Central Mine shares list at 7% discount; should you exit or stay invested?

Central Mine Planning Share Price: Central Mine Planning shares began trading on the BSE at ₹162.80, down ₹9.20, or 5.35 per cent, against the IPO issue price of ₹172 per share

Central Mine Planning Share Price: Shares of Central Mine Planning and Design Institute (CMPDI) made a dull debut on Dalal Street on Monday, March 30, after the Coal India subsidiary raised ₹1,842.12 crore through its initial public offering (IPO).

 

The company’s shares began trading on the BSE at ₹162.80, down ₹9.20, or 5.35 per cent, against the IPO issue price of ₹172 per share. On the NSE, the stock opened at ₹160 per share, down ₹12, or 6.98 per cent, compared with the issue price. 

Central Mine Planning IPO listing came below grey market estimates. Ahead of the debut, the stock was quoted at around ₹177 in the grey market, indicating a premium of ₹5, or 2.19 per cent, over the issue price of ₹172, according to sources tracking unofficial markets.   Central Mine Planning shares recovered mildly later in the morning but continued to trade below the issue price. At 10:34 AM, the stock was quoted at ₹163.91 on the NSE, against the opening price of ₹160.

 

Should you exit or stay invested?

According to Kranthi Bathini, equity strategist at WealthMills Securities, the prospects for Central Mine Planning look good for medium- to long-term investors. “The current downtrend in the broader market has triggered some profit-booking, which is reflected in the IPO stocks listed over the past year. Going ahead, the company’s performance over the next couple of quarters will be crucial for making any serious investment decisions,” he said.

 

For investors who were allotted shares in the IPO, Bathini advised holding them for the long term. However, for fresh buyers, he suggested waiting for the company to announce results over the next two to three quarters.

 

“Since it is a public sector undertaking and mining companies are expected to perform well in the coming period, long-term investors can hold on. New investors should wait for a couple of quarters of results before buying,” Bathini added.    Ravi Singh, chief research officer at Master Capital Services, said that in the near term, the stock may remain volatile and move within a range as the market digests the listing. That said, Singh believes the business itself remains stable, backed by its association with Coal India. "For investors, the approach should be to hold from a long-term perspective, keeping a strict stop loss around 140. Fresh buying can be avoided for now until the stock shows clearer signs of stability," he added.

Central Mine Planning IPO details

The public issue of Central Mine Planning and Design Institute comprised entirely an offer for sale (OFS) of 107.1 million shares aggregating up to ₹1,842.12 crore. The issue was offered in a price band of ₹163 to ₹172 per share, with a lot size of 80 shares. The public issue was open for subscription from March 20 to March 24, 2026.

 

The issue received a subdued response from investors, with an overall subscription of 1.05 times. This was largely driven by qualified institutional buyers (QIBs), whose portion was subscribed 3.48 times. The non-institutional investors (NII) and retail investors’ segments were subscribed 27 per cent and 33 per cent, respectively, according to BSE data. In total, the issue received bids for 83.71 million equity shares against 79.78 million shares on offer.

 

The basis of allotment was finalised on Wednesday, March 25, 2026, with the company fixing the issue price at ₹172 per share.

 

Kfin Technologies served as the registrar to the issue, while IDBI Capital Markets & Securities and SBI Capital Markets acted as the book-running lead managers.

 

As the issue was entirely an offer for sale, the company will not receive any proceeds from the IPO. “Our Company will not receive any proceeds from the Offer (the ‘Offer Proceeds’) and all the Offer Proceeds will be received by the Promoter Selling Shareholder after deduction of Offer-related expenses and relevant taxes thereon, to be borne by the Promoter Selling Shareholder,” said the company in its red herring prospectus (RHP).  =======================  (Disclaimer: Views and recommendations are those of the brokerage/analyst and are not endorsements. Readers should exercise discretion.)