Monday, November 11, 2024

Ceigall India IPO opens for subscription today: Price band and key details to know

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Aug 01, 2024 10:02 AM IST

Ceigall India IPO: The basis of allotment for the issue will be finalised on August 6 and shares of the company will be listed on the exchanges on August 8.

Ceigall India’s initial public offering (IPO) will open for subscription today (August 1). Ahead of opening of the issue, the company’s shares are trading with a premium of 70 in the unlisted market. The IPO is priced at 380-401 per share which implies a listing gain of around 17% as per GMP. For those who are looking to invest in Ceigall India IPO, you have to subscribe to the issue in a lot size of 37 equity shares and its multiples thereafter. The IPO will close for subscription on August 5 and the company aims to raise 1,253 crore through the issue.

1,253 crore through the issue.” title=”Ceigall India IPO: The IPO will close for subscription on August 5 and the company aims to raise 1,253 crore through the issue.” /> Ceigall India IPO: The IPO will close for subscription on August 5 and the company aims to raise <span class=₹1,253 crore through the issue.” title=”Ceigall India IPO: The IPO will close for subscription on August 5 and the company aims to raise 1,253 crore through the issue.” />
Ceigall India IPO: The IPO will close for subscription on August 5 and the company aims to raise 1,253 crore through the issue.

Ceigall India IPO details

Ceigall India IPO includes a mix of fresh issuance of equity shares worth 684 crore by the company and an offer-for-sale (OFS) of 1.41 crore equity shares by existing shareholders and promoters. Under the OFS, promoters Ramneek Sehgal, Ramneek Sehgal and Sons HUF, Avneet Luthra, Mohinder Pal Singh Sehgal, Parmjit Sehgal and Simran Sehgal are the selling shareholders. In the issue, as much as 50% has been set aside for qualified institutional buyers (QIBs), 35% for retail investors and remaining 15% for non-institutional investors.

Ceigall India IPO objectives

Net proceeds from the IPO will be used by the company for purchasing equipment, repaying debts and for general corporate purposes.

Ceigall India company details

Ceigall India was established in 2002 and the infrastructure construction company has expertise in specialised structural projects, including elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways and runways.

Other details on Ceigall India IPO

ICICI Securities, IIFL Securities, and ICICI Securities are the merchant bankers for the IPO. Link Intime India is the registrar of Ceigall India IPO. The basis of allotment for the issue will be finalised on August 6 and shares of the company will be listed on the exchanges on August 8.


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