Caliber Mining & Logistics kicked off trading on July 24 with an opening around 18% higher than the ₹424 issue price, listing at ₹504 on the BSE and about ₹500.25 on the NSE. The IPO, aimed at ₹450 crore with a fresh issue and an offer-for-sale, drew strong demand, with overall subscriptions of about 146.64 times and a heavy skew to non-institutional buyers and QIBs. NIIs were subscribed 267.36 times, QIBs 240.71 times, and retail about 41.15 times, underscoring robust investor interest ahead of the listing. Grey-market activity had suggested a significant premium, reinforcing expectations for a strong debut, which translated into a listing premium of roughly 18%. Analysts and market observers noted the sharp start while cautioning that near-term profit-booking could occur and advised investors to consider holding with stop-loss strategies. The listing also carried a substantial market cap and indicated healthy appetite for coal logistics plays, though some fee-based or liquidity concerns could temper gains in the near term.