Ceigall India IPO opens for subscription on tomorrow (Thursday, August 1). Established in 2002, Ceigall India Ltd is a construction business that specialises in specialised structural projects, such as flyovers, bridges, elevated roadways, tunnels, highways, expressways, and runways. The company was founded in the railway industry. The business finished more than 34 road and highway projects by July 2024. Twelve item rate projects, five O&M projects, one HAM project, and project 16 EPC are among these projects.
Thirteen EPC projects and five HAM projects are among the company's eighteen active projects. These include multi-lane roads, elevated corridors, flyovers, expressways, tunnels, runways, and metro projects.
Ramneek Sehgal, Ramneek Sehgal and Sons HUF, and RS Family Trust are the company's promoters. As of the date of this Red Herring Prospectus, the firm's promoters held 134,144,000 equity shares in total, accounting for 85.37% of the equity share capital that the business had issued, paid for, and subscribed for.
The company's listed peers are: G R Infraprojects (P/E of 12.60), H.G. Infra Engineering (P/E of 20.43), KNR Constructions (P/E of 13.17), ITD Cementation India (P/E of 29.39), J Kumar Infraprojects (P/E of 19.68), and PNC Infratech (P/E of 14.75).
From ₹167.27 crore in the Fiscal 2023 to ₹304.31 crore in the Fiscal 2024, the company's earnings for the year increased significantly.
Here are the 10 key things to know about Ceigall India IPO:
Ceigall India IPO date: The issue opens for subscription on Thursday, August 1, and closes on Monday, August 5.
Ceigall India IPO price band: The issue's price band has been fixed in the range of ₹380 to ₹401 per equity share of face value of ₹5.
Ceigall India IPO lot size: The issue's lot size is 37 equity shares and in multiples of 37 equity shares thereafter.
Anchor investors: The allocation to anchor investors for Ceigall India IPO is scheduled to take place today (Wednesday, 31).
Ceigall India IPO details: The IPO consists of an offer-for-sale (OFS) of 1,41,74,840 equity shares by existing shareholders, including promoters, and a fresh issue of equity shares for ₹684.3 crore by the firm.
Ceigall India IPO objective: The firm plans to use the net proceeds to fund Ceigall Infra Projects Private Limited, the company's subsidiary, as well as general corporate purposes, equipment acquisitions, and the full or partial repayment or prepayment of certain loans taken out by the company.
Ceigall India IPO listing date and allotment details: The Ceigall India IPO basis for share allocation is tentatively scheduled to be finalised on Tuesday, August 6. Refunds will be initiated by the firm on Wednesday, August 7, and the shares will be paid to the allottees' demat accounts the same day that the refund is initiated. Ceigall India share price is likely to be listed on BSE and NSE on Thursday, August 8.
Lead Manager and Registrar of Ceigall India IPO: The book running lead managersof the Ceigall India IPO are ICICI Securities Ltd, IIFL Securities Ltd, and JM Financial Ltd., while Link Intime India Private Ltd is the registrar.
Ceigall India IPO reservation: The company has set aside 15% of its shares for non-institutional institutional investors (NII), 50% of its shares for qualified institutional buyers (QIB), and35% of the offer for retail investors. Under the employee reservation section, eligible employeescan receive a discount of ₹38 per equity share.
Ceigall India IPO GMP today: Ceigall India IPO GMP today or grey market premium is +70. This indicates Ceigall India share price were trading at a premium of ₹70 in the grey market on Tuesday, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Ceigall India share price was indicated at ₹471 apiece, which is 17.46% higher than the IPO price of ₹401.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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