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 | 3,12,38,480 shares (aggregating up to ₹ 1,252.66 Cr) |
| Fresh Issue | 1,70,63,640 shares (aggregating up to ₹ 684.25 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE BSE |
| Shareholding pre issue | 15,71,36,000 |
| Shareholding post issue | 1,35,56,121 |
| Market Maker portion | 17,41,99,640 |
About Ceigall India Limited IPO
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 |
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, ₹6.29 crores).
- First NHAI four-lane highway EPC project in 2014 (24.08 lane km, ₹37.81 crores).
- Recent four-lane elevated corridor project (14.26 km, ₹1,969.39 crores).
Current Bidding Capacity:
- Up to ₹5,700 crores for NHAI EPC projects.
- Up to ₹5,500 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.
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.
Ceigall India Limited IPO Financial Information
Latest Revenue
3,066.19
₹ Crore
Profit After Tax
304.91
₹ Crore
Net Worth
906.41
₹ Crore
Total Borrowing
1,811.02
₹ Crore
| Period Ended | Assets | Revenue From Operations | 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 | |||||||||
Ceigall India Limited 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 |
Frequently Asked Questions
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Competitive Strengths
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Ceigall India Limited IPO Timeline
| 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 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 37 | ₹14,837 |
| Retail (Max) | 13 | 481 | ₹192,881 |
| HNI (Min) | 14 | 518 | ₹207,718 |