Upcoming IPOs: Caliber Mining And Logistics Submits Draft Papers For Maiden Issue To Raise Rs 600 Crore

The maiden listing comprises a fresh issue of equity shares worth up to Rs 500 crore and an offer-for-sale (OFS) of shares coming up to Rs 100 crore by the promoters, the DRHP revealed.

Caliber Mining and Logistics submitted the preliminary papers with the Securities and Exchange Board of India (SEBI) to raise Rs 600 crore via an initial public offering (IPO). The Nagpur-based coal mining and logistics provider shared the draft papers for the maiden listing with the capital markets regulator.

The maiden listing comprises a fresh issue of equity shares worth up to Rs 500 crore and an offer-for-sale (OFS) of shares coming up to Rs 100 crore by the promoters, the draft red herring prospectus (DRHP) revealed. The OFS would see Anuj Krishnalal Chadda, Manish Krishnalal Chadda, Mohit Satishkumar Chadda, and Rahul Roshanlal Chadda offload their shares worth Rs 25 crore each in the company, reported PTI.

The firm could be looking into a pre-IPO placement of shares worth Rs 100 crore. If the pre-IPO placement is finalised, the size of the fresh issue would be reduced. The draft papers filed on December 30, 2024, stated that the net proceeds worth Rs 175 crore would be utilised by the firm to repay debt. 

The proceeds worth Rs 200 crore would be utilised to fund capital expenditure for acquiring machinery and general corporate purposes.

A report by CRISIL revealed that the firm’s revenue from operations climbed at a CAGR of 60.05 per cent from Rs 372 crore in the 2021-22 fiscal year (FY22) to Rs 953 crore in the 2023-24 fiscal year (FY24).

The firm dealt with providing end-to-end services such as coal extraction, coal loading and unloading, road transportation, and coordination of rail transportation. Some of the largest customers of the company include Western Coalfields and Northern Coalfields, the mine-owning subsidiaries of state-owned Coal India Ltd.

As of June 30, 2024, the firm clocked a revenue of Rs 364 crore and recorded a profit after tax of Rs 34.43 crore. The sole book-running lead manager of the company is DAM Capital Advisors, while KFin Technologies is the registrar of the issue.