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Ceigall India IPO

  • Status: Closed
  • RHP:
  • ₹ 14,060 / 37 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    08 Aug 2024

  • Listing Price

    ₹413.00

  • Listing Change

    2.99%

  • Last Traded Price

    ₹365.10

IPO Details

  • Open Date

    01 Aug 2024

  • Close Date

    05 Aug 2024

  • IPO Price Range

    ₹ 380 to ₹401

  • IPO Size

    ₹ 1,252.66 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    08 Aug 2024

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IPO Timeline

Ceigall India IPO Subscription Status

Last Updated: 05 August 2024 6:30 PM by 5Paisa

Last Updated: 5th August 2024, 6:28 PM by 5paisa

Ceigall India is set to launch an IPO valued at ₹1,252.66 crores. This offering includes a fresh issue of 1.71 crore shares amounting to ₹684.25 crores, alongside an offer for sale of 1.42 crore shares totalling ₹568.41 crores.
The Ceigall India IPO will be open for subscription from August 1, 2024, to August 5, 2024. Allotment results are anticipated to be finalised on August 6, 2024, with the listing scheduled on the BSE and NSE on August 8, 2024.
The IPO's price band is set between ₹380 and ₹401 per share.
ICICI Securities Limited, IIFL Securities Ltd, and JM Financial Limited are the lead managers for the issue, while Link Intime India Private Ltd will serve as the registrar.

Objectives Of Ceigall India IPO

1. Acquisition of new equipment;
2. Repayment or prepayment, either partially or entirely, of specific borrowings taken by:
    a. The Company; and
    b. Its subsidiary, Ceigall Infra Projects Private Limited

Ceigall India IPO Size

Types Size (₹Cr)
Total IPO size ₹1,252.66
Offer for sale ₹568.41
Fresh issue ₹684.25

Ceigall India Lot IPO Size

Application Lots Shares Amount (₹)
Retail (Min) 1 37 ₹14,837
Retail (Max) 13 481 ₹192,881
S-HNI (Min) 14 518 ₹207,718
S-HNI (Max) 67 2,479 ₹994,079
B-HNI (Min) 68 2,516 ₹1,008,916

 

Ceigall India IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)
QIB 31.26 62,37,721 19,49,82,267 7,818.789
NII (HNI) 14.83 46,78,291 6,93,64,307 2,781.509
Retail 3.82 1,09,16,012 4,17,01,516 1,672.231
Total 14.01 2,18,87,120 30,67,00,696 12,298.698

 

Ceigall India IPO Anchor Allocation

Anchor Bid Date 31 July, 2024
Total no. of shares offered 9,356,581
Portion Size for Anchor Investors 375.20 Cr.
Lock in Period for 50% shares (30 days) 5 September, 2024
Lock in Period for rest of shares (90 days) 4 November, 2024

 

Established in 2002, Ceigall India Limited is a prominent infrastructure construction firm specializing in complex structural projects such as elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways, and runways.

As of July 2024, the company has successfully completed over 34 road and highway projects. This portfolio includes 16 EPC projects, one HAM project, five O&M projects, and 12 Item Rate Projects.
Currently, Ceigall India Limited is working on 18 projects, which consist of 13 EPC projects and five HAM projects. These ongoing projects cover a range of infrastructure, including elevated corridors, bridges, flyovers, rail over-bridges, tunnels, expressways, runways, metro systems, 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 firm is renowned for its expertise in constructing, developing, and executing major multi-lane highway projects and specialized structures across various Indian states, including Punjab, Haryana, Rajasthan, Uttar Pradesh, Himachal Pradesh, Jammu and Kashmir, Jharkhand, Delhi, Maharashtra, and Bihar.
Ceigall India Limited received the "Gold Award" at the National Highways Excellence Awards 2020 for the Khemkaran-Amritsar Project. Additionally, the company was honored with the "Special Award" at the National Highways Excellence Awards 2021 for the Ramdas Gurdaspur Project and the Kartarpur Sahib Project.
As of June 30, 2024, the company's order book stands at ₹94,708.42 million, with previous fiscal year figures of ₹92,257.78 million for 2024, ₹108,090.43 million for 2023, and ₹63,461.30 million for 2022.
Recently completed key projects include the widening of a road in Punjab, the construction of the Kartarpur Sahib Project, and the completion of an elevated corridor section for the Delhi-Saharanpur Project.


Peers

● Pnc Infratech Ltd        
● G R Infraprojects Limited    
● H.g. Infra Engineering Ltd    
● Knr Constructions Ltd.        
●  Cementation India Ltd.    
● J Kumar Infraprojects Limited

For More Information

Webstory on Ceigall India IPO

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY24 FY23 FY22
Revenue 3,066.19 2,087.04 1,146.50
EBITDA 517.66 295.63 185.92
PAT 304.91 167.70 126.43
Particulars (in Rs. Crores)  FY24  FY23 FY22
Total Assets 2592.19 1827.82 959.14
Share Capital 78.56 39.28 39.28
Total Borrowings 1,811.02 1,252.58 652.12
Particulars (in Rs. Crores) FY24 FY23 FY22
Net Cash Generated From / (used in) operating activities -210.83 -72.71 -134.59
Net Cash Generated From / (used in) investing activities -38.16 -133.79 -163.59
Net Cash Generated From / (used in) financing activities 274.92 325.98 309.61
Net Increase (Decrease) In Cash And Cash Equivalents 25.94 119.46 11.43


Strengths

1. Demonstrated project development, execution and operational capabilities.
2. A leading EPC company, exhibiting a remarkable 43.10% increase in revenue for 2024.
3. Boasting over two decades of expertise in specialized structural construction.
4. Successfully executed 34 projects, comprising 16 EPC and 12 Item Rate contracts.
5. Maintains a robust order book valued at ₹94,708.42 million as of June 2024.
6. Received the "Gold Award" for the Khemkaran-Amritsar Project in 2020.
7. Operates with an effective business model focused on high-quality construction and cost efficiency.
 

Risks

1. Errors in RoC filings could result in financial penalties.
2. Project delays may lead to contract cancellations and increased costs.
3. Performance guarantees totalling ₹5,416.56 million pose financial risks.
4. Changes in regulations and royalties can affect project expenses and profitability.
5. Past instances of non-compliance have resulted in penalties amounting to ₹1.28 million.
6. Significant working capital is required, with ₹5,304.70 million needed for 2024.
 

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FAQs

The IPO opens on August 1, 2024, and closes on August 5, 2024.
 

The size of Ceigall India IPO is ₹1,252.66 Cr
 

The IPO's price band is set between ₹380 and ₹401 per share.
 

To apply for Ceigall India IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Ceigall India IPO
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    

You will receive a mandate notification to block funds in your UPI app.

The share allotment date of Ceigall India IPO is 6th August 2024
 

The Ceigall India IPO will be listed on 8th August 2024.
 

ICICI Securities Limited, IIFL Securities Ltd, and JM Financial Limited are the book-running lead managers for the Ceigall India IPO.
 

Ceigall India plans to utilize the raised capital from the IPO for:

1. Acquisition of new equipment;
2. Repayment or prepayment, either partially or entirely, of specific borrowings taken by:
   a. The Company; and
   b. Its subsidiary, Ceigall Infra Projects Private Limited