March 16 (Reuters) - Coal India's, opens new tab subsidiary, Central Mine Planning & Design Institute, opens new tab, has set a price ​band of 163 to 172 rupees per ‌share for its 18.38-billion-rupee ($198.68 million) initial public offering, according to a newspaper advertisement.

The company, which provides consultancy and support services for ​coal and mineral exploration, is seeking a ​valuation of $1.33 billion at the upper end ⁠of the price band.

The IPO, which will ​be open for subscription from March 20 to ​March 24, comes as global markets face pressure from geopolitical tensions linked to a conflict in the Middle East.

Weak sentiment ​has also affected India's primary market, with ​seven of the 11 IPOs launched so far in ‌2026 ⁠listing below their initial issue prices.

Bharat Coking Coal, opens new tab, another subsidiary of Coal India, nearly doubled on its debut in January, supported by the strong backing of ​its parent ​company and ⁠robust demand for coking coal from steelmakers.

Central Mine Planning's IPO is ​entirely an offer for sale, with Coal ​India ⁠planning to offload up to 107.1 million shares.

The company reported a profit of 4.25 billion rupees ⁠for ​a nine-month period ended December ​2025, up roughly 9% from year-ago period.