Ceigall India IPO opens soon – Price band to risk factors, all you need to know

Jul 30, 2024

Credit: Ceigall India

Ceigall India IPO

Punjab-based Ceigall India’s initial public offering (IPO) will open on Thursday, August 1 and will close on Monday, August 5.

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Price band

Ceigall India has fixed a price band of ₹380-₹401 per share for its public issue.

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About the company

Ceigall India is a Punjab-based infrastructure construction company that specialises in elevated roads, flyovers, railway overpasses and more.

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IPO size

Ceigall India is looking to raise ₹1,252.66 crore from the current IPO. This includes a fresh issue of ₹684.25 crore and an offer for sale (OFS) component of ₹568.41 crore.

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Lot size

Investors can bid for a minimum of 37 shares and in multiples of 37 shares thereafter.

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Current operations

The company, founded in 2002 has completed 34 road and highway projects. It currently has 18 ongoing projects including bridges, flyovers and more.

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Financials

The company’s income was ₹3,066.19 crore in FY24, up from ₹2,087.04 crore in FY23. The company reported a profit of ₹304.91 crore in FY24, up from ₹167.70 crore profit reported in FY23.

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Risk factors

Any decrease in infrastructure spending or bad performance of the economy may adversely impact its business.

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Objectives of the issue

The funds raised will be used to purchase equipment and repay the borrowing availed by the company and its subsidiary.

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Disclaimer

The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, and registered advisors for professional and personalised financial advice.

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