Ceigall India was incorporated on July 8, 2002. It is 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.
| Bidding Dates |
|---|
| 01 Aug 2024 - 05 Aug 2024 |
| Subscription |
|---|
| 13.78x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,060 | 1 | 13 | 37 | 31.2 M | ₹380 - ₹401 | 82.06 % | ₹11870.6 M - ₹12526.6 M | RHP DOC |
Ceigall IPO SUBSCRIPTION STATUS
05 Aug '24Ceigall IPO overall subscription rate was 13.78 times the total available shares
Ceigall IPO retail subscription rate was 3.77 times in the retail segment
Ceigall IPO non-institutional investor subscription rate was 14.42 times in the non-institutional investor category
Ceigall IPO Qualified Institutional Bidder subscription rate was 31.5 times the available shares for Qualified Institutional Bidder
Ceigall IPO Employees subscription rate was 11.55 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
05 Aug 2024 (Day 3) | 3.77x | 14.42x | 31.5x | 11.55x |
02 Aug 2024 (Day 2) | 1.65x | 1.75x | 0.01x | 5.47x |
01 Aug 2024 (Day 1) | 0.8x | 0.9x | 0x | 2.96x |
Ceigall FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY24 | 3,043.1 | 30,293.5 | -2,108.3 | -3,165.0 | 17.1% |
| FY23 | 1,672.7 | 20,681.7 | -727.1 | -2,291.3 | 14.3% |
| FY22 | 1,258.6 | 11,337.9 | -1,345.9 | -2,142.6 | 16.4% |
Ceigall IPO SUBSCRIPTION STATUS DETAILS
Ceigall had 31.2 M shares on offer
Ceigall IPO offer price was in the range ₹380 - ₹401
Ceigall IPO minimum Investment was ₹14060
Ceigall IPO issue size was ₹ 11870.6 M - ₹ 12526.6 M
Ceigall had a minimum lot size of 37 Shares per application
Ceigall NUMBER OF SHARES ON OFFER
Ceigall IPO IMPORTANT DATES
| Issue Open Date | 01 Aug 2024 |
| Issue close Date | 05 Aug 2024 |
| Allotment Date | 06 Aug 2024 |
| Refund Date | 07 Aug 2024 |
| Demat Account Credit Date | 07 Aug 2024 |
| Listing Date | 08 Aug 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Ceigall Allotment Status | Exchange |
Ceigall IPO subscription opened on 01 Aug 2024, and closed on 05 Aug 2024
IPO allotment for Ceigall was finalized on Tuesday, 06 Aug 2024
IPO listing for Ceigall was on NSE and BSE on Thursday, 08 Aug 2024
Ceigall IPO LISTING GAINS
| Issue Price (adjusted) | 401.0 |
| Listing Open Price | 419.0 |
| Listing Close Price | 386.8 |
| Listing Gain% | 4.5% |
| Current Gain% | -16.9% |
Ceigall Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ceigall India Ltd. | 333.4 | 5806.9 | 18.1 | 0.9 | 1.4 | 14.6 | 5.6 | 4076.7 | 16.7 | 311.9 | 6.1 | 18.4 | 19.5 |
| Larsen & Toubro Ltd. | 4056 | 570643.6 | 34.4 | 7.6 | 2 | 14.7 | 3.6 | 291635 | 12.2 | 16084 | 7 | 117.9 | 4.5 |
| GMR Airports Ltd. | 107.2 | 113192.2 | 645 | 4.5 | 7.6 | -7.1 | 0.3 | 15200.8 | 40.3 | 175.5 | 144.7 | 0.2 | 144.7 |
| Rail Vikas Nigam Ltd. | 233.4 | 48660.2 | 55.6 | -1.8 | 2.4 | 8.9 | 4 | 21187.4 | 1.3 | 874.7 | -31.7 | 4.2 | -31.7 |
| NBCC (India) Ltd. | 95.3 | 25739.1 | 35.7 | 1.1 | 2 | 23.9 | 4.4 | 13195.9 | 7.5 | 720 | 33.1 | 2.7 | 33.1 |
| Kalpataru Projects International Ltd. | 1317.2 | 22494.2 | 21.6 | 0.3 | 0.8 | 13.4 | 3.8 | 27247.9 | 21.8 | 1040 | 77.6 | 60.9 | 77.5 |
Ceigall INFORMATION ON IPO ISSUE
About Ceigall
Ceigall India was incorporated on July 8, 2002. It is 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.
Object of the Issue
- Purchase of equipment
- Repayment/ prepayment, in full or in part, of certain borrowings availed by:
a) the Company
b) its Subsidiary, Ceigall Infra Projects - General corporate purposes
Ceigall - PROMOTERS
| Name |
|---|
| Ramneek Sehga |
| Ramneek Sehgal and Sons HUF |
| RS Family Trust |
Ceigall Book Running Lead Manager
ICICI Securities Limited
ceigall.ipo@icicisecurities.com
IIFL Securities Limited
ceigall.ipo@iiflcap.com
JM Financial Limited
ceigall.ipo@jmfl.com
Ceigall Registrar to the Offer
Link Intime India Private Limited
ceigall.ipo@linkintime.co.in
Ceigall Strengths
Healthy Orderbook
The company has a diversified order book across different business and geographical regions, which enables it to pursue a broader range of project tenders and maximise its business volume and profit margins.
Leadership position
It is one of the fastest growing engineering, procurement, and construction (“EPC”) companies in terms of three-year revenue CAGR, among the companies with a turnover of over Rs 10,000 million. It has achieved one of the highest year-on-year revenue growth of approximately 43.1% in FY24.
Ceigall Risks
Dependent on government authorities
The company's business is primarily dependent on contracts awarded by governmental authorities. Any adverse changes in the central, state, or local government policies may lead to their contracts being foreclosed, terminated, restructured, or renegotiated, which may have a material impact on its business and profitability.
Competitive Bidding
The company is awarded all the projects primarily through a competitive bidding process, and the bids may not always be accepted. The company may not be able to qualify for, compete, and win projects or identify and acquire new projects, which could adversely affect our business and results of operations.
IPO FAQs
This IPO consists of an offer for sale of up to Rs 568.4 crore, of 14,174,840 shares. It also consists of a fresh issue of Rs 684.2 crore.
The promoters of the company are Ramneek Sehga, Ramneek Sehgal and Sons HUF and RS Family Trust.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 380.0 - 401.0.
The IPO application opens on Aug 01, 2024 and closes on Aug 05, 2024.
The minimum lot size for the IPO is 37. The maximum lot size for the IPO is 481.
For all category investors, the minimum application amount for this IPO is Rs. 14,060.0, the maximum value for this IPO is Rs 192,881.0.
This IPO will be allotted on Aug 06, 2024.
The refund will be credited to your account on Aug 07, 2024.
The allotted shares will be credited to your demat on Aug 07, 2024.
Ceigall India Ltd.’s shares listed on the stock exchanges on Aug 08, 2024.