Bookbuilding IPO | ₹1,253 Cr | Listed at BSE, NSE | Thu, Aug 1, 2024 - Mon, Aug 5, 2024
Ceigall India IPO is a book build issue of ₹1,252.66 crores. The issue is a combination of fresh issue of 1.71 crore shares aggregating to ₹684.35 crores and offer for sale of 1.42 crore shares aggregating to ₹568.32 crores.
Ceigall India IPO bidding started from Aug 1, 2024 and ended on Aug 5, 2024. The allotment for Ceigall India IPO was finalized on Aug 6, 2024. The shares got listed on BSE, NSE on Aug 8, 2024.
Ceigall India IPO price band is set at ₹401 per share. The lot size for an application is 37. The minimum amount of investment required by an retail is ₹14,837 (37 shares) (based on upper price). The lot size investment for sNII is 14 lots (518 shares), amounting to ₹2,07,718, and for bNII, it is 68 lots (2,516 shares), amounting to ₹10,08,916.
The issue includes a reservation of up to 55,096 shares for employees offered at a discount of ₹38.00 to the issue price.
ICICI Securities Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Ceigall India IPO RHP for detailed Information.
IPO Open
Thu, Aug 1, 2024
IPO Close
Mon, Aug 5, 2024
Issue Price
₹401 per share
Market Cap (Pre-IPO)
₹6,985.41 Cr
| IPO Date | 1 to 5 Aug, 2024 |
| Listed on | Thu, Aug 8, 2024 |
| Face Value | ₹5 per share |
| Price Band | ₹380 to ₹401 |
| Issue Price | ₹401 per share |
| Lot Size | 37 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹38.00 |
| Total Issue Size | 3,12,43,701 shares (agg. up to ₹1,253 Cr) |
| Fresh Issue | 1,70,68,861 shares (agg. up to ₹684 Cr) |
| Offer for Sale | 1,41,74,840 shares of ₹5 (agg. up to ₹568 Cr) |
| Share Holding Pre Issue | 15,71,36,000 shares |
| Share Holding Post Issue | 17,41,99,640 shares |
| BSE Script Code / NSE Symbol | 544223 / CEIGALL |
| ISIN | INE0AG901020 |
Ceigall India IPO offers total 3,12,43,701 shares. Out of which 1,55,94,302 (49.91%) allocated to QIB, 62,37,721 (19.96%) allocated to QIB (Ex- Anchor), 46,78,291 (14.97%) allocated to NII 1,09,16,012 (34.94%) allocated to RII and 93,56,581 (29.95%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 1,55,94,302 (49.91%) | NA |
| − Anchor Investor Shares Offered | 93,56,581 (29.95%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 62,37,721 (19.96%) | NA |
| NII (HNI) Shares Offered | 46,78,291 (14.97%) | NA |
| − bNII > ₹10L | 31,18,861 (9.98%) | 6,020 |
| − sNII < ₹10L | 15,59,430 (4.99%) | 3,010 |
| Retail Shares Offered | 1,09,16,012 (34.94%) | 2,95,027 |
| Employee Shares Offered | 55,096 (0.18%) | NA |
| Total Shares Offered | 3,12,43,701 (100.00%) |
Investors can bid for a minimum of 37 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 37 | ₹14,837 |
| Retail (Max) | 13 | 481 | ₹1,92,881 |
| S-HNI (Min) | 14 | 518 | ₹2,07,718 |
| S-HNI (Max) | 67 | 2,479 | ₹9,94,079 |
| B-HNI (Min) | 68 | 2,516 | ₹10,08,916 |
Ceigall India IPO raises ₹375.20 crore from anchor investors. Ceigall India IPO Anchor bid date is July 31, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Jul 31, 2024 |
| Shares Offered | 93,56,581 |
| Anchor Portion (₹ Cr.) | 375.20 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Sep 4, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Nov 3, 2024 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
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
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 2,592.19 | 1,827.82 | 959.14 |
| Total Income | 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 Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Purchase of equipment | 99.79 |
| 2 | Repayment/ prepayment, in full or in part, of certain borrowings availed by our company | 384.57 |
| 3 | Repayment/ prepayment, in full or in part, of certain borrowings availed by our subsidiary - Ceigall Infra Projects Private Limited | 28.83 |
| 4 | General corporate purposes | 139.12 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 33.57% |
| ROCE | 31.98% |
| Debt/Equity | 1.17 |
| RoNW | 33.57% |
| PAT Margin | 10.05% |
| Price to Book Value | 6.95 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 19.40 | 17.50 |
| P/E (x) | 20.67 | 22.91 |
| Promoter Holding | 99.99% | 82.06% |
| Market Cap | ₹6,985.41 Cr. |
The Ceigall India IPO is subscribed 14.01 times on August 5, 2024 6:19:07 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 31.26 | 62,37,721 | 19,49,82,267 |
| NII | 14.83 | 46,78,291 | 6,93,64,307 |
| bNII (bids above ₹10L) | 16.28 | 31,18,861 | 5,07,76,728 |
| sNII (bids below ₹10L) | 11.92 | 15,59,430 | 1,85,87,579 |
| Retail | 3.82 | 1,09,16,012 | 4,17,01,516 |
| Employee | 11.84 | 55,096 | 6,52,606 |
| Total | 14.01 | 2,18,87,120 | 30,67,00,696 |
Total Application : 11,28,173
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs including underwriting commission, brokerage and selling commission, as applicable | 36.95 |
| 2 | Selling commission and processing fees for SCSBs (1)(2) and Bidding Charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 3.91 |
| 3 | Fees payable to the Registrar to the Offer | 0.20 |
| 4 | Listing fees, SEBI and Stock Exchanges filing fees, book building software fees and other regulatory expenses including fees payable to depositories and fee payable to Stock Exchanges towards PAN validation charges | 5.13 |
| 5 | Printing and stationery expenses | 1.84 |
| 6 | Advertising and marketing expenses | 4.25 |
| 7 | Fees payable to the legal counsels to the Offer | 3.96 |
| 8 | Fees payable to Statutory Auditor | 0.18 |
| 9 | Fees payable to the industry service provider | 0.20 |
| 10 | Miscellaneous | 1.97 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹401.00 | ₹401.00 |
| Open | ₹413.00 | ₹419.00 |
| Low | ₹380.10 | ₹383.25 |
| High | ₹425.00 | ₹424.80 |
| Last Trade | ₹386.05 | ₹386.75 |
Lead Manager Reports
Ceigall India IPO is a main-board IPO of 3,12,43,701 equity shares of the face value of ₹5 aggregating up to ₹1,253 Crores. The issue is priced at ₹401 per share. The minimum order quantity is 37.
The IPO opens on Thu, Aug 1, 2024, and closes on Mon, Aug 5, 2024.
MUFG Intime India Pvt.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 Thu, Aug 1, 2024 and closes on Mon, Aug 5, 2024.
Ceigall India IPO lot size is 37, and the minimum amount required for application is ₹14,837.
You can apply in Ceigall India IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Wed, Aug 7, 2024. Check the Ceigall India IPO allotment status.
The Ceigall India IPO listing date is on Thu, Aug 8, 2024.
