Ceigall India share price listed at ₹413, a 3% premium on the BSE over the issue price of ₹401. On the NSE the listing gains were slightly higher at 4.5% as the Ceigall India share price listed at ₹419.
Ceigall India IPO had opened for subscription on 1 August, 2024 and ended on August 5, 2024.
The street was expecting sharper gains as indicated by the subscription numbers and the Grey Market premium or the GMP.
The Ceigall India Limited's initial public offering was subscribed 13.75 times on the last day of bidding. According to BSE, the offering attracted bids of 30,67,62,708 shares against the 2,23,13,663 equity shares that were offered, with a price range of ₹380–401.
The Grey Market premium for Ceigall India or GMP stood at +53 on the last day of subscription. This indicates Ceigall India share price were trading at a premium of ₹53 in the grey market, 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 ₹454 apiece, which was 13.22% higher than the IPO price of ₹401 on Day3.
Nevertheless the GMP had been regularly declining over the previous ten sessions and had slipped to just +17.5 today, which meant that market was expectations had come down and the Ceigall India share price listed at similar level
Ceigall India IPO was a book built issue of ₹1,252.66 crores. The issue was a combination of fresh issue of shares as well as an Offer for sale. Ceigall India IPO was a fresh issue of 1.71 crore shares aggregating to ₹684.25 crores while the offer for sale of 1.42 crore shares aggregating to ₹568.41 crores.
Ceigall India had planned to utilize the Net Proceeds from the IPO towards the objectives of Purchase of equipment, Repayment or prepayment, in full or in part, of certain borrowings availed by the company or its subsidiary, Ceigall Infra Projects Private Limited.
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