Ceigall India IPO will stop taking bids from August 05 for its issue subscription. The company has received a bid of 1.26 times as of its second day, August 02. The company opened its issue to investors on August 01. 

GMP

The company’s shares were attracting a premium of around 4% to the issue price. The grey market is an unofficial place where shares trade illegally ahead of listing. 

Issue Size 

The company wants to raise a total of Rs 1,252.66 crore through a combination of fresh shares and an offer for sale. 

Price Band

Ceigall India kept the IPO price band in a range of Rs 380 to Rs 401 per equity share. 

Allotment and Listing

The company’s shares allotment is expected to be finalised by August 06. The listing on BSE and NSE will take place on August 08, as per the tentative schedule. 

Employee Reservation

The company has kept aside 55,096 shares for the employees, which are available to them at a discount of Rs 38 to the issue price. 

About Ceigall India

Ceigall India is an infrastructure construction company known for its expertise in executing complex structural projects. The company specializes in constructing elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways and runways. 

Expert’s take 

“We think the company’s impressive revenue growth, driven by a strategic focus on specialized structures and road projects, underscores its technical expertise and market demand for its services. With a diverse order book spanning various regions and project types, Ceigall is well-positioned for sustained revenue visibility and profitability. While company’s Book to Bill, which offers revenue visibility stands at over 3 years which is at the higher end compared to industry peers. Given its efficient business model, emphasizing careful project selection and cost optimization, has consistently maximized profit margins and operational efficiency. Hence, we recommend investors to “Subscribe” the Ceigall India for a long-term perspective,” said Rajan Shinde, Research Analyst at Mehta Equities.

BRLMs and Registrar

ICICI Securities, IIFL Securities, and JM Financial are the lead book runners of the Ceigall India IPO, while Link Intime India is the registrar for the issue.