06 January 2025, 03:26 PM
Caliber Mining And Logistics Ltd.
Caliber Mining and Logistics has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 600 crore through an initial public offering (IPO). The IPO is a combination of fresh issue of equity shares worth up to Rs 500 crore and an offer-for-sale (OFS) of shares aggregate to Rs 100 crore by the promoters.
The net proceeds worth Rs 175 crore will be utilised by the company towards repayment of debt, Rs 200 crore for funding capital expenditure for purchase of machinery and general corporate purposes. DAM Capital Advisors is the sole book-running lead manager to the public issue. The shares are proposed to be listed on the BSE and the NSE.
The Nagpur-based firm offers end-to-end services including coal extraction, overburden removal, coal loading and unloading, road transportation and coordination of rail transportation, making it a one-stop coal mining and logistics provider. Its largest customers are mine owing subsidiaries of state-owned Coal India such as Western Coalfields and Northern Coalfields.