Published 08:57 IST, August 1st 2024

Ceigall India IPO opens today, check out details here

Ceigall India Limited has shown strong financial growth, with a revenue increase of 46.92% and a profit after tax (PAT) rise of 81.81%

Reported by: Business Desk
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Ceigall India | Image: Ceigall India
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Ceigall India IPO: Ceigall India Limited's Initial Public Offering (IPO) is set to open for subscription on August 1. The IPO, which will remain open until August 5, 2024, is going to be an anticipated event in the market, with the company's shares set to list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on August 8, 2024.

Ceigall India Limited, an infrastructure construction company, has set its IPO price band at Rs 380 to Rs 401 per share. The minimum lot size for retail investors is 37 shares, requiring a minimum investment of Rs 14,837. For non-institutional investors (NIIs), the minimum investment varies: 14 lots (518 shares) for small NIIs (sNII), amounting to Rs 207,718, and 68 lots (2,516 shares) for big NIIs (bNII), amounting to Rs 1,008,916.

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The company has a market capitalisation of Rs 69,85.41 crore and plans to use the net proceeds from the IPO for: 

  • Purchase of equipment;
  • Repayment or prepayment, in full or in part, of certain borrowings availed by the company and its subsidiary, Ceigall Infra Projects Private Limited.

Ceigall India Limited has shown strong financial growth, with a revenue increase of 46.92 per cent and a profit after tax (PAT) rise of 81.81 per cent between the financial year ending on March 31, 2024, and March 31, 2023. 

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Founded in 2002, Ceigall India Limited specialises in infrastructure construction, focusing on specialised structural projects such as elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways, and runways. 

By July 2024, the company had successfully completed over 34 road and highway projects, including 16 EPC projects, one HAM project, five O&M projects, and 12 item rate projects.

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The allotment of shares for the Ceigall India IPO is expected to be finalised on August 6, 2024

08:57 IST, August 1st 2024