Caliber Mining & Logistics closed its ₹450 crore mainboard IPO on 21 July 2026 after a 146.64x overall subscription, with allotment finalised 22 July. Here’s what the RHP discloses about the business behind the numbers.
Business Overview
Caliber Mining and Logistics provides integrated mining and logistics services on a contractual basis — overburden removal, coal extraction, loading and unloading, road transportation, rake loading, rail coordination and coal trading. Its projects are concentrated in Maharashtra, Madhya Pradesh and Chhattisgarh, with its largest customers being Coal India subsidiaries Western Coalfields Limited (WCL) and Northern Coalfields Limited (NCL). As of 30 April 2026, its fleet stood at 1,911 vehicles, plant and machinery combined (owned and leased), supported by in-house maintenance workshops at its Chandrapur headquarters and several mine sites.
IPO Structure
The issue combined a fresh issue of 94.33 lakh shares (₹400 crore) with an offer for sale of 11.79 lakh shares (₹50 crore), at a price band of ₹402–424 per share and a lot size of 35 shares.
Objects of the Issue
The bulk of the fresh-issue proceeds are earmarked for reducing debt and strengthening the balance sheet, alongside supporting operational and fleet capacity.
Financial Snapshot
The RHP shows a business scaling quickly but carrying meaningfully more debt alongside it: revenue has compounded at roughly 33% over two years, and the order book stood at ₹9,551 crore as of 15 May 2026 — close to six times FY26 revenue. FY26 operating cash flow of ₹411 crore was a record for the company, but borrowings rose ₹366 crore during the year and reached ₹1,631 crore by end-April 2026, against just ₹7 crore of cash on hand at FY26 close. Its long-term borrowings carry a CRISIL BBB+ (Stable) rating, with a CRISIL A2 rating on short-term borrowings, both dated 26 March 2026.
Source: Caliber Mining & Logistics Ltd RHP filed with SEBI; issue details as disclosed to NSE/BSE. This article is for informational purposes only and is not investment advice — please read the full offer document before applying.