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Caliber Mining and Logistics Limited provides integrated mining and logistics services for coal mining projects across India. The company has reported steady growth in revenue, EBITDA, profit after tax and net worth over the last three financial years. While the IPO offers investors an opportunity to participate in the company's growth, it is important to evaluate factors such as customer concentration, dependence on the coal sector, project execution capability and regulatory risks before making an investment decision.
The coal industry in India helps generate power, manufacture steel, and support other industries. As the demand for coal remains on the rise, mining firms become dependent on specialised contractors to undertake excavation, logistics, and mine development work.
Caliber Mining and Logistics Ltd. is one such firm. It offers comprehensive mining and logistics services to coal mining projects located in various parts of India. The firm engages itself in tasks like removal of overburden, coal mining, transportation, and coal handling through long term agreements with its customers.
The firm's Initial Public Offering (IPO) starts from 17 July 2026 and ends on 21 July 2026. The IPO comprises a fresh issue of equity shares and an Offer for Sale by certain promoter selling shareholders. This article explains the company's business, IPO details, financial performance, strengths, risks and other important information that investors may consider before applying.
The table below summarises the key details of the Caliber Mining and Logistics IPO based on the Red Herring Prospectus (RHP).
Particular | Details |
IPO Type | Book Built Issue |
IPO Open Date | 17 July 2026 |
IPO Close Date | 21 July 2026 |
Anchor Investor Bidding | 16 July 2026 |
Listing Date | 24 July 2026 (Tentative) |
Face Value | ₹10 per equity share |
Price Band | ₹402 to ₹424 per share |
Lot Size | 35 Equity Shares |
Fresh Issue | 94,33,962 Equity Shares (₹400 crore) |
Offer for Sale | 11,79,245 Equity Shares (₹50 crore) |
Total Issue Size | 1,06,13,207 Equity Shares (₹450 crore) |
Listing Exchange | BSE and NSE |
The IPO consists of a fresh issue aggregating up to ₹400 crore and an offer for Sale aggregating up to ₹50 crore by certain promoter selling shareholders. The company plans to list its equity shares on both the BSE and the NSE.
Caliber Mining and Logistics Limited was incorporated on 3 July 2014 as Caliber Mercantile Private Limited. In July 2024, the company changed its name to Caliber Mining and Logistics Private Limited to reflect its business activities. It was subsequently converted into a public limited company and renamed Caliber Mining and Logistics Limited on 10 September 2024.
The company has its registered office in Chandrapur, Maharashtra, and its corporate office in Nagpur, Maharashtra.
Caliber Mining and Logistics provides integrated mining services to customers in the coal sector. Its operations cover the complete mining value chain, from mine development to coal extraction and transportation. The company uses its fleet of heavy earth-moving equipment, trucks, and mining machinery to execute projects efficiently.
Its key business activities include:
Overburden removal
Coal extraction
Coal transportation
Mine development
Coal handling services
Deployment and operation of heavy mining equipment
The company mainly serves coal mining projects and works under long-term mining contracts awarded by its customers.
Caliber Mining and Logistics earns revenue by executing mining contracts for coal producers. Its income primarily comes from excavation, overburden removal, coal extraction, transportation, and related logistics services. The company also generates revenue through the deployment of mining equipment and the execution of integrated mining projects.
The company operates in India's contract mining and logistics industry, which plays an important role in supporting coal production. According to the Red Herring Prospectus (RHP), it has built operational capabilities through its fleet of heavy earth-moving machinery, project execution experience and long-term customer relationships. These strengths enable the company to undertake large mining contracts across different locations.
Coal remains an important source of energy in India. Coal is extensively used for the generation of power and assists sectors like steel, cement, and manufacturing. As there is an increasing need for energy production and industrialisation, coal is bound to be one of the major sources of energy for the country for many years to come.
There have been certain initiatives taken by the Indian government for encouraging domestic coal mining along with efficient mining practices. This includes commercial mining of coal, auctions for coal blocks, and the participation of the private sector. Investments made in the infrastructure of mining and mining machinery have resulted in increased production.
This has increased the demand for organisations that provide mining and logistics services. Contractors involved in mine development, overburden removal, coal mining and transportation play a significant role in mining operations.
Caliber Mining and Logistics Limited operates in this segment by providing integrated mining and logistics services. Its business includes mine development, coal extraction, transportation and equipment deployment for coal mining projects.
The financial performance of Caliber Mining and Logistics Limited reflects growth in revenue and profitability over the last three financial years. The table below presents key financial information from the RHP, with figures shown in ₹ crore for ease of understanding.
Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
Assets | 2,077.39 | 1,404.09 | 1,279.18 |
Total Income | 1,684.66 | 1,435.57 | 957.92 |
Profit After Tax | 157.90 | 131.55 | 95.90 |
EBITDA | 430.92 | 349.77 | 243.14 |
Net Worth | 647.54 | 489.30 | 295.93 |
Caliber Mining and Logistics provides end-to-end mining services for coal mining projects. Its operations include mine development, overburden removal, coal extraction, transportation, and coal handling. Offering multiple services under one contract allows the company to support customers throughout different stages of a mining project.
The company owns and operates a fleet of heavy earth-moving machinery, trucks and mining equipment used across its projects. Ownership of equipment facilitates the operations of the firm and reduces dependence on third parties for their use.
This firm undertakes mining contracts for its clients in the coal industry. Long-term contracts improve the continuity of business and visibility in terms of how the project is executed.
Caliber Mining and Logistics is experienced in undertaking mining and logistics services in various project sites. This involves activities such as excavation, transport, and development of mines using mechanical equipment.
A large proportion of the company's revenue is derived from coal mining projects. Any reduction in mining activity, delays in project execution or changes in government policies relating to the coal sector could affect its operations and financial performance.
The company derives a portion of its revenue from a limited number of customers. A decline in business from these customers or the non-renewal of contracts could affect future revenue.
Mining operations depend on the availability and maintenance of heavy machinery. Equipment breakdowns, maintenance issues or disruptions in the supply of spare parts may affect project execution.
Mining projects are subject to various environmental and regulatory requirements. Changes in regulations or delays in obtaining approvals may affect operations and project timelines.
An increase in fuel prices or other input costs could affect operating margins if the additional costs cannot be passed on to customers.
The company's business strategy and integrated mining and logistics services.
Revenue and profitability growth over the last three financial years.
Customer diversification and contract tenure.
Equipment fleet and project execution capabilities.
Exposure to the coal mining industry.
Planned utilisation of IPO proceeds.
Risks relating to project execution, equipment availability and regulatory compliance.
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