Ceigall IPO to Open for Subscription on August 1st

Founded in 2002, Ceigall India Limited specializes in infrastructure construction with a focus on specialized structural projects. These projects include elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways, and runways. By July 2024, the company had completed over 34 road and highway projects, including 16 EPC projects, one HAM project, five O&M projects, and 12 Item Rate Projects.

IPO Details

The Ceigall IPO comprises a fresh issue of Rs 617.69 crore and an offer for sale of 1.42 crore shares. The subscription period for the IPO is from August 1, 2024, to August 5, 2024. The allotment of shares is expected to be finalized on August 6, 2024, with the listing on BSE and NSE scheduled for August 8, 2024. The price bands for the IPO are yet to be announced. The book-running lead managers for the Ceigall India IPO are ICICI Securities Limited, IIFL Securities Ltd, and JM Financial Limited. Link Intime India Private Ltd has been appointed as the registrar for the issue.

Objectives of the Issue

The proceeds from the IPO will be used for several key initiatives. These include the purchase of equipment and the repayment or prepayment of certain borrowings availed by the company and its subsidiary, Ceigall Infra Projects Private Limited. These objectives are aimed at enhancing the company’s operational efficiency and financial stability.

Financial Performance

Conclusion: Ceigall India’s IPO represents a strategic move to bolster the company’s financial position and support its expansion plans. With a strong track record in infrastructure construction and a clear plan for utilizing the proceeds, Ceigall India is well-positioned to capitalize on the growing demand for specialized structural projects. The IPO is expected to attract significant investor interest, reflecting confidence in the company’s future growth and success.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.