 "Ceigall India IPO opens tomorrow; GMP, price band, key details to know")
Ceigall India IPO GMP: The unlisted shares of infrastructure construction company, Ceigall India Limited, are commanding a strong premium in the grey markets ahead of its public issue, which is scheduled to open tomorrow for public subscription. Ceigall India's shares are trading at a premium of Rs 90 or 22 per cent in the grey markets on Wednesday. The three-day subscription window of Ceigall India IPO will close on Monday, August 5, 2024.
Founded in 2002, Ceigall India Limited is an infrastructure construction company with expertise in specialised structural projects, including elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways, and runways. The company intends to raise Rs 1,252.66 crore from the public issue.
Ceigall India IPO details - lot size, price band
The Ceigall India IPO comprises a fresh issue of 17,063,640 shares worth Rs 684.25 crore and an offer for sale of 14,174,840 shares with a face value of Rs 5 each, aggregating up to Rs 568.41 crore. The public issue will be available at a price band of Rs 380 - 401 per share and a lot size of 37 shares. Investors can bid for a minimum of 37 shares of Ceigall India, and in multiples thereof. The minimum amount required by retail investors is Rs 14,837.
Ceigall India IPO allotment, listing date
The basis of allotment for Ceigall India IPO shares is scheduled for Tuesday, August 6, 2024, and the shares are likely to get credited into the demat account on Tuesday, August 6, 2024. The expected listing date of Ceigall India shares is Thursday, August 8, 2024. The company's shares will list on both BSE and NSE.
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Ceigall India IPO objective
Ceigall India intends to use the net proceeds from the public issue to purchase equipment and to make repayment/prepayment, in full or in part, of certain borrowings availed by the company and its subsidiary, Ceigall Infra Projects Private Limited.
Ceigall India IPO registrar, promoters details
Link Intime India Private Ltd is the registrar for Ceigall India, while ICICI Securities, JM Financial, and IIFL Securities are the book running lead managers of the public issue. The promoters of Ceigall India include Ramneek Sehgal, Ramneek Sehgal and Sons HUF, and RS Family Trust.
Ceigall India financial details
Ceigall India's revenue from operations was reported at Rs 3,066.19 crore in the year ended March 31, 2024, a steady rise from Rs 2,087.04 crore reported in the previous fiscal year or FY23. The company's profit after tax (PAT) in FY24 stood at Rs 304.91 crore, nearly doubled from Rs 167.70 crore reported in FY23. The market capitalisation of Ceigall India IPO stands at Rs 6985.41 crore.