Ceigall India Limited, a leading infrastructure construction company, has announced its Initial Public Offering (IPO), scheduled from August 1 to August 5, 2024. The IPO is expected to raise between ₹1,222.89 crore and ₹1,252.66 crore, with a price band set between ₹380 and ₹401 per share. The offering includes a fresh issue of shares worth ₹684.25 crore and an offer for sale amounting to ₹568.41 crore (IPO Central) (5paisa).
Company Overview Ceigall India specializes in constructing complex structures such as elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways, and runways. With over 20 years of experience, the company has a significant presence across ten Indian states, including Punjab, Haryana, Rajasthan, and Maharashtra. As of July 2024, the company has completed over 34 projects and is currently working on 18 more (IPO Central) (TopStockBroker).
Financial Performance Ceigall India's financial performance has been robust. For the fiscal year ending March 31, 2024, the company reported revenues of ₹3,066.19 crore, up from ₹2,087.04 crore in 2023. Net profit also increased significantly, from ₹167.70 crore in 2023 to ₹304.91 crore in 2024. This growth highlights the company's efficient business model and strong execution capabilities (TopStockBroker).
IPO Objectives The proceeds from the IPO will be used for:
- Purchasing new equipment.
- Repaying or prepaying certain borrowings of the company and its subsidiary, Ceigall Infra Projects Private Limited (IPO Central) (TopStockBroker).
Key Dates
- IPO Opening Date: August 1, 2024
- IPO Closing Date: August 5, 2024
- Allotment Date: August 6, 2024
- Listing Date: August 8, 2024
Lot Size and Investment The minimum investment for retail investors is set at ₹14,837 for one lot of 37 shares, with a maximum investment of ₹192,881 for 13 lots (5paisa).
Lead Managers and Registrars ICICI Securities Limited, IIFL Securities Ltd, and JM Financial Limited are the lead managers for the IPO, while Link Intime India Private Ltd will serve as the registrar (5paisa) (TopStockBroker).
Ceigall India's strong order book, diversified project portfolio, and strategic expansion across key states position it well for future growth. The IPO presents a valuable opportunity for investors looking to invest in a well-established player in the infrastructure sector.