Caliber Mining and Logistics will convey Rs 600 crore IPO, papers filed with SEBI – INA NEWS

Caliber Mining and Logistics IPO: Caliber Mining and Logistics, backed by Sunil Singhania’s Abacus Asset Managers, goes to launch its IPO. This Maharashtra-based firm has filed draft papers with market regulator SEBI. The corporate intends to boost Rs 600 crore by public concern. In line with the draft papers filed on December 30, new shares price Rs 500 crore shall be issued within the IPO. Moreover, shares price Rs 100 crore shall be offered by the promoters by Provide for Sale (OFS).

Particulars associated to Caliber Mining and Logistics IPO

Moreover, Caliber Mining & Logistics could look to boost Rs 100 crore in a pre-IPO spherical. If this occurs then the scale of the brand new concern shall be diminished. Promoter Chadda household holds 94.91 p.c stake in Caliber Mining. The remaining 5.09 per cent stake is held by public shareholders, which additionally consists of 3.89 per cent stake from Abacus Four2Eight Alternatives Fund, Class II Different Funding Fund.

Caliber Mining & Logistics gives coal mining and logistics providers. It competes with listed firms like Energy Mech Tasks, NCC, Indus Commerce Hyperlinks and Dilip Buildcon. The corporate has raised Rs 62 crore by non-public placement of 25,83,333 fairness shares at a worth of Rs 240 per share in September-October this yr. Out of which Rs 50 crore was offered by Abakkus for 20,83,333 fairness shares.

The place will Caliber Mining and Logistics use the funds?

The corporate plans to make use of Rs 175 crore of the proceeds from the brand new concern to repay debt (complete excellent Rs 767.65 crore as of October 2024). Moreover, Rs 200 crore shall be spent for the acquisition of equipment and the remaining quantity for common company functions.

Caliber Mining and Logistics enterprise

Caliber Mining & Logistics is a number one firm in coal mining and logistics providers. Its providers embrace coal mining, overburden removing, coal loading and unloading, highway transportation, co-ordination of rail transportation. The corporate’s mining and overburden removing providers are situated in Maharashtra, Chhattisgarh, and Madhya Pradesh. Western Coalfields and Northern Coalfields, that are subsidiaries of Coal India, are Calibre’s largest prospects.

Caliber Mining has an order guide of Rs 5084.7 crore until October 2024, of which 96.60 per cent includes coal mining providers and overburden removing providers. The remaining 3.40 per cent includes logistics service contracts and work orders. DAM Capital Advisors is the only guide working lead supervisor for the IPO.

Disclaimer: The knowledge offered right here is for info solely. You will need to point out right here that investing available in the market is topic to market dangers. As an investor, at all times seek the advice of an professional earlier than investing cash. Moneycontrol by no means advises anybody to take a position cash right here.