Free Equity Delivery
Flat ₹10 per Trade in Intraday & F&O
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 ₹401.00 per share . The lot size for an application is 37. The minimum amount of investment required by an retail is ₹14,060 (37 shares). 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 Date | August 1, 2024 to August 5, 2024 |
| Listing Date | August 8, 2024 |
| Face Value | ₹5 per share |
| Issue Price Band | ₹380 to ₹401 per share |
| Issue Price Final | ₹401 per share |
| Lot Size | 37 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 3,12,43,701 shares (aggregating up to ₹1,252.66 Cr) |
| Fresh Issue | 1,70,68,861 shares (aggregating up to ₹684.35 Cr) |
| Offer for Sale | 1,41,74,840 shares of ₹5 (aggregating up to ₹568.32 Cr) |
| Employee Discount | ₹38.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 15,71,36,000 shares |
| Share Holding Post Issue | 17,41,99,640 shares |
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, 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 | Maximum 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%) |
| 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 |
Ceigall India IPO raises ₹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 | 93,56,581 |
| Anchor Portion Size (In Cr.) | 375.20 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 4, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | November 3, 2024 |
Ceigall India IPO opens on August 1, 2024, and closes on August 5, 2024.
| IPO Open Date | Thu, Aug 1, 2024 |
| IPO Close Date | Mon, Aug 5, 2024 |
| Tentative Allotment | Tue, Aug 6, 2024 |
| Initiation of Refunds | Wed, Aug 7, 2024 |
| Credit of Shares to Demat | Wed, Aug 7, 2024 |
| Tentative Listing Date | Thu, Aug 8, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Aug 5, 2024 |
Investors can bid for a minimum of 37 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 |
| 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 market capitalization of Ceigall India IPO is ₹6985.41 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| 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 Rs | 19.40 | 17.50 |
| 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...
| Listing Date | August 8, 2024 |
| BSE Script Code | 544223 |
| NSE Symbol | CEIGALL |
| ISIN | INE0AG901020 |
| Final Issue Price | ₹401 per share |
| BSE Listing Group | B |
Ceigall India Ltd.
A-898,
Tagore Nagar
Ludhiana - 141 001
Ludhiana, Punjab
Phone: +91 161 4623666
Email: secretarial@ceigall.com
Website: https://www.ceigall.com/
MUFG Intime India Pvt.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 3,12,43,701 equity shares of the face value of ₹5 aggregating up to ₹1,252.66 Crores. The issue is priced at ₹401 per share. The minimum order quantity is 37.
The IPO opens on August 1, 2024, and closes on August 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 August 1, 2024 and closes on August 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 Wednesday, August 7, 2024. Check the Ceigall India IPO allotment status.
The Ceigall India IPO listing date is on Thursday, August 8, 2024.
Useful Articles
RHP