Ceigall India IPO Price: ₹380 to ₹401 per share
IPO Dates: 1 August 2024 – 5 August 2024
Company Overview
Founded in July 2002, Ceigall India Limited is an infrastructure construction company specializing in elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways, and runways. The company has a strong reputation for delivering quality projects and is recognized as one of the fastest-growing engineering, procurement, and construction (EPC) companies in terms of three-year revenue CAGR as of Fiscal 2023, among companies with a turnover exceeding ₹10,000 million in Fiscal 2023.
Project Accomplishments
By July 2024, Ceigall India Limited completed over 34 road and highway projects, including 16 EPC projects, one HAM project, five O&M projects, and 12 Item Rate Projects. Notable recent projects include the widening of a road in Punjab, the construction of the Kartarpur-Sahib Project, and the completion of an elevated corridor portion for the Delhi-Saharanpur Project. These projects highlight Ceigall India Limited’s capability and commitment to enhancing infrastructure across India.
Ongoing Projects
Ceigall India Limited currently has 18 ongoing projects, comprising 13 EPC projects and five HAM projects. These projects involve the construction of elevated corridors, bridges, flyovers, rail over-bridges, tunnels, expressways, runways, metro projects, and multi-lane highways. As of March 31, 2024, the company is working on 1,488.17 lane kilometers of ongoing projects and has completed 2,158.72 lane kilometers of O&M projects.
Geographic Reach
The company’s projects span various states in India, including Punjab, Haryana, Rajasthan, Uttar Pradesh, Himachal Pradesh, Jammu and Kashmir, Jharkhand, Delhi, Maharashtra, and Bihar. This widespread presence underscores Ceigall India Limited’s ability to execute projects in diverse geographic and climatic conditions.
Awards and Recognition
Ceigall India Limited has received notable accolades for its excellence in infrastructure development. The company won the “Gold Award” at the National Highways Excellence Award, 2020 for the Khemkaran-Amritsar Project and a “Special Award” at the National Highways Excellence Awards, 2021 for the Ramdas Gurdaspur Project, including the Kartarpur Sahib Project.
Bidding Starts In
Ceigall India IPO Specifics:
| IPO Date | August 1, 2024 to August 5, 2024 |
| Listing Date | Thursday, August 8, 2024 |
| Face Value | ₹5 per share |
| Price Band | ₹380 to ₹401 per share |
| Lot Size | 37 Shares |
| Total Issue Size | 31,238,480 shares (aggregating up to ₹1,252.66 Cr) |
| Fresh Issue | 17,063,640 shares (aggregating up to ₹684.25 Cr) |
| Offer For Sale | 14,174,840 shares of ₹5 (aggregating up to ₹568.41 Cr) |
| Employee Discount | Rs 38 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 157,136,000 |
| Share holding post issue | 1174,199,640 |
Ceigall India IPO Timetable (Important Dates)
| IPO Open Date | Thursday, August 1, 2024 |
| IPO Close Date | Monday, August 5, 2024 |
| Basis of Allotment | Tuesday, August 6, 2024 |
| Initiation of Refunds | Wednesday, August 7, 2024 |
| Credit of Shares to Demat | Wednesday, August 7, 2024 |
| Listing Date | Thursday, August 8, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 5, 2024 |
Ceigall India IPO Lot Size
Bidders have the opportunity to bid for a minimum of 37 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 37 | ₹14,837 |
| Retail (Max) | 13 | 481 | ₹1,92,881 |
| S-HNI (Min) | 14 | 518 | ₹2,07,718 |
| S-HNI (Max) | 67 | 2,479 | ₹9,94,079 |
| B-HNI (Min) | 68 | 2,516 | ₹10,08,916 |
Ceigall India IPO Reservation
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
Ceigall India Limited IPO Financial Information
Ceigall India Limited witnessed a substantial 46.92% growth in revenue and a remarkable 81.81% increase in profit after tax (PAT) during the period spanning from March 31, 2023, to March 31, 2024.
| Period Ended | 31 Mar 2022 | 31 Mar 2023 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 959.14 | 1827.82 | 2592.19 |
| Revenue | 1146.50 | 2087.04 | 3066.19 |
| Profit After Tax | 126.43 | 167.70 | 304.91 |
| Net Worth | 431.25 | 593.06 | 906.41 |
| Total Borrowing | 652.12 | 1252.58 | 1811.02 |
Key Performance Indicator – Ceigall India IPO
| KPI | Values |
|---|---|
| Market Cap | ₹6985.41 Cr |
| EPS | ₹19.4 |
| P/E (x) | 20.67 |
| ROE | 33.57% |
| ROCE | 31.98% |
| Debt/ Equity | 1.17 |
| RoNW | 33.57% |
| P/BV | 6.95 |
| PAT Margin | 10.05% |
Objects of the Issue:
The company plans to utilize the net proceeds for the following purposes (collectively, the “Objects”):
- Purchasing equipment
- Repaying or prepaying, in full or in part, certain borrowings taken by:
- The Company
- The Subsidiary, Ceigall Infra Projects Private Limited
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
