Ceigall India IPO

Review of Ceigall India Limited IPO: Lot Size, Check Issue Date, Price

Ceigall India IPO Price: ₹380 to ₹401 per share
IPO Dates:
1 August 2024 – 5 August 2024

Ceigall India Logo

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 DateAugust 1, 2024 to August 5, 2024
Listing DateThursday, August 8, 2024
Face Value₹5 per share
Price Band₹380 to ₹401 per share
Lot Size37 Shares
Total Issue Size31,238,480 shares
(aggregating up to ₹1,252.66 Cr)
Fresh Issue17,063,640 shares
(aggregating up to ₹684.25 Cr)
Offer For Sale14,174,840 shares of ₹5
(aggregating up to ₹568.41 Cr)
Employee DiscountRs 38 per share
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share holding pre issue157,136,000
Share holding post issue1174,199,640

Ceigall India IPO Timetable (Important Dates)

IPO Open DateThursday, August 1, 2024
IPO Close DateMonday, August 5, 2024
Basis of AllotmentTuesday, August 6, 2024
Initiation of RefundsWednesday, August 7, 2024
Credit of Shares to DematWednesday, August 7, 2024
Listing DateThursday, August 8, 2024
Cut-off time for UPI mandate confirmation5 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.

ApplicationLotsSharesAmount
Retail (Min)137₹14,837
Retail (Max)13481₹1,92,881
S-HNI (Min)14518₹2,07,718
S-HNI (Max)672,479₹9,94,079
B-HNI (Min)682,516₹10,08,916

Ceigall India IPO Reservation

QIB Shares OfferedNot more than 50% of the Net offer
Retail Shares OfferedNot less than 35% of the Offer
NII (HNI) Shares OfferedNot 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 Ended31 Mar 202231 Mar 202331 Mar 2024
Assets959.141827.822592.19
Revenue1146.502087.043066.19
Profit After Tax126.43167.70304.91
Net Worth431.25593.06906.41
Total Borrowing652.121252.581811.02
Amount in ₹ Crore

Key Performance Indicator – Ceigall India IPO

KPIValues
Market Cap ₹6985.41 Cr
EPS₹19.4
P/E (x)20.67
ROE33.57%
ROCE31.98%
Debt/ Equity1.17
RoNW33.57%
P/BV6.95
PAT Margin10.05%

Objects of the Issue:

The company plans to utilize the net proceeds for the following purposes (collectively, the “Objects”):

  1. Purchasing equipment
  2. 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.

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