Ceigall India Limited IPO Opens On August 01. Check IPO Details Issue Date Price

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Ceigall India Limited IPO Opens On August 01. Check IPO Details Issue Date Price

July 31, 2024
Ceigall India Limited IPO Opens On August 01. Check IPO Details Issue Date Price

Ceigall India Limited is coming out with an initial public offer to raise Rs. 1252.66 crores from the market.

Below are the details of the Ceigall India Limited IPO:

  • Issue opens – August 01 (Thursday)
  • Issue closes – August 05 (Monday)
  • Issue size – Rs. 1252.66 crores
  • Price band – Rs. 380 to 401 per equity share
  • Bid lot – 37 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • Ceigall India Limited was incorporated in July 2002 are an infrastructure construction company with experience in undertaking specialized structural work such as elevated roads, flyovers, bridges, railway over bridges, tunnels, highways, expressways and runways. They are one of the fastest growing engineering, procurement and construction (“EPC”) company in terms of three-year revenue CAGR as of Fiscal 2024, among the companies with a turnover of over Rs. 10,000 million in Fiscal 2024 (Source: CARE Report) with over 20 years of experience in the industry.
  • They have gradually increased their execution capabilities in terms of size of the projects. One of their initial road projects that they executed for the Punjab Public Works Department, Ludhiana division, was awarded in 2006 with an aggregate project cost of Rs. 62.94 million for 20.42 lane km. In 2014, they were awarded the first four lane highway EPC project from NHAI for 24.08 lane km with a project cost of Rs. 378.10 million and the most recent four lane elevated corridor EPC project, which consists of one of the longest four lane elevated corridor portion of 14.26 kms in India as per CARE Report, was awarded by NHAI with a project cost of Rs. 19,693.90 million and total length of 100.32 lane km.
  • They have been empanelled to participate with the Delhi Metro Rail Corporation Limited in its upcoming tenders involving inter alia construction of railways, mega bridges and tunnels in India and abroad and also with a public sector undertaking for highways, bridges and tunnel construction work in north-eastern states of India, and such empanelment is mutually extendable.
  • As on the date of this Red Herring Prospectus, Company has completed over 34 projects, including 16 EPC, one HAM, five O&M and 12 Item Rate Projects, in the roads and highways sector. Currently, Company has 18 ongoing projects, including 13 EPC projects and five HAM projects which includes elevated corridors, bridges, flyovers, rail over-bridges, tunnels, expressway, runway, metro projects and multi-lane highways. In addition to undertaking operation and maintenance (“O&M”) activities in accordance with their contractual obligations under the EPC/HAM concession agreements, they have also undertaken independent O&M projects. Further, they have also undertaken in the past and continue to undertake sub-contracting projects.

Issue Size : Rs. 1252.66 Crores

Employee Reservation: Shares aggregating up to Rs. 2 crores

Employee Discount: Rs. 38 per share

Issue break-up :

QIB – 50% of the net offer – Rs. 625.33 Cr.
NIB – 15 % of the net offer – Rs. 187.60 Cr.
RET – 35% of the net offer – Rs. 437.73 Cr.

Listing : BSE & NSE

Registrar : Link Intime India Private Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note:

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Monday, 5th August 2024.

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