logistics Mainboard IPO totals ₹450 Cr comprising a fresh issue of ₹400 Cr and an OFS of ₹50 Cr by four promoter shareholders. Share counts per category to be confirmed once the price band is announced.
Caliber Mining and Logistics Limited IPO proceeds from the fresh issue of ₹400 Cr will be deployed towards:
Caliber Mining and Logistics Mainboard IPO is structured for QIB (50%), NII (15%), and Retail (35%) investors as per SEBI mainboard norms. All share counts and bid amounts to be confirmed once price band and lot size are officially announced.
The anchor bidding for Caliber Mining and Logistics Limited Mainboard IPO is scheduled for July 16, 2026, one working day before the issue opens on July 17, 2026. Anchor investors will be allotted shares in accordance with SEBI mainboard IPO regulations — up to 60% of the QIB portion may be allocated to anchor investors.
Lock-in: The anchor allotment follows standard mainboard IPO norms, where 50% of the anchor shares are locked in for 30 days and the remaining 50% for 90 days from the listing date of July 24, 2026 on BSE and NSE.
The anchor allocation details and investor list will be disclosed in the anchor book before the IPO opening. DAM Capital Advisors Ltd. is the BRLM and KFin Technologies Ltd. is the registrar.
Caliber Mining and Logistics Limited is an integrated contract mining and logistics company based out of Nagpur that has been incorporated on July 3, 2014, and comes among one of the top-10 contract miners in India. The revenue from operations of the company has increased at a CAGR of 60.05% from ₹372.08 Cr (FY22) to ₹953.12 Cr (FY24). Revenue increased 44.6% from ₹662.34 Cr (FY25) to ₹958.18 Cr (FY26). The PAT remained stable at ₹95.12 Cr (FY26) compared to ₹93.19 Cr (FY25) – Revenue increase did not benefit bottom-line. PAT margin: 9.98% (FY26). EBITDA Margin: 25.41% (FY26). FY24 KPIs: ROE: 38.47% | ROCE: 16.79% | Debt/Equity Ratio: 2.45x | EPS: ₹18.65 (basic) | RoNW: 32.27% | NAV: ₹57.81 per share. Market Share (Contract Mining): From <1% (FY20) to 3.5% (FY24). Fleet: 1,473 vehicles, consisting of 600 mining tippers, 447 tip trailers, and 96 excavators (October 2024). Workforce: 3,742 (October 2024). Peer comparison: Power Mech Projects Ltd (P/E 15.56x, NAV ₹1,162.69), NCC Ltd (P/E 5.02x, NAV ₹105.75), Sindhu Trade Links Ltd (P/E 9.92x), Dilip Buildcon Ltd (P/E 33.40x, NAV ₹298.85). Caliber Mining NAV: ₹57.81.
Action Links:
To apply for Caliber Mining Limited IPO, open a demat account here
Caliber Mining Limited IPO Subscription Status: Check live subscription here
Caliber Mining Limited IPO GMP Update: Check latest grey market premium here
Caliber Mining Key Highlights:
Caliber Mining and Logistics Limited is an integrated coal contract mining and logistics player based in Nagpur incorporated on July 3, 2014 (formerly Caliber Mercantile Private Limited). No.10 contract mining player in India. Major customers include Western Coalfields Limited (WCL) and Northern Coalfields Limited (NCL) — subsidiary companies of Coal India Limited. Fleet size stands at 1,473 (1,373 owned + 100 leased) units comprising 600 mining tippers, 447 tip trailers, 96 excavators as on October 2024. Workforce: 3,742 (out of which 9 are on retainer). Operations: Maharashtra, Chhattisgarh, Madhya Pradesh. Services include overburden removal, coal mining, loading/unloading of coal, road transport services and railway transport coordination services. Revenue CAGR: 60.05% (FY22-FY24). FY24: 4.98 million metric ton coal mined, 68.07 Mcum overburden removed. Market Share: 3.5% (FY24) vs <1% (FY20). Promoters: Mohit Satishkumar Chadda, Anuj Krishanlal Chadda, Manish Krishanlal Chadda, Rahul Roshanlal Chadda, Priya Anuj Chadda. Pre-IPO promoter holding: 92.66%. IPO: Fresh ₹500 Cr + OFS ₹100 Cr. SEBI approved: May 13, 2025.
Caliber Mining Risk Factors:
The risks of Caliber Mining Limited IPO are mentioned below:
High Debt – D/E Ratio of 2.45x: Debt is substantial in relation to net worth. Even after using proceeds of IPO worth ₹175 Cr towards repayments, the debt left will still pose considerable cost pressure in terms of interest payments.
ESG and Regulatory Risks for Coal Industry: The company has an entirely coal-based model; thus, any negative developments in the coal industry can directly affect revenue since coal is a fossil fuel under regulatory and environmental risks and likely to face reduced demand due to green initiatives in India.
Customer Dependence on Coal India: Revenues have been highly dependent on contracts with Coal India Ltd subsidiaries such as WCL and NCL. This poses a threat to the firm’s financial stability.
Stagnant PAT Despite Increase in Revenue: While the revenue for FY26 saw an impressive rise of 44.6%, the PAT was stagnant at ₹95.12 Cr vs ₹93.19 Cr in FY25. It is imperative to watch out for margin compression because of higher fleet operations expenses, fuel, labour, and interest.
Capital Expenditures and Fleet Maintenance Costs: To maintain a fleet of 1,473 heavy mining vehicles, huge capital expenditure is required on an ongoing basis. Any rise in diesel prices, spare parts prices, or equipment breakdown will cause margin compression for thin PAT.
Four Promoters' OFS at Same Time: ₹100 Cr OFS by four promoters at ₹25 Cr each is indicative of partial liquidity event; and together with 14 months of SEBI approval period prior to IPO, investors have to be vigilant regarding the time frame of the exit of promoters.
Caliber Mining Expert Analysis:
Caliber Mining and Logistics Mainboard book-built IPO aggregates ₹600 Cr — comprising fresh issue of ₹400 Cr and OFS of ₹50 Cr by four promoter shareholders. Face value ₹10 per share. Listing on both BSE and NSE.
Basic details of the IPO:
Type of IPO: Book-built Mainboard IPO (NSE BSE Mainboard)
Uses of funds: Fresh issue (₹500 Cr): Repayment of borrowings (₹175 Cr), fleet capex — excavators, tippers, tip trailers (₹200 Cr), and general corporate purposes. OFS proceeds (₹100 Cr) go to four selling promoters (₹25 Cr each).
Anchor bidding: July 16, 2026 | Opens: July 17, 2026 | Closes: July 21, 2026 | Allotment: July 22, 2026 | Listing: July 24, 2026 (BSE & NSE)
Lead Manager: DAM Capital Advisors Ltd. | Registrar: KFin Technologies Ltd.
Expert View on the IPO:
Caliber Mining and Logistics boasts an exciting growth narrative, which includes 60% compound annual growth rate of revenues during FY22–FY24, top-10 ranking in Indian contract coal mining, impressive captive fleet consisting of 1,473 vehicles, high return on equity of 38.47%, and EBITDA margins of 25.41%. Investment of Rs 200 Crores on fleet through the proceeds from IPO is sensible considering the need to boost operational capabilities for signing new contracts with Coal India. However, the coal segment has a structural challenge due to energy transition, D/E ratio of 2.45x is high, PAT growth has stagnated even with 44.6% revenue growth during FY26, and the price band has yet to be announced.
Should you invest in Caliber Mining?
For long-term investors looking for investment in companies dealing with coal contract mining and logistics infrastructure facilities on account of its 60% growth rate of revenue CAGR, market leader position in the top-ten range, and having CIL subsidiaries as clients — if the valuation of the company is reasonable based on its price band and P/E ratio. Not recommended for ESG investors and conservative investors.
Consider investing when:
Getting exposure to the coal contract mining business in India via a Top 10 company with 60% revenue CAGR (FY22-FY24), a 1,473-vehicle fleet, good EBITDA margin (25.41%) and ₹200 Cr fleet expansion strategy.
Happy with high D/E (2.45x), OFS from four promoters, ESG risks associated with coal business, CIL subsidiary being a key client, and zero PAT growth in FY26.
Do not invest when:
An ESG-oriented investor looking for companies which do not operate within the fossil fuel extraction ecosystem.
Risk averse with respect to the regulatory risks, ESG risks associated with coal sector, high D/E (2.45x), zero PAT growth in FY26 amidst strong revenue growth, and OFS from four promoters.
Investors are advised to exercise discretion and refer to the full DRHP/RHP document before reaching any investment decision. This analysis is for informative purposes and not investment advice.
Action Links:
To apply for Caliber Mining Limited IPO, open a demat account here
Caliber Mining Limited IPO Subscription Status: Check live subscription here
Caliber Mining Limited IPO GMP Update: Check latest grey market premium here
1. What is the Caliber Mining Limited IPO open and close date?
Caliber Mining and Logistics Mainboard IPO opens July 17, 2026 and closes July 21, 2026. Allotment: July 22. Refunds & Demat credit: July 23. Listing on BSE and NSE: July 24, 2026.
Track Caliber Mining Limited IPO subscription status live here from Finnpick.
2. What is the Caliber Mining Limited IPO price band and lot size?
The IPO is a book-built Mainboard issue with a price band: ₹402–₹424 per share (face value ₹10). Lot size: 35 shares. Minimum retail application: 1 lot (35 shares) = ₹14,840 at upper price band.
3. What is Caliber Mining Limited IPO total size?
The total issue size is ₹450.00 Cr comprising 94,33,962 fresh issue equity shares and ₹50 Cr OFS component received by the promoters.
4. How to apply for the Caliber Mining Limited IPO?
Open a demat here (Zerodha/Upstox/AngelOne) or apply ASBA by July 21, 4 PM. Monitor Caliber Mining Limited IPO subscription tracker here. Ensure your demat account is active and UPI mandate is approved before the closing time.
5. How to check Caliber Mining Limited IPO Allotment Status?
The allotment date is on July 22nd and can be checked on KFin Technologies Ltd. RTA portal using PAN/DP ID.
6. What is Caliber Mining Limited IPO GMP today and subscription status?
Current Grey Market Premium (GMP) stands at ₹72 as of July 14, indicating listing at the price range of ₹496 - check daily updates of Caliber Mining Limited IPO GMP trends here and live subscription status here from July 17th opening only on Finnpick.
7. What does Caliber Mining Limited specialize in?
Caliber Mining and Logistics Limited is a Nagpur-based integrated coal contract mining and logistics company incorporated in July 2014, ranking among India's top-10 contract mining operators. Services: overburden removal, coal extraction, coal loading/unloading, road and rail transportation coordination — primarily for Western Coalfields Limited (WCL) and Northern Coalfields Limited (NCL), both Coal India subsidiaries. Fleet: 1,473 vehicles including 600 mining tippers, 447 tip trailers, 96 excavators. Operations span Maharashtra, Chhattisgarh, and Madhya Pradesh.
8. When is the Caliber Mining Limited IPO listing date?
The IPO is scheduled to list on NSE BSE Mainboard on 24th July 2026, subject to final confirmation from the exchange. Basis of allotment is tentatively on 22nd July 2026, with refunds and demat credits around 23rd July 2026.
9. What are the Caliber Mining Limited IPO proceeds utilization details?
The IPO Fresh issue proceeds of ₹500 Cr directed at: repayment/pre-payment of outstanding borrowings (₹175 Cr), capital expenditure for purchase of mining machinery — excavators, tippers, tip trailers (₹200 Cr), and general corporate purposes. OFS proceeds of ₹100 Cr go to four selling promoter shareholders at ₹25 Cr each.
10. Who are the promoters of Caliber Mining Limited?
The promoters of Caliber Mining Ltd. are Mohit Satishkumar Chadda, Anuj Krishanlal Chadda, Manish Krishanlal Chadda, Rahul Roshanlal Chadda, and Priya Anuj Chadda. Pre-IPO promoter holding: 92.66% (5,35,83,333 shares).
11. Should I apply for the Caliber Mining IPO?
You may consider applying if you are comfortable with fundamentals: 60% revenue CAGR, top-10 market position in Indian coal contract mining, 38.47% ROE, 25.41% EBITDA margin, and ₹200 Cr fleet expansion plan are compelling. However, the high D/E of 2.45x, coal sector ESG risks, flat PAT growth in FY26, OFS by four promoters simultaneously, and CIL subsidiary concentration are key risks. Monitor Finnpick for price band and GMP announcements before deciding. This is for informational purposes only and not investment advice; read the RHP/DRHP and consult a SEBI-registered advisor before investing.
