Caliber Mining and Logistics Ltd. IPO

Overview of iron and steel industry
World steel overview
India is the second largest producer of steel in the world. World’s overall crude steel production in 2025 was ~1849 MT55 out of which 77% of the production is concentrated within 6 ... countries with China being the leader in crude steel production, producing ~52% of the overall production followed by India (~9%), Japan (~4%), United States (~4%) and Russia (~4%). India’s per capita steel consumption stood at 109 kg56 compared to world average of 209 kg in 2025. Indian steel industry The Indian iron and steel industry is a vital sector that plays a pivotal role in the country's industrial growth and economic development. With abundant iron ore reserves and a strong domestic demand driven by rapid urbanization and government initiatives, the sector has emerged as a cornerstone of India's economy. The industry's significance can be gauged from its contribution to the country's GDP, employment generation, and its role in shaping the nation's infrastructure. India is richly endowed with iron ore reserves, with the country ranking fourth in the world in terms of iron ore production. The country's iron ore (haematite) resources are estimated to be around 24,058 MT57. The domestic demand for steel in India is driven by the country's rapid urbanization and government initiatives aimed at developing the nation's infrastructure. The government's focus on developing roads, bridges, and other infrastructure projects has led to a significant increase in the demand for steel. The government's initiatives such as "Make in India" and "Housing for All" have further boosted the demand for steel, making it an essential component of the country's economic growth. Overview of India’s coal logistics industry Infrastructure is a vital cog in sustaining India’s economic growth trajectory. In recent years, the government has taken several steps to accelerate infrastructure development, with a focus on transportation, energy, smart cities, water, and social and digital infrastructure. The government has also made efforts to attract foreign investors through policy reforms. In Union Budget 2025-26, the government outlined capital expenditure of Rs 11.21 trillion, i.e. equivalent to 3.1% of the GDP, towards the sector which increased from Rs 11.11 trillion earmarked in Union Budget 2024-25 and Rs 10 trillion in Union Budget 2023-24. Within the infrastructure space, logistics are a vital component, playing a crucial role in the movement of goods and materials. The importance of logistics can be gauged from nearly 50% of the budgetary allocation for fiscal 2026 towards the Ministry of Road Transport and Highways (Rs 2.72 trillion) and the Minister of Railways (Rs 2.52 trillion). And for the Ministry of Housing and Urban Affairs, the Centre has been allocated Rs 0.38 trillion61. To be sure, India's logistics sector has been undergoing a transformative phase, driven by technological advancements, government initiatives, and increasing demands of a burgeoning consumer base. Consequently, the sector is projected to grow 8.8% annually to ~Rs 40.7 trillion by 2029 from ~Rs 26.7 trillion62 in 2024. In fact, through several initiatives, the government has targeted to raise the country’s ranking in the Logistics Performance Index63 to 25 from the current 38. As per analysis the total modal-wise freight movement in tonne-km, roads contributed 63% share of the movement, followed rail (25%), shipping (6%) and pipeline (6%)64. (A detailed analysis of each mode is provided below with focus on commodity transportation, specifically coal and iron ore.) Read more