Economic Laws Practice (ELP) assisted Caliber Mining and Logistics Limited in filing a draft red herring prospectus in the lead up to its ₹600 crore Initial Public Offering (IPO).

Economic Laws Practice (ELP) advised the book running lead manager, DAM Capital Advisors Limited, in connection with the filing.

The transaction team was led by Geeta Dhania (Partner) and Prashaant Vikram Rajput (Partner), and assisted by Tripti Pandey (Principal Associate), Vedaarth Uberoi, Anusha Agrawal, Shefali Jain and Shreya Prakash (Associates).

The company plans to raise an amount aggregating up to ₹500 crore via fresh issue and sale of up to 8,924,274 equity shares via offer for sale of equity shares aggregating up to ₹100 crore via offer for sale through an initial public offering. Thus aggregating to ₹ 600 crore. .

Company promoters Mohit Satishkumar Chadda is selling shares worth ₹25 crore, Anuj Krishanlal Chadda is selling worth ₹25 crore, Manish Krishanlal Chadda is selling shares worth ₹25 crore, and Rahul Roshanlal Chadda is also selling ₹25 crore worth of shares through the public issue.

The proceeds from the fresh issue will be utilized towards debt repayment and funding capital expenditure for the acquisition of machinery and equipment.

Caliber Mining and Logistics Limited is a prominent player in the coal mining and logistics sector, offering a comprehensive range of services including coal extraction, overburden removal, coal loading and unloading, road transportation, and rail coordination. The company has established a strong foothold in the Indian market, catering to major coal mining companies and contributing significantly to the country's energy sector.

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