Caliber Mining And Logistics Limited
RHP · filed 14 Jul 2026
Caliber Mining And Logistics Limited is a coal mining and logistics company that extracts coal and removes overburden pursuant to mining contracts with its customers. The company's public offer consists of a fresh issue of 4,000 crore and an offer for sale of 500 crore, with the OFS constituting 11.11% of the post-issue paid-up capital. The company's financial trajectory is supported by a debt-to-equity ratio of 1.63, and it derives 90.11% of its revenue from operations from its top three customers, with its single largest customer, Northern Coalfields Limited, contributing 44.16% of revenue in Fiscal 2026. The most material risks include operational hazards such as accidents, flooding, and machinery failure, as well as the potential for production shutdowns due to diesel supply interruptions and the loss of key customers.
What stands out
Risk factor. Our mining operations are subject to operating risks such as accidents, flooding, machinery and equipment failures, and unavailability of diesel fuel and water, which could result in decreased production or increased cost of production.
Risk factor. We are not the owners of the mines and extract coal and remove overburden pursuant to mining contracts with our customers, making our operations subject to the operating conditions and events beyond our control.
Risk factor. Our business operations are subject to risks such as accidents due to human error, which can lead to injury or loss of human life and cause interruptions and disruptions to our mining and logistics operations.
Risk factor. A violation of health and safety laws or failure to comply with the requirements of the relevant health and safety authorities could lead to a temporary shutdown of all, or a portion of, our mines or processing facilities and the imposition of costly compliance procedures.
Primarily fresh capital. 89% of the offer is fresh issue, so most proceeds fund the company.
How the offer is structured
Fresh issue
₹4.00k Cr
New capital into the company
Offer for sale
₹500 Cr
Goes to selling shareholders
OFS share
11%
Debt repayment
₹2.08k Cr
From fresh proceeds
- Repayment/ prepayment, in full or part, of certain borrowings availed by the Company₹2.08k Cr
- Funding capital expenditure for purchase of commercial vehicles, plant and machinery₹1.67k Cr
- General corporate purposes
Promoters, litigation & related parties
Promoter (pre)
88.8%
Risks the company discloses
Our mining operations are subject to operating risks such as accidents, flooding, machinery and equipment failures, and unavailability of diesel fuel and water, which could result in decreased production or increased cost of production.(Operational)
We are not the owners of the mines and extract coal and remove overburden pursuant to mining contracts with our customers, making our operations subject to the operating conditions and events beyond our control.(Operational)
Our business operations are subject to risks such as accidents due to human error, which can lead to injury or loss of human life and cause interruptions and disruptions to our mining and logistics operations.(Operational)
A violation of health and safety laws or failure to comply with the requirements of the relevant health and safety authorities could lead to a temporary shutdown of all, or a portion of, our mines or processing facilities and the imposition of costly compliance procedures.(Operational)
Risks associated with our open cast mining operations include flooding of the open-pit, collapses of the open-pit wall, slope failure and operation of large equipment, which could increase operating costs and negatively affect our business.(Operational)
We require substantial amounts of diesel fuel for our coal mining activities and diesel fuel represents a significant portion of our operating cost; interruptions in diesel supply could result in production shutdowns and increased costs.(Operational)
We derive a significant portion (90.11% in Fiscal 2026) of our revenue from operations from our top three customers, with our single largest customer, Northern Coalfields Limited, contributing 44.16% of our revenue from operations in Fiscal 2026.(Customer Concentration)
The loss of any of our top 10 customers (in particular our top 3 customers) for any reason including due to loss of, or failure to renew existing arrangements; regulatory changes, disputes with a customer; adverse changes in the financial condition of our customers could have a material adverse effect on our business.(Customer Concentration)
How this document reads, dimension by dimension
Each bar is a fixed formula applied to the figures shown above, scored 0–100. This is a reading of what the company disclosed — not a recommendation to apply or avoid, not a price target, and not a prediction of listing performance. Dimensions that could not be extracted are excluded rather than assumed, so coverage varies between documents.