Caliber Mining & Logistics IPO Review 2026: Financials & Risks

Caliber Mining & Logistics IPO is a mainboard issue from a Chandrapur-based integrated service provider that has spent over a decade handling coal mining, overburden removal and logistics operations for some of India's largest coal producers.

The company combines mining-support services with road and rail logistics coordination, working primarily with subsidiaries of Coal India Limited. The ₹450 crore IPO is a mix of fresh issue and offer for sale, with the fresh issue proceeds earmarked mainly for debt repayment and machinery purchase.

For live GMP, subscription numbers and the application link, visit the Caliber Mining & Logistics IPO page on IPO Ji.

Of the ₹450 crore issue, the fresh issue component of 94,33,962 shares (aggregating up to ₹400 crore) will go directly to the company, while the offer for sale of 11,79,245 shares (aggregating up to ₹50 crore) will go to selling shareholders. The fresh issue proceeds are earmarked for repayment or prepayment of certain borrowings (₹208.0 crore), funding capital expenditure for the purchase of machinery (₹167.0 crore), and general corporate purposes. Kfin Technologies Limited is the registrar, and Dam Capital Advisors Limited is the lead manager for the Caliber Mining & Logistics IPO.

For the complete lot-size table, live subscription tracker and application link, see the Caliber Mining & Logistics IPO detail page on IPO Ji.

Check the Caliber Mining & Logistics IPO GMP on IPO Ji for real-time updates as they show up.

About Caliber Mining & Logistics Limited

Caliber Mining and Logistics Limited, incorporated in 2014, functions as an integrated service provider with expertise in coal mining and logistics. The company offers all-round services such as coal mining, overburden removal, coal loading and unloading, road transport, and rail transportation coordination, making it a one-stop solution provider for its coal mining and logistics business.

The company's largest clients include subsidiaries of Coal India Limited (CIL), namely Western Coalfields Limited (WCL) and Northern Coalfields Limited (NCL). Caliber Mining & Logistics has been in the logistics business since Fiscal 2016 and extended its operations to iron ore clients in Fiscal 2023.

The company's coal mining and overburden removal operations are located across Maharashtra, Chhattisgarh and Madhya Pradesh, with its headquarters in Chandrapur, Maharashtra. As of October 31, 2024, the company had 3,742 employees, including nine retainer employees.

Caliber Mining & Logistics Financial Performance

• Revenue increased from ₹957.92 crore in FY24 to ₹1,435.57 crore in FY25, and further to ₹1,684.66 crore in FY26.
• Profit after tax rose from ₹95.90 crore in FY24 to ₹131.55 crore in FY25, and further to ₹157.90 crore in FY26.
• Total assets increased from ₹1,279.18 crore in FY24 to ₹1,404.09 crore in FY25 and rose significantly to ₹2,077.39 crore in FY26.
• Net worth grew from ₹295.93 crore in FY24 to ₹489.30 crore in FY25 and further to ₹647.54 crore in FY26.
• Total borrowings declined from ₹717.88 crore in FY24 to ₹649.27 crore in FY25, before rising sharply to ₹1,057.61 crore in FY26.

Source: RHP Caliber Mining & Logistics Limited

Caliber Mining & Logistics Key Strengths

1. Consistent revenue growth: Revenue increased from ₹957.92 crore in FY24 to ₹1,684.66 crore in FY26, growing across all three years.
2. Rising profitability: Profit after tax grew from ₹95.90 crore in FY24 to ₹157.90 crore in FY26.
3. Strengthening net worth: Net worth nearly doubled from ₹295.93 crore in FY24 to ₹647.54 crore in FY26.
4. Established client relationships: Long-standing engagements with Coal India subsidiaries WCL and NCL provide the company with steady, large-scale contract work.
5. Diversifying service base: Expansion into iron ore logistics since Fiscal 2023 reduces some reliance on coal-only operations.

Caliber Mining & Logistics Key Weaknesses

1. Sharp rise in FY26 borrowings: Total borrowings increased from ₹649.27 crore in FY25 to ₹1,057.61 crore in FY26, raising the company's leverage.
2. High client concentration: A large share of revenue depends on contracts with Coal India Limited subsidiaries, exposing the company to renewal and pricing risk tied to a small client base.
3. Elevated valuation multiples: At the upper price band, the issue is priced at a post-IPO P/E of 17.55 and a Price/Book ratio of 7.33.
4. Partial OFS component: ₹50 crore of the issue is an Offer for Sale, meaning that portion of the proceeds will go to selling shareholders rather than the company.

Caliber Mining & Logistics IPO Review: Our Take

Caliber Mining & Logistics operates in coal mining support services and logistics, with a contract-based business model and established relationships with Coal India subsidiaries. Between FY24 and FY26, the company reported growth in revenue, profit and net worth.

However, borrowings increased significantly in FY26, and the company depends on a limited number of major clients. Its performance may also be affected by changes in coal demand, regulations and sector conditions. Investors should review the valuation, subscription levels, GMP, financials and risk factors disclosed in the RHP before making an investment decision.

Investors should review the financials, peer valuations, and their own risk appetite before making a decision. This content is for informational purposes only and does not constitute investment advice. Please consult a SEBI-registered investment advisor before applying.

Caliber Mining & Logistics IPO Allotment Status

Allotment is tentatively expected around July 22, 2026, with listing tentatively scheduled for July 24, 2026 on BSE and NSE. Once finalised, check your status via:

• The IPO Ji app or website
• BSE or NSE websites

You'll need your PAN, application number or Demat account details.

Check the Caliber Mining & Logistics IPO allotment status on IPO Ji for quick updates.

How to Apply for Caliber Mining & Logistics IPO on IPO Ji

1. Open the IPO Ji App (Play Store/App Store) or visit ipoji.com.
2. Search for Caliber Mining & Logistics IPO.
3. Review the price band, lot size and dates.
4. Select your Demat account and enter the number of lots.
5. Submit using your registered UPI ID and approve the mandate before the deadline.

The application amount stays blocked in your account and is debited only on allotment. ASBA via net banking or a supported broker also works.

This article is for informational purposes only and should not be construed as investment advice. Investors are advised to read the RHP/DRHP of each company carefully and consult a registered financial advisor before applying to any IPO.