Desco Infratech Limited SME IPO: A New Investment Opportunity in Infrastructure...
18 Apr, 2025
Ceigall India Limited IPO
Incorporated in July 2002, the company has achieved substantial growth in the roads and highways sector. We have completed over 34 projects, including 16 EPC, one HAM, five O&M, and 12 Item Rate projects. Noteworthy accomplishments include a significant four-lane highway EPC project in 2014 and one of Indiaâs longest four-lane elevated corridors. As of March 31, 2024, we have constructed 1,739.88 lane km of roads, with 1,488.17 lane km currently ongoing and 2,158.72 lane km in O&M.
We operate across ten states and are led by Promoter and MD Ramneek Sehgal, supported by a team of over 2,256 professionals. The Ceigall India IPO is a book-built issue valued at â¹1,252.66 crores. This offering includes a fresh issue of 1.71 crore shares, raising â¹684.25 crores, and an offer for sale of 1.42 crore shares, generating â¹568.41 crores. The IPO will open for subscription on August 1, 2024, and close on August 5, 2024. Allotments are expected to be finalized on August 6, 2024, with shares scheduled to be listed on the BSE and NSE on August 8, 2024. The price band for the IPO is set between â¹380 and â¹401 per share. Retail investors must apply for a minimum of 37 shares, requiring an investment of â¹14,837. For NII investors, the minimum lot size is 14 lots (518 shares), totalling â¹207,718, while bNII investors must apply for 68 lots (2,516 shares), amounting to â¹1,008,916.ICICI Securities Limited, IIFL Securities Ltd, and JM Financial Limited are the book-running lead managers for the IPO, with Link Intime India Private Ltd serving as the registrar. For more details, refer to the Ceigall India IPO Red Herring Prospectus (RHP).
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Ceigall India Limited IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Ceigall India Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | August 1, 2024 to August 5, 2024 |
| Listing Date | - |
| Face Value | ₹5 per share |
| Price Band | ₹380 to ₹401 per share |
| Lot Size | 37 Shares |
| Total Issue Size | 31,238,480 shares (aggregating up to ₹1,252.66 Cr) |
| Fresh Issue | 17,063,640 shares (aggregating up to ₹684.25 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE BSE |
| Shareholding pre issue | 157,136,000 |
| Shareholding post issue | 13,556,121 |
| Market Maker portion | 174,199,640 |
Ceigall India Limited IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Thursday, August 1, 2024 |
| IPO Close Date | Monday, August 5, 2024 |
| Basis of Allotment | Tuesday, August 6, 2024 |
| Initiation of Refunds | Wednesday, August 7, 2024 |
| Credit of Shares to Demat | Wednesday, August 7, 2024 |
| Listing Date | Thursday, August 8, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 5, 2024 |
Ceigall India Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 37 | ₹14,837 |
| Retail (Max) | 13 | 481 | ₹192,881 |
| HNI (Min) | 14 | 518 | ₹207,718 |
Ceigall India IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Ceigall India Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 99.99% | - |
Company & Financials
- Established: July 2002.
- Focus: Engineering, Procurement, and Construction (EPC) and Hybrid Annuity Model (HAM) projects.
- Project Scope: Operates across ten Indian states.
Notable Projects:
- Initial road project for Punjab in 2006 (20.42 lane km, â¹6.29 crores).
- First NHAI four-lane highway EPC project in 2014 (24.08 lane km, â¹37.81 crores).
- Recent four-lane elevated corridor project (14.26 km, â¹1,969.39 crores).
Current Bidding Capacity:
- Up to â¹5,700 crores for NHAI EPC projects.
- Up to â¹5,500 crores for NHAI HAM projects.
- Empanelment: Eligible for Delhi Metro Rail Corporation and public sector tenders for railways, bridges, and tunnels.
- Completed Projects: Over 34, including 16 EPC, 1 HAM, 5 O&M, and 12 Item Rate projects.
- Ongoing Projects: 18 projects, including elevated corridors, bridges, flyovers, rail over-bridges, tunnels, expressways, runways, metro projects, and multi-lane highways.
- Additional Activities: Handles operation and maintenance (O&M) and subcontracting projects.
Competitive Strength:
- -
Ceigall India Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2024 | 2,592.19 | 3,066.19 | 304.91 | 906.41 | 1,811.02 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 1,827.82 | 2,087.04 | 167.70 | 593.06 | 1,252.58 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2022 | 959.14 | 1,146.50 | 126.43 | 431.25 | 652.12 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 33.57% |
| ROCE | 31.98% |
| Debt/Equity | 1.17 |
| RoNW | 33.57% |
| P/BV | 6.95 |
| PAT Margin (%) | 10.05 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 19.4 | 17.5 |
| P/E (x) | 20.67 | 22.91 |
Objectives of Ceigall India Limited IPO
The company plans to use the net proceeds for the following purposes (collectively referred to as the "Objectives"):
- 1. Acquiring new equipment.
- 2. Repaying or prepaying, either fully or partially, certain borrowings taken by:
- 1. The Company
- 2. Its subsidiary, Ceigall Infra Projects Private Limited.
Ceigall India IPO Review
The company specializes in EPC infrastructure contracting and has recently partnered with Delhi Metro for rail infrastructure projects. It has established a strong position in the NHAI project sector. Operating in a highly competitive and fragmented industry, the IPO appears to be priced on the higher side based on FY24 earnings. However, given the current order inflow and substantial order book, it represents a long-term investment opportunity. Investors may consider allocating moderate funds with a focus on long-term growth.
RHP:
DRHP:
Frequently asked Questions (FAQs )
-
What is Ceigall India IPO?
The Ceigall India IPO is a main-board offering of 31,238,480 equity shares, each with a face value of ₹5, totalling up to ₹1,252.66 crores. The shares are priced between ₹380 and ₹401 per share, with a minimum order quantity of 37 shares.
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When will Ceigall India IPO?
The IPO opens on August 1, 2024, and closes on August 5, 2024.
-
What is Ceigall India IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Ceigall India's IPO Size?
Ceigall India IPO is a main-board IPO of 31,238,480 equity shares of a face value of ₹5 aggregating up to ₹1,252.66 Crores
-
What is the Ceigall India IPO Price Band?
Ceigall India IPO price band is set at ₹380 to ₹401 per share.
-
What is Ceigall India IPO Minimum and Maximum Lot Size?
Ceigall India IPO lot size is 37 Shares, and the minimum amount required is ₹14,837.
