Retail Portion Subscribed 1.58 Times on Day 1

Mumbai: The Initial Public Offering of Caliber Mining and Logistics Limited was subscribed 1.21 times on the first day of bidding, demonstrating strong demand from retail and non-institutional investors for this IPO.

The issue received bids of 95,15,695 equity shares against the offered 78,35,821 equity shares, according to data available on the stock exchanges.

Retail Portion and Non-institutional portion were subscribed 1.58 times and 1.59 times, respectively. Qualified Institutional Buyers (QIB) was subscribed 0.29 times.

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

A day before the opening of the issue, Caliber Mining and Logistics Limited had raised nearly Rs 135 crore from anchor investors.

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.