Crawford Bayley & Co has advised Caliber Mining and Logistics on its initial public offering of equity shares aggregating to INR 450 crore, consisting of a fresh issue and an offer for sale by the promoter selling shareholders. Economic Laws Practice guided the book-running lead manager, DAM Capital Advisors, on this IPO.
Caliber Mining’s IPO is structured as a fresh issue of INR 400 crore and an offer for sale of INR 50 crore by the promoter Chadda family, with the price band set at INR 402–424 per share and a lot size of 35 shares.
The proceeds from the fresh issue will be used for repayment of borrowings, purchase of machinery and plant, and general corporate purposes.
Caliber Mining is a mining operator managing overburden removal, coal extraction and coal logistics together as an integrated services provider, based in Chandrapur, Maharashtra.
ELP’s team advising the issuer was led by partner Geeta Dhania, with assistance from principal associate Tripti Pandey, senior associate Vedaarth Uberoi, and associates Anusha Agrawal and Shefali Jain.
