The initial public offering (IPO) of Ceigall India which launched on August 1, closed on August 5 and has been fully subscribed. The allotment will be finalised on August 6.
Here are the top 8 things to know ahead of Listing
What’s the IPO Price Band and How Much is the Company Raising From IPO?
Ceigall India has set the IPO price band at Rs 380 to Rs 401 per equity share, aiming to raise Rs 1,252.66 crore. Out of this, Rs 684.25 crore will come from issuing fresh shares, while ₹568.41 crore is reserved for the Offer for Sale (OFS) route.
What’s the Ceigall India IPO GMP Indicating ?
The grey market premium (GMP) for Ceigall India’s IPO has dropped to Rs 61 today, down Rs 14 from the weekend’s GMP of Rs 75. Market observers attribute the decline to the stock market crash on Friday.
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How Much Has the Ceigall India IPO subscribed ?
After two days of bidding, Ceigall India’s IPO was subscribed 1.63 times overall, with the retail portion of the book build issue oversubscribed 1.97 times and the NII portion filled 1.75 times. The QIB portion, however, was booked just 0.01 times.
By this morning on the third day of bidding, the overall subscription had increased to 1.23 times. The retail portion was subscribed 1.65 times, while the NII portion saw a significant rise to 2.85 times. The QIB portion remained minimally subscribed at 0.02 times.
What’s Ceigall India IPO objective?
The firm intends to use the net proceeds to finance Ceigall Infra Projects Private Limited, a subsidiary of the company. Additionally, the funds will be allocated for general corporate purposes, equipment acquisitions, and the full or partial repayment of certain company loans.
Who are the Lead Managers and Registrar?
The book running lead managers for the Ceigall India IPO are ICICI Securities, IIFL Securities, and JM Financial. Link Intime India Private Ltd has been appointed as the registrar for the public issue.
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When Will be the Ceigall India IPO allotment be finalised?
The allotment of shares for Ceigall India’s initial public offering (IPO) will be finalized on Tuesday, August 6, following robust investor interest. The infrastructure construction company is set to list its shares on both the BSE and NSE, with a tentative listing date of August 8.
What Do Analysts Recommend ?
Anand Rathi has issued a “subscribe” recommendation for Ceigall India’s IPO, highlighting the company’s robust order book across various sectors and regions, which positions it to pursue a wide range of project tenders and maximize business volume and profit margins.
The company’s P/E ratio stands at 22.9 times based on FY24 earnings, with a market capitalization of Rs 69,854 million following the equity issuance and a market cap-to-sales ratio of 2.3 times its FY24 earnings. Anand Rathi suggests a “Subscribe – Long Term” rating for the IPO.
