New Delhi

Shares of Caliber Mining And Logistics Ltd on Friday listed at a premium of nearly 19 per cent against the issue price of Rs 424.

The stock started trading at Rs 504, up 18.86 per cent from the issue price on the BSE. Later, it surged 19.75 per cent to Rs 507.75.

On the NSE, the stock listed at Rs 500.25, registering a jump of 17.98 per cent.

The company commanded a market valuation of Rs 3,178.90 crore.

The initial public offer of Caliber Mining and Logistics Ltd received a massive 146.64 times subscription on the closing day of bidding on Tuesday.

The IPO had a fresh issue of equity shares worth Rs 400 crore and an offer-for-sale (OFS) of shares worth Rs 50 crore by promoters.

The issue had been priced in the range of Rs 402-424 per share.

Incorporated in 2014, Caliber Mining and Logistics provides integrated mining services, including overburden removal, coal extraction and coal logistics. The company operates across Maharashtra, Madhya Pradesh and Chhattisgarh.

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It does not own any mines but offers end-to-end mining and logistics services to its customers.