Business

 IIE DIGITAL DESK:Ceigall India’s initial public offering (IPO) commenced today, drawing significant interest from investors. The IPO, priced between ₹75-₹80 per share, aims to raise ₹300 crore to fund its expansion plans and working capital requirements.

The Grey Market Premium (GMP) for Ceigall India’s IPO stands at ₹15, indicating positive investor sentiment ahead of its listing. Analysts recommend a cautious approach, highlighting the company’s robust financials and growth potential in the infrastructure sector, yet advising investors to consider market volatility and sector-specific risks.

 On its first day, the IPO has already seen a strong subscription response, with the retail segment being oversubscribed within hours of opening. Institutional investors and high net-worth individuals have also shown keen interest, pushing the overall subscription rate to 1.5 times by midday.

Ceigall India, known for its expertise in road construction and infrastructure development, has reported consistent revenue growth over the past five years. The company’s strategic projects across India and its diversified portfolio make it a compelling choice for long-term investors.

Potential investors should weigh the IPO’s promising outlook against broader market conditions. While the positive GMP and strong subscription numbers are encouraging, thorough due diligence is recommended before making a decision. 

The IPO will remain open for subscription until August 4, 2024.

Ceigall India IPO subscription status started on Thursday August 1, 2024 and will close on August 5, 2024. Ceigall India IPO to raise around ₹1252.66 crores via IPO. The retail quota is 35%, QIB is 50% and NII is 15%. The price band is fixed at ₹380 to ₹401 per equity share.

The Ceigall India IPO minimum market lot is 37 shares with ₹14,837 application amount. The Ceigall India IPO is a Mainline IPO, and it is to be listed on BSE & NSE.

Ceigall India was incorporated in July 2002, and it is an infrastructure construction company with experience in undertaking specialized structural work such as elevated roads, flyovers, bridges, railway bridges, tunnels, highways, expressways, and runways It has a reputation for delivering quality projects. They are one of the fastest growing engineering, procurement, and construction (“EPC”) company in terms of three-year revenue CAGR as of Fiscal 2023, among the companies with a turnover of over ₹ 10,000 million in Fiscal 2023.