Ceigall India IPO opens for subscription

The initial public offering (IPO) of Ceigall India Ltd. opened for subscription on August 1, 2024, and will remain available until August 5, 2024. The IPO aims to raise approximately ₹1,252.66 crore, with a price band set between ₹380 and ₹401 per share. Investors can bid for a minimum of 37 shares, with further bids in multiples of 37.

Key Details of the Ceigall India IPO

• Issue Composition : The IPO includes a fresh issuance of equity shares worth ₹684.25 crore and an offer-for-sale (OFS) component of up to 1.42 crore shares valued at ₹568.41 crore from selling shareholders.
• Anchor Investment : Prior to the public offering, Ceigall India secured ₹375 crore from anchor investors, which include prominent funds such as ICICI Prudential and HDFC Mutual Fund.
• Use of Proceeds : The funds raised will be allocated for purchasing equipment, repaying certain borrowings, and general corporate purposes.
• Market Position : Ceigall India is recognized as a rapidly growing player in the engineering, procurement, and construction (EPC) sector, with a robust order book of ₹9,470.84 crore as of June 30, 2024. The company has shown significant revenue growth, with a CAGR of 50.1% over the past three years.
• Listing Date : The IPO includes a fresh issuance of equity shares worth ₹684.25 crore and an offer-for-sale (OFS) component of up to 1.42 crore shares valued at ₹568.41 crore from selling shareholders.

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