Caliber Mining’s ₹450 crore IPO opens today; raises ₹135 crore from anchor investors ahead of issue

Mining and logistics services provider Caliber Mining and Logistics has raised ₹134.99 crore from anchor investors ahead of the opening of its initial public offering (IPO) today. The company allotted 31.84 lakh equity shares to anchor investors at ₹424 per share, the upper end of the IPO price band, according to an exchange filing.

Anchor investors include Ashoka India Equity Investment Trust Plc, Carnelian India Amritkaal Fund, and Abakkus Four2Eight Opportunities Fund.

The logistics services provider plans to raise ₹450 crore via an IPO, comprising a fresh issue of ₹400 crore and an offer for sale (OFS) of ₹50 crore by promoters.

The issue will remain open for subscription until July 21. The price band has been fixed at ₹402-₹424 per share, with investors able to bid for a minimum of 35 equity shares and in multiples thereafter.

The company had also completed a pre-IPO placement of ₹100 crore before the public issue.

As per the DRHP, the proceeds from the fresh issue will be used to repay or prepay certain borrowings, fund capital expenditure for the purchase of commercial vehicles, plant and machinery, and meet general corporate purposes.

Founded in 2014, Caliber Mining and Logistics is an integrated mining operator engaged in overburden removal, coal extraction and coal logistics. The company provides end-to-end mining services, including coal extraction, loading, unloading, road transportation and coordination of rail transportation.

Its operations span Maharashtra, Madhya Pradesh and Chhattisgarh, although it does not own any mines. The company's key customers include subsidiaries of Coal India Ltd., particularly Western Coalfields Ltd. (WCL) and Northern Coalfields Ltd. (NCL).

As of April 30, 2026, Caliber operated a fleet of 1,911 vehicles, plants and machinery, including 883 tippers, 162 excavators, 64 loaders and 362 tip trailers. The fleet comprises 1,811 owned and 100 leased vehicles and equipment. The company employed 5,521 people, including four employees on retainer. Its order book expanded sharply from ₹5,668 crore as of March 31, 2026, to ₹9,551 crore as of May 15, 2026.

For FY26, the company reported revenue from operations of ₹1,678 crore, up 17% from ₹1,430 crore in the previous financial year, while profit after tax increased 20% to ₹158 crore from ₹132 crore. EBITDA rose to ₹431 crore from ₹350 crore a year earlier. As of March 31, 2026, Caliber's total assets stood at ₹2,077 crore and its net worth increased to ₹648 crore, while total borrowings rose to ₹1,058 crore from ₹649 crore in FY25.

The basis of allotment for the IPO is expected to be finalised on July 22, while the company's shares are scheduled to debut on the BSE and NSE on July 24, 2026.

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