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Caliber Mining & Logistics Limited (formerly Caliber Mercantile), incorporated 2014, is an integrated coal mining and logistics services provider offering coal extraction, overburden removal, transportation, rake loading, rail coordination and coal trading. Primarily serves Coal India subsidiaries (Western Coalfields, Northern Coalfields) with additional customers in the iron ore segment. Operations span Maharashtra, Chhattisgarh and Madhya Pradesh, supported by a fleet of 1,473 mining equipment and logistics vehicles. Order book ~₹5,085 Cr per CRISIL. Revenue ₹1,684.66 Cr (FY26) vs ₹1,435.57 Cr (FY25); PAT ₹157.90 Cr vs ₹131.55 Cr. Promoters: Mohit Satishkumar Chadda, Anuj Krishanlal Chadda, Manish Krishanlal Chadda, Rahul Roshanlal Chadda, Priya Anuj Chadda (94.91% pre-issue). Issue: fresh ₹400 Cr + OFS ₹50 Cr. Debt-to-equity 2.46 (FY24) - notable leverage risk. Proceeds: ₹175 Cr debt repayment, ₹200 Cr new mining machinery, rest general corporate. Final subscription 154.66x overall (Retail 43.40x, NII 281.99x, QIB 253.88x). Listed Jul 24, 2026 at Rs 500.25, up 17.98%.