Published : August 6, 2024
Established in 2002, Ceigall India Limited is a construction business that specializes in specialized structural projects, such as flyovers, bridges, elevated roadways, tunnels, highways, expressways, and runways. The company was established in the railway sector.
The company has completed more than 34 road and highway projects as of July 2024. Twelve category projects, five O&M projects, one HAM project, and project 16 EPC are among these projects.
The company has 18 ongoing projects, including 13 EPC projects and 5 HAM projects. These include elevated corridors, bridges, flyovers, rail bridges, tunnels, expressways, runways, metro projects and multi-lane expressways.
As of March 31, 2024, the company has 1,488.17 km of track under its ongoing projects and has completed 2,158.72 km of track under its OandM projects. The company specializes in construction, development and execution of major multi-lane expressways with dedicated facilities in various states of India including Punjab, Haryana, Rajasthan, Uttar Pradesh, Himachal Pradesh, Jammu and Kashmir, Jharkhand, Delhi, Maharashtra and Bihar.
Ceigall India Limited has won the Gold Award and “Gold Award” at the National Highways Excellence Awards 2020 for the Khemkaran-Amritsar project. They have also received the Special Award and “Special Award” in the National Highways Excellence Awards 2021 for the Ramdas Gurdaspur Project including the Kartarpur Sahib Project.
The company’s backlog as of June 30, 2024 and for the financial years 2024, 2023 and 2022 is ₹94,708.42 million, ₹92,257.78 million, ₹108,090.43 million and ₹63,461 (0.30 million) respectively.
The company has recently completed several important projects, including road widening in Punjab, construction of the Kartarpur-Sahib project and partial completion of the elevated corridor for the Delhi-Sahibur project.
As of March 31, 2024, the company had 2,256 permanent employees..
Ceigall India IPO is a Rs 1,252.66 crore issue. The issue is a combination of a fresh issue of 1.71 crore shares worth Rs 684.25 crore and an offer for sale of 1.42 crore shares worth Rs 568.41 crore.
The Ceigall India IPO auction opened for subscription on August 1, 2024 and will close on August 5, 2024. The allotment for the Ceigall India IPO is expected to be completed on Tuesday, August 6, 2024. The Ceigall India IPO will be listed on the BSE, NSE stock exchanges with an expected listing date of Thursday, August 8, 2024.
The price band for the Ceigall India IPO is pegged at ₹380-401 per share. The minimum lot size for a single offer is 37 shares. The minimum investment amount required for retail investors is ₹14,837. The minimum investment lot size for sNII is 14 lots (518 shares) or ₹207,718 and for bNII, it is 68 lots (2,516 shares) or ₹1,008,916.
The issue includes a reservation of up to 55,096 shares for employees at a discount of Rs 38 to the issue price.
The Company proposes to use the net proceeds to fund the following items:
1. Purchase of equipment;
2. Repayment/prepayment, in whole or in part, of certain loans made by: The Company; and Subsidiary, Ceigall Infra Projects Private Limited.
The subscription for the IPO will be open from 1st August and will close on 5th August, 2024.
| IPO Open Date | 1st August 2024 |
| IPO Close Date | 5th August, 2024 |
The price band for the Ceigall India IPO has been set at ₹380 to ₹401 per share.
| IPO Price Band | ₹380 to ₹401 per share |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹5 per share |
| Market Lot | 37 Shares |
| Listing At | BSE, NSE |
| Total Issue Size | 31,238,480 shares(aggregating up to ₹684.25 Cr) |
The promoters of Ceigall India are Ramneek Sehgal, Ramneek Sehgal and Sons HUF and RS Family Trust.
| Share Holding Pre Issue | 99.99% |
| Share Holding Post Issue | 82.06% |
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 2,592.19 | 1,827.82 | 959.14 |
| Revenue | 3,066.19 | 2,087.04 | 1,146.50 |
| Profit After Tax | 304.91 | 167.70 | 126.43 |
| Net Worth | 906.41 | 593.06 | 431.25 |
| Total Borrowing | 1,811.02 | 1,252.58 | 652.12 |
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: ceigall.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/ public-issues .html.
Ceigall India Limited
A-898,
Tagore Nagar
Ludhiana – 141 001
Phone: +91 161 4623666
Email: secretarial@ceigall.com
Website: https://www.ceigall.com/
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