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Ceigall India IPO is a book built issue of Rs 1,252.66 crores. The issue is a combination of fresh issue of 1.71 crore shares aggregating to Rs 684.25 crores and offer for sale of 1.42 crore shares aggregating to Rs 568.41 crores.
Ceigall India IPO bidding started from August 1, 2024 and ended on August 5, 2024. The allotment for Ceigall India IPO was finalized on Tuesday, August 6, 2024. The shares got listed on BSE, NSE on August 8, 2024.
Ceigall India IPO price band is set at ₹380 to ₹401 per share. The minimum lot size for an application is 37 Shares. The minimum amount of investment required by retail investors is ₹14,837. The minimum lot size investment for sNII is 14 lots (518 shares), amounting to ₹207,718, and for bNII, it is 68 lots (2,516 shares), amounting to ₹1,008,916.
The issue includes a reservation of up to 55,096 shares for employees offered at a discount of Rs 38 to the issue price.
ICICI Securities Limited, Iifl Securities Ltd and Jm Financial Limited are the book running lead managers of the Ceigall India IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Ceigall India IPO RHP for detailed information.
| IPO Date | August 1, 2024 to August 5, 2024 |
| Listing Date | August 8, 2024 |
| Face Value | ₹5 per share |
| Price Band | ₹380 to ₹401 per share |
| Lot Size | 37 Shares |
| Total Issue Size | 31,238,480 shares (aggregating up to ₹1,252.66 Cr) |
| Fresh Issue | 17,063,640 shares (aggregating up to ₹684.25 Cr) |
| Offer for Sale | 14,174,840 shares of ₹5 (aggregating up to ₹568.41 Cr) |
| Employee Discount | Rs 38 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 157,136,000 |
| Share holding post issue | 174,199,640 |
Ceigall India IPO offers 31,243,701 shares. 6,237,721 (19.96%) to QIB, 4,678,291 (14.97%) to NII, 10,916,012 (34.94%) to RII, 55,096 (0.18%) to employees and 9,356,581 (29.95%) to Anchor investors. 295,027 RIIs will receive minimum 37 shares and 3,010 (sNII) and 6,020 (bNII) will receive minimum 518 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 9,356,581 (29.95%) | NA |
| QIB Shares Offered | 6,237,721 (19.96%) | NA |
| NII (HNI) Shares Offered | 4,678,291 (14.97%) | |
| bNII > ₹10L | 3,118,861 (9.98%) | 6,020 |
| sNII < ₹10L | 1,559,430 (4.99%) | 3,010 |
| Retail Shares Offered | 10,916,012 (34.94%) | 295,027 |
| Employee Shares Offered | 55,096 (0.18%) | NA |
| Total Shares Offered | 31,243,701 (100%) |
Ceigall India IPO raises Rs 375.20 crore from anchor investors. Ceigall India IPO Anchor bid date is July 31, 2024. Ceigall India IPO Anchor Investors list
| Bid Date | July 31, 2024 |
| Shares Offered | 9,356,581 |
| Anchor Portion Size (In Cr.) | 375.20 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 5, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | November 4, 2024 |
Ceigall India IPO opens on August 1, 2024, and closes on August 5, 2024.
| IPO Open Date | Thursday, August 1, 2024 |
| IPO Close Date | Monday, August 5, 2024 |
| Basis of Allotment | Tuesday, August 6, 2024 |
| Initiation of Refunds | Wednesday, August 7, 2024 |
| Credit of Shares to Demat | Wednesday, August 7, 2024 |
| Listing Date | Thursday, August 8, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 5, 2024 |
Investors can bid for a minimum of 37 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 37 | ₹14,837 |
| Retail (Max) | 13 | 481 | ₹192,881 |
| S-HNI (Min) | 14 | 518 | ₹207,718 |
| S-HNI (Max) | 67 | 2,479 | ₹994,079 |
| B-HNI (Min) | 68 | 2,516 | ₹1,008,916 |
| Lot Size Calculator | |||
The promoters of the Company, are Ramneek Sehgal, Ramneek Sehgal and Sons HUF and RS Family Trust.
| Share Holding Pre Issue | 99.99% |
| Share Holding Post Issue | 82.06% |
Founded in 2002, Ceigall India Limited is an infrastructure construction company with expertise in specialized structural projects, including elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways, and runways.
By July 2024, the company completed over 34 road and highway projects. These projects include project 16 EPC, one HAM project, five O&M projects, and 12 Item Rate Projects.
The company has 18 ongoing projects, including 13 EPC projects and five HAM projects. These involve elevated corridors, bridges, flyovers, rail over-bridges, tunnels, expressways, runways, metro projects, and multi-lane highways.
As of March 31, 2024, the company has 1,488.17 lane kilometers of ongoing projects and has completed 2,158.72 lane kilometers of O&M projects.
The company specializes in the construction, development, and execution of major multi-lane highway projects with specialized structures in various states of India, including Punjab, Haryana, Rajasthan, Uttar Pradesh, Himachal Pradesh, Jammu and Kashmir, Jharkhand, Delhi, Maharashtra, and Bihar.
Ceigall India Limited won the "Gold Award" at the National Highways Excellence Award, 2020 for the Khemkaran-Amritsar Project. They also received the "Special Award" at the National Highways Excellence Awards, 2021 for the Ramdas Gurdaspur Project, including the Kartarpur Sahib Project.
The company's Order Book as of June 30, 2024, and for the fiscal years 2024, 2023, and 2022, were ₹94,708.42 million, ₹92,257.78 million, ₹108,090.43 million, and ₹63,461.30 million, respectively.
The company has recently completed several key projects, including widening a road in Punjab, constructing the Kartarpur-Sahib Project, and finishing an elevated corridor portion for the Delhi-Saharanpur Project.
As of March 31, 2024, the company has 2,256 permanent employees
Ceigall India Limited's revenue increased by 46.92% and profit after tax (PAT) rose by 81.81% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 2,592.19 | 1,827.82 | 959.14 |
| Revenue | 3,066.19 | 2,087.04 | 1,146.50 |
| Profit After Tax | 304.91 | 167.70 | 126.43 |
| Net Worth | 906.41 | 593.06 | 431.25 |
| Total Borrowing | 1,811.02 | 1,252.58 | 652.12 |
| Amount in ₹ Crore | |||
The market capitalization of Ceigall India IPO is Rs 6985.41 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 33.57% |
| ROCE | 31.98% |
| Debt/Equity | 1.17 |
| RoNW | 33.57% |
| P/BV | 6.95 |
| PAT Margin (%) | 10.05 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 19.4 | 17.5 |
| P/E (x) | 20.67 | 22.91 |
The company proposes to utilize the Net Proceeds towards funding the following objects (collectively, the "Objects"):
1. Purchase of equipment;
2. Repayment/ prepayment, in full or in part, of certain borrowings availed by:
[Dilip Davda] The company is an EPC infrastructural contractor and has recently tied up with Delhi Metro for rail infra projects. It has created a niche place for NHAI projects. It is operating in a highly competitive and fragmented segment. Based on FY24 earnings, the issue appears aggressively priced. However, considering inflow of orders and order book on hand, it is a pure long term play. Investors may park moderate funds for the long term. Read detail review...
The Ceigall India IPO is subscribed 14.01 times on August 5, 2024 6:19:07 PM. The public issue subscribed 3.82 times in the retail category, 31.26 times in the QIB category, and 14.83 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 31.26 |
| NII | 14.83 |
| bNII (bids above ₹10L) | 16.28 |
| sNII (bids below ₹10L) | 11.92 |
| Retail | 3.82 |
| Employee | 11.84 |
| Total | 14.01 |
Total Application : 1,128,173 (41.44 times)
| Listing Date | August 8, 2024 |
| BSE Script Code | 544223 |
| NSE Symbol | CEIGALL |
| ISIN | INE0AG901020 |
| Final Issue Price | ₹401 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹401.00 |
| ₹413.00 |
| ₹380.10 |
| ₹425.00 |
| ₹386.05 |
| NSE |
|---|
| ₹401.00 |
| ₹419.00 |
| ₹383.25 |
| ₹424.80 |
| ₹386.75 |
Ceigall India Limited
A-898,
Tagore Nagar
Ludhiana - 141 001
Phone: +91 161 4623666
Email: secretarial@ceigall.com
Website: https://www.ceigall.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: ceigall.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Ceigall India IPO is a main-board IPO of 31,238,480 equity shares of the face value of ₹5 aggregating up to ₹1,252.66 Crores. The issue is priced at ₹380 to ₹401 per share. The minimum order quantity is 37 Shares.
The IPO opens on August 1, 2024, and closes on August 5, 2024.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Ceigall India IPO using UPI as a payment gateway. Zerodha customers can apply in Ceigall India IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Ceigall India IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Ceigall India IPO opens on August 1, 2024 and closes on August 5, 2024.
Ceigall India IPO lot size is 37 Shares, and the minimum amount required is ₹14,837.
You can apply in Ceigall India IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Ceigall India IPO will be done on Tuesday, August 6, 2024, and the allotted shares will be credited to your demat account by Wednesday, August 7, 2024. Check the Ceigall India IPO allotment status.
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