Ceigall India IPO: Key Details to Know Before Applying

• Ceigall India IPO is a book-built issue of Rs 1,252.66 crores.
• This upcoming IPO bidding opens on August 1 and closes on August 5, 2024.
• Ceigall India's IPO price is set at Rs 380 - Rs 401 per share.
• The minimum investment amount required for retail investors is Rs 14,837.

Ceigall India IPO: Synopsis

Ceigall India is open for subscription from Thursday, August 1, 2024, and closing on Monday, August 5, 2024. The price band for this IPO is set to Rs 380 – Rs 401 per share.

Ceigall India is a 100% book-built public issue. The company is offering a fresh issue of 1.71 crore of equity shares amounting up to Rs 684.25 crore and an offer for sale of 1.42 crore of equity shares amounting up to Rs 568.41crore, this aggregates to total size of 3.12 crore of equity shares amounting up to Rs 1,252.66 crore.

The allotment for this new IPO is expected to be finalised on Tuesday, August 6, 2024. This IPO will be listed on the NSE and BSE exchanges on Thursday, August 8, 2024.

The IPO is managed by ICICI Securities Limited, Iifl Securities Ltd and Jm Financial Limited, which are the lead managers. The company has appointed Link Intime India Private Limited as the registrar for the issue.

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Ceigall India Limited: About the Company

Ceigall India Limited, founded in 2002, is an infrastructure construction company specialising in elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, and runways. As of July 2024, the company has completed over 34 road and highway projects, including 16 EPC, one HAM, five O&M, and 12 Item Rate projects.

The company currently has 18 ongoing projects, with 13 EPC and five HAM projects, encompassing elevated corridors, bridges, flyovers, rail over-bridges, tunnels, expressways, runways, metro projects, and multi-lane highways. It has completed 2,158.72 lane km of O&M projects and has 1,488.17 lane km of ongoing projects. Ceigall India Limited has received notable awards, including the "Gold Award" at the National Highways Excellence Awards in 2020 and the "Special Award" in 2021. As of March 31, 2024, the company employs 2,256 people.

Ceigall India IPO: Objectives

The company proposes to utilise the Net Proceeds towards funding the following objectives, collectively referred to as the "Objects," which include purchasing equipment and repaying or prepaying, in full or in part, certain borrowings incurred by both the company and its Subsidiary Ceigall Infra Projects Private Limited.

Ceigall India IPO: Other Important Details

Time-Table of Ceigall India IPO

Ceigall India IPO: Financial Metrics (Amt in Rs Crore)

The company's revenue for the year ended March 2024 was reported at Rs 3,066.19 crore, marking a 46.92% increase compared to March 2023. The profit after tax increased by 81.81% for the same period.

Minimum Investment: Lot Size Details

Promoters of Ceigall India Limited and Their Holdings

The promoters of the company are Ramneek Sehgal, Ramneek Sehgal and Sons HUF and RS Family Trust. The promoters collectively held 99.99% of the company's shares. However, post-IPO, the change in their shareholding has not yet been disclosed.

Ceigall India: Strength of Company

1. Ceigall India expertise in specialized structural projects, including elevated roads, flyovers, bridges, tunnels and many more.

2. Ceigall India reported that, as of March 31, 2024, it had 1,488.17 lane km of active projects and had completed 2,158.72 lane km of operations and maintenance projects.

3. The firm’s order book figures as of June 30, 2024, and for the fiscal years 2024, 2023, and 2022 were Rs 9,470.84 crores, Rs 9,225.78 crores, Rs 10,809.04 crores, and Rs 6,346.13 crores, respectively.

4. The company’s Net Profit increased by 81.81% for the year ended March 2024.

FAQs

1.  What are the core details available for Ceigall India's IPO?

Ceigall India IPO is a book-built issue of Rs 1,252.66 crore. This upcoming IPO offering a fresh issue of 1.71 crore equity shares and offer for sale of 1.42 crore of equity share. The allotment for this new IPO is expected to be finalised on Tuesday, August 6, 2024.

2.  How can I apply for the Ceigall India IPO?

The public subscription of this new IPO opens on August 1 and closes on August 5, 2024. Click here to initiate the application process.

3.  Who are the lead managers for the Ceigall India IPO?

ICICI Securities Limited, Iifl Securities Ltd and Jm Financial Limited were appointed as the book-running lead managers for the IPO.

4.  Who is appointed as the registrar for this IPO?

Link Intime India Private Limited has been appointed as the registrar for this public issue.

5.  How will the net proceeds from the IPO be utilised?

The company proposes to utilize the Net Proceeds towards funding the following objectives, collectively referred to as the "Objects," which include purchasing equipment and repaying or prepaying, in full or in part, certain borrowings incurred by both the company and its Subsidiary Ceigall Infra Projects Private Limited.

6.  How can I check the allotment status of the IPO?

Investors who applied for IPO can check the allotment status of Ceigall India Limited by visiting here, for further updates, follow Bigul. 

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