Caliber Mining and Logistics IPO
Caliber Mining and Logistics LtdMainboard
This IPO has listed.
- Open date
- 17 Jul 2026
- Close date
- 21 Jul 2026
- Min. Investment
- ₹14,840
- Lot Size
- -
- Fresh Issue
- ₹400.00 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- -
Subscription rate
- Qualified Institutional Buyers240.71x
- Non-Institutional Investors267.36x
- Retail-Individual Investors41.15x
- Total146.64x
Schedule
- Completed: IPO open date17 Jul 2026
- Completed: IPO close date21 Jul 2026
- Completed: Allotment date22 Jul 2026
- Completed: Funds unblock or debit23 Jul 2026
- Completed: Tentative listing date24 Jul 2026
About
Promoter shareholding in Caliber Mining and Logistics Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Mohit Satishkumar Chadda | 1,87,28,188 | 33.48% | 1,84,33,377 | 28.20% |
| Anuj Krishanlal Chadda | 1,31,82,189 | 23.56% | 1,28,87,378 | 19.71% |
| Manish Krishnalal Chadda | 63,85,189 | 11.41% | 60,90,378 | 9.32% |
| Rahul Roshanlal Chadda | 1,00,55,189 | 17.97% | 97,60,378 | 14.93% |
| Priya Anuj Chadda | 1,20,000 | 0.21% | 1,20,000 | 0.18% |
| Krishanlal Dogarram Chadda | 1,20,000 | 0.21% | 1,20,000 | 0.18% |
| Sumanlata Krishnakumar Chadd | 1,20,000 | 0.21% | 1,20,000 | 0.18% |
| Sunita Honey Chachra | 1,20,000 | 0.21% | 1,20,000 | 0.18% |
| Arti Sethi | 1,20,000 | 0.21% | 1,20,000 | 0.18% |
| Roshanlal Dogarram Chadda | 1,20,000 | 0.21% | 1,20,000 | 0.18% |
| Shivani Rahul Chadda | 1,20,000 | 0.21% | 1,20,000 | 0.18% |
| Neelam Manish Chadda | 1,20,000 | 0.21% | 1,20,000 | 0.18% |
| Anjana Satishkumar Chadda | 1,20,000 | 0.21% | 1,20,000 | 0.18% |
| Kirti Mohit Chadda | 1,20,000 | 0.21% | 1,20,000 | 0.18% |
| Rachna Wadhwa | 1,20,000 | 0.21% | 1,20,000 | 0.18% |
| Sunita Kapila | 4,166 | 0.01% | 4,166 | 0.01% |
Financials of Caliber Mining and Logistics IPO
| Key Performance Indicators | Mar 2023 | Mar 2024 | Mar 2026 |
|---|---|---|---|
| Operating Revenue | - | - | - |
| Other Income | - | - | - |
| Total Income | 865.45 | 953.12 | 1677.66 |
| Total Expenses | 764.56 | 833.20 | 1472.12 |
| Profit Before Tax | - | - | - |
| Total Profit | 80.30 | 95.90 | 157.90 |
Caliber Mining and Logistics IPO Strengths & Risks
- End-to-end coal mining and logistics solution provider.
- Execution experience and operational efficiencies yielding opportunities for new L-1 orders.
- Growing share of business in mining industry and from Coal India subsidiaries backed by order book of Rs. 9,55,089.08 lakhs as at May 15, 2026.
- Proven track record of growth with financial performance.
- Industry experience and legacy led promoters supported by a management team and professionals.
- Risks Relating to the Business: The company's mining operations is subject to operating risks. Accidents and other operating risks including flooding, disruptions due to truck machinery and equipment failures and unavailability of diesel fuel and water which could result in decreased production or increased cost of production, which could adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: The company derives a significant portion (90.11% in Fiscal 2026) of its revenue from operations from the company's top three customers, with its single largest customer, Northern Coalfields Limited, contributing 44.16% of the company's revenue from operations in Fiscal 2026. Loss of any of its top customers could adversely affect the company's business, results of operations and financial condition.
- Risks Relating to the Business: The success of the company's logistics business depends on its ability to generate sufficient freight volumes of coal and iron ore and optimise revenue to achieve desired profit margins and avoid losses. Any failures on its part to achieve desired operating or net profit margins could have an adverse impact on the company's business, results of operations and financial condition.
- Risks Relating to the Business: Increase in the cost of power and fuel and stores and spares used in the company's operations, or the inability to obtain the necessary power and fuel or a sufficient quantity of stores and spares, could increase its operating expenses, disrupt or delay the company's production and materially and adversely affect profitability.
- Risks Relating to the Business: The company is dependent on the award of large-scale mining contracts (over Rs.100,000 lakhs) which represented 76.12% of its revenue from operations in Fiscal 2026 and may represent a significant part of the company's Order Book in the future, increasing the potential volatility of its results of operations and cash flows and exposure to individual contract risks. Further, the award of future mining services contracts is subject to uncertainty and the company's failure to win future awards could adversely impact its business, results of operations and financial condition.
- Risks Relating to the Business: The company will not receive any proceeds from the Offer for Sale. The Selling Shareholders will receive the net proceeds from the Offer for Sale.
- Risks Relating to the Business: The company has in the past entered into related party transactions and may continue to does so in the future.
- Risks Relating to the Business: The company's mining operations requires various approvals, licenses and permits which its mining customers must obtain or secure and any failures to obtain these approvals, licenses or permits in a timely manner may adversely impact on the company's business, results of operations and financial condition. The company is responsible for obtaining labour licenses and for approvals for the storage of diesel from the Indian Petroleum Explosive Safety Organisation (PESO). If its and the company's customers does not comply with all necessary licenses, permits and approvals required for its mining activities in a timely manner or at all the company's business results of operations and financial condition could be materially and adversely affected.
- Risks Relating to the Business: Extensive governmental regulation relating to employee safety and health impose significant costs to the company's mining operations. A violation of health and safety requirements and the occurrence of accidents could disrupt its operations and increase operating costs as the company does not maintain insurance coverage against various potential risks associated with its operations, including any accidents or other hazards.
- Risks Relating to the Business: Delay/ default in payment of statutory dues may attract penalties and in turn have an adverse impact on the company's financial condition.
- Risks Relating to the Business: There are certain assessment notices issued against the Company pursuant to search operations carried out by the Income Tax authorities at the premises of the Company and its Promoters. The Company has filed replies to the notices received. There can be no assurance that the Income Tax Department will accept these replies filed by the Company and that there will be no additional tax liability imposed on the Company.
- Risks Relating to the Business: The company failed to appoint a company secretary during the period from December 8, 2022 to July 29, 2024. Additionally, in the company's private placement of 20,83,333 Equity Shares on September 30, 2024, its does not open a separate bank account, and the company's utilised the proceeds from the issuance prior filing of PAS-3, in violation of Section 42 of the Companies Act, 2013. Its cannot assure you that such non-compliances will not occur in future or that no legal proceedings or regulatory actions will be initiated against the company for such noncompliances.
- Risks Relating to the Business: The company's mining operations is concentrated in Maharashtra, Chhattisgarh and Madhya Pradesh. Any significant social, political, economic or seasonal disruption, natural calamities or civil disruptions in Maharashtra, Chhattisgarh and Madhya Pradesh could have an adverse effect on its business, results of operations and financial condition.
- Risks Relating to the Business: The Company may not be successful in expansion into Odisha and Jharkhand which may adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: The company operates in a competitive industry and may not be able to maintain its market position. Competitors in the company's peer group is both larger and smaller in size and scope of business, some are present in multiple sectors and its competitors may have better margins than the company and may perform better than its in terms of key financial ratios. If the company is unable to compete successfully with competitors in its peer group, the company's business, results of operations, cash flows may be adversely affected.
- Risks Relating to the Business: The company is dependent on third party suppliers for lubricants, tyres, steel and other materials, as well as spare parts and other consumables. Any disruption to the timely and adequate supply of such materials, spare parts or consumables or volatility in their prices may adversely impact its business, results of operations and financial condition.
- Risks Relating to the Business: The company is subject to various risks associated with the mining logistics industry and its may faces claims relating to loss or damage to the company's coal or iron ore cargos, personal injury claims or other operating risks that are not adequately insured.
- Risks Relating to the Business: There are two outstanding criminal proceedings against the company's Promoters and one pre-litigation notice against its Company. Any adverse decision in such proceedings may render the company/them liable to liabilities/penalties and may adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: The company's success largely depends upon the knowledge and experience of its Promoters, Directors, Key Managerial Personnel and Senior Management as well as the company's ability to attract and retain personnel with technical expertise. Its inability to retain the company's Directors, Key Managerial Personnel and Senior Management or its ability to attract and retain other personnel with technical expertise could adversely affect the company's business, results of operations and financial condition.
- Risks Relating to the Business: The company may be subject to industrial unrest and increased employee costs, which may adversely affect its business and results of operations.
- Risks Relating to the Business: The company has significant capital expenditure and working capital requirements and may requires additional financing to meet those requirements, which could have an adverse effect on its business, results of operations and financial condition.
- Risks Relating to the Business: The company's inability to collect receivables in time or at all and default in payment from its customers could result in the reduction of the company's profits and affect its cash flows.
- Risks Relating to the Business: The company has incurred indebtedness, and an inability to comply with repayment and other covenants in the company's financing agreements could adversely affect its business and financial condition. In Fiscal 2026 and in Fiscal 2025 and Fiscal 2024, the company has experienced a high debt to equity ratios of 1.63, 1.33 and 2.45, respectively.
- Risks Relating to the Business: Any significant decline in the demand for the company's coal in the power industry in India due to increasing use of renewable energy sources or otherwise could have a material adverse effect on its business, results of operations and financial condition.
- Risks Relating to the Business: Many of the company's key financial ratios have fluctuated from period to period and in some cases have declined in recent periods. A decline in the company's key financial ratios may indicate a decline in the performance of its results of operations and financial condition.
- Risks Relating to the Business: The company has experienced negative cash flows in Fiscal 2025 and Fiscal 2024. Any negative cash flows in the future could adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: Any downgrade in the company's credit ratings may increase interest rates for refinancing its outstanding debt, which would increase the company's financing costs, and adversely affect its future issuances of debt and the company's ability to raise new capital on a competitive basis.
- Risks Relating to the Business: The company's contingent liabilities could materially and adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: The company's operations is sensitive to seasonal changes and an abnormal rainy monsoon season could materially affect its business, results of operations and financial condition.
- Risks Relating to the Business: Contracts awarded to the company by Western Coalfields Limited and Northern Coalfields Limited is standard form contracts and contain many terms that favour the counterparty and may be prejudicial to its rights under such contracts. The company's inability to exercise control over the terms of its arrangements with Western Coalfields Limited and Northern Coalfields Limited may adversely affect the company's results of operations.
- Risks Relating to the Business: The company's mining contracts provide for a fixed rate based on its production of coal and the Company is exposed to increases in the cost of construction materials, fuel, and equipment other than for specified force majeure events which cannot be passed on. This may affect the company's margins and in turn its operations, financial condition and cash flows.
- Risks Relating to the Business: The company's mining contracts may be terminated or penalties demanded upon the occurrence of certain events. Any termination of its mining contracts or demand for penalties by the company's customers could materially and adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: The company may not has sufficient insurance coverage to cover its economic losses as well as certain other risks, not covered in the company's insurance policies, which could adversely affect business, results of operations and financial condition.
- Risks Relating to the Business: The company's coal production from open cast mines involve is subject to extensive environmental and hazardous waste management laws and regulations in India, including the Environmental Protection Act, 1986. Under its mining contracts, compliance costs and capital expenditures related to these environmental requirements is the responsibility of the company's customers. Its may incur environmental liabilities in respect of the company's operations which are not covered by the terms of its mining contracts with the company's customers.
- Risks Relating to the Business: The Company has experienced instances of delays in filing GST returns under the Goods and Services Act, 2017, as amended and other applicable laws. Any failures or delay in payment of such returns may expose its to potential financial and reputational risks and may adversely impact the company's business, results of operations, cash flows and financial condition.
- Risks Relating to the Business: The company has a trademark application pending for its name and corporate logo. If the company is unable to protect its intellectual property rights, the company's business, results of operations and financial condition may be adversely affected. Its might infringe upon the intellectual property rights of others and any misappropriation of the company's intellectual property could harm its competitive position.
- Risks Relating to the Business: Failures to maintain confidential information of the company's customers could adversely affect its reputation, business, results of operations and financial condition.
- Risks Relating to the Business: Certain of the company's Directors and Promoter Shareholders has provided personal guarantees to lenders for certain loan facilities availed by its Company, which if invoked could adversely affect their ability to manage the company's affairs and which in turn may adversely impact its business, results of operations and financial condition.
- Risks Relating to the Business: The company has issued Equity Shares during the preceding one year at prices below the Offer Price.
- Risks Relating to the Business: After the completion of the Offer, the company's Promoters will continue to collectively hold substantial shareholding in the Company.
- Risks Relating to the Business: The company's Promoters, Directors, Key Managerial Personnel and members of Senior Management are interested in the Company other than reimbursement of expenses or normal remuneration or benefits which may result in a conflict of interest with its. The company cannot assure you that its Promoters, Directors, Key Managerial Personnel and members of Senior Management will exercise their rights for the benefit, or in the best interests of the Company.
- Risks Relating to the Business: Conflicts of interest may arise out of business ventures in which certain of the company's Promoters and certain Directors is interested by virtue of, inter alia, shareholding and partnerships. Such potential conflict of interests could adversely affect its business, results of operations, profitability, margins, cash flows and financial condition.
- Risks Relating to the Business: Any variation in the utilisation of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
- Risks Relating to the Business: The company's funding requirements and the proposed deployment of Net Proceeds from the Fresh Issue has not been appraised by any bank or financial institution or any other independent agency and its management will have broad discretion over the use of the Net Proceeds from the Fresh Issue.
- Risks Relating to the Business: The Company proposes to utilize an amount of Rs. 16,700 lakhs for funding capital expenditure towards purchase of trucks, equipment and machinery, based on its current estimates. The company is yet to place orders for these capital expenditures. In the event of any delay in placement of such orders, the proposed schedule of implementation and deployment of the Net Proceeds may be extended or may vary.
- Risks Relating to the Business: The company's Subsidiary may not pay cash dividends on shares that its hold in it. Consequently, the Company may not receive any return on investments in the company's Subsidiary.
- Risks Relating to the Business: The company depends on key equipment and machinery to conduct its coal mining operations. Acquisition of mining equipment is capital intensive, and if such equipment is not utilized in a productive and efficient manner, the company may not realize the benefits its expect from such equipment and the company's business and results of operations may be adversely affected.
- Risks Relating to the Business: The company outsources a portion of its coal logistics business to third party transportation and logistics service providers. Any failures on the part of these third parties to meet the company's customer's requirements could adversely affect its logistics business.
- Risks Relating to the Business: The company is susceptible to risks relating to accidents due to human error, which can lead to injury or loss of human life and cause interruptions and disruptions to the company's mining and logistics operations. Moreover, misconduct or errors by manpower engaged by its could expose the company to business risks.
- Risks Relating to the Business: Failures or disruption of the company's information technology and enterprise resource planning systems may adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: The company's pursuit of joint ventures as consortium partners with third-parties on new coal mining services contracts exposes its to risks that could adversely affect the company's business, results of operation and financial condition.
- Risks Relating to the Business: The company leases its Registered Office, branch office, and site offices for operations. If some of these leases are terminated or not renewed on favourable terms, or at all, its business, results of operations and financial conditions could be adversely affected.
- Risks Relating to the Business: The company's inability to successfully implement some or all its business strategies in a timely manner or at all could have an adverse effect on the company's business.
- Risks Relating to the Business: If the company does not continue to invest in new technologies and equipment, its machines and equipment may become obsolete and the company's production costs may increase relative to its competitors, which may have an adverse impact on the company's business, results of operations and financial condition.
- Risks Relating to the Business: The company's associates may not pay cash dividends on shares that its hold in them. Consequently, the Company may not receive any return on investments in its associates.
- Risks Relating to the Business: If the company is unable to establish and maintain an effective internal controls and compliance system, its business and reputation could be adversely affected.
- Risks Relating to the Business: Information relating to the company's coal extraction production and overburden removal production included in this Red Herring Prospectus are based on various assumptions and estimates and future production may vary.
- Risks Relating to the Business: Certain sections of this Red Herring Prospectus contain information from the CRISIL Report which the company's commissioned and purchased and any reliance on such information for making an investment decision in the Offer is subject to inherent risks.
- Risks Relating to the Business: The company has in this Red Herring Prospectus included certain Non-GAAP Measures that may vary from any standard methodology that is applicable across the mining and logistics industries and may not be comparable with financial information of similar nomenclature computed and presented by other companies.
- Risks Relating to the Business: The company has not obtained an independent valuation report in connection with the acquisition of equity shares of Caliber Natural Resources Private Limited and Caliber Mines and Minerals Private Limited from its Promoters, which may expose the company to regulatory scrutiny.
