Blockbuster Response to Caliber Mining and Logistics Limited's IPO - Subscribed 23.73 Times on Day 2 of IPO

Issue Closes on Tuesday, July 21, 2026, for Bidding

 Mumbai, July 20, 2026: The Initial Public Offering of Caliber Mining and Logistics Limited was subscribed 23.73 times on the second day of bidding, demonstrating strong demand from retail and non-institutional investors for this IPO.

The issue received bids of 18,59,55,595 equity shares against the offered 78,35,821 equity shares, according to data available on the stock exchanges.

Non-Institutional Investors portion and Retail Portion were subscribed times 71.21 and 16.13 times, respectively. Qualified Institutional Buyers (QIB) was subscribed 1.42 times.

The issue kicked off for subscription on Friday, July 17, 2026, and will close for subscription on Tuesday, July 21, 2026.

Brokerage houses recommend Caliber Mining and Logistics

Leading brokerage firms like Adroit, Anand Rathi, SBI Securities, SMIFS Limited and Ventura Securities have given their “Subscribe” recommendation to Caliber Mining and Logistics Limited, which is a mining operator managing overburden removal, coal extraction and coal logistics together as an integrated services provider.  It has a fleet of 1,911 vehicles, plant and machinery (including 100 that are leased vehicles, plant and machinery) as of April 30, 2026 comprising of 883 tippers, 64 loaders, 162 excavators and 362 tip trailers.

Anand Rathi highlights the company offers integrated mining and logistics solutions, including coal extraction, overburden removal, coal loading and unloading, road transportation, and rail logistics coordination.

On the valuation front, based on FY26 earnings, the company is seeking a P/E of 17.5 times, and a post-issue market capitalization of approximately Rs. 27,719 million. The company reportedly has an order book of around Rs. 9,500+ crore, providing good revenue visibility over the next few years. Assign a “Subscribe” for long term-rating.

SBI Securities highlights the company is a one-stop coal mining and logistics provider, offering end-to-end services including coal extraction, overburden (OB) removal, coal loading & unloading, road transportation, and coordination of rail transportation.

On the valuation front, at the upper price band, the issue is valued at EV/EBITDA multiple of 7.7 times based on post-issue capital. Recommend “SUBSCRIBE” rating.

The table below shows subscription data for all the categories of investors:

Caliber Mining and Logistics Limited Last updated on 20 Jul 2026 | 05:00:00 PM
Sr.No.	Category	No.of shares offered/reserved	No. of shares bid for	No. of times of total meant for the category
1	Qualified Institutional Buyers (QIBs)	22,38,805	31,69,740	1.42
1(a)	Foreign Institutional Investors (FIIs)	-	2,03,805	-
1(b)	Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies)	-	8,680	-
1(c)	Mutual Funds	-	2,870	-
1(D)	Others	-	29,54,385	-
2	Non Institutional Investors(NIIS)	16,79,105	11,95,73,510	71.21
2.1	Non Institutional Investors(Bid amount of more than Ten Lakh Rupees)	11,19,404	7,84,23,765	70.06
2.1(a)	Corporates	-	5,54,505	-
2.1(b)	Individuals (Other than RIIs)	-	7,49,28,630	-
2.1(c)	Others	-	29,40,630	-
2.2	Non Institutional Investors(Bid amount of more than Two Lakh Rupees and upto 10 lakh rupees)	5,59,701	4,11,49,745	73.52
2.2(a)	Corporates	-	66,255	-
2.2(b)	Individuals (Other than RIIs)	-	3,97,60,385	-
2.2(c)	Others	-	13,23,105	-
3	Retail Individual Investors (RIIs)	39,17,911	6,32,12,345	16.13
3(a)	Cut Off	-	5,28,64,245	-
3(b)	Price Bids	-	1,03,48,100	-
4	Employee Reserved	-	-	-
4(a)	Employee (Cut off)	-	-	-
4(b)	Employee (Price)	-	-	-
5	Reservation PortionShareholder	-	-	-
5(a)	RPS (Cut off)	-	-	-
5(b)	RPS (Price)	-	-	-
	Total	78,35,821	18,59,55,595	23.73