IPO screener: Ceigall India blueprint subscribed 0.61 instances at discontinuance of Day 1

Up to this level - August 02, 2024 at 10:28 AM.

The ₹1,252.66-crore IPO consists of a fresh blueprint of up to ₹684.25 crore and a proposal-for-sale of up to 1.42 crore shares worth ₹568.41 crore by promoter selling shareholders and particular person selling shareholders

The IPO of Ceigall India, an infrastructure construction company, was once subscribed 0.61 instances or 61 per cent on the discontinuance of Day 1 of blueprint opening on Thursday. 

The ₹1,252.66-crore IPO consists of a fresh blueprint of up to ₹684.25 crore and a proposal-for-sale of up to 1.42 crore shares worth ₹568.41 crore by promoter selling shareholders and particular person selling shareholders.

The IPO closes on August 5. The impress band for the offer has been clear at ₹380–401 a part. As in opposition to a issue dimension of 2.23 crore shares (accumulate-off anchor fraction), the IPO got bids for 1.35 crore shares.

Investors can order no lower than 37 equity shares and in multiples of 37 equity shares thereafter.

Up to 50 per cent of the accumulate offer will doubtless be accessible to certified institutional patrons, 15 per cent to non-institutional patrons and 35 per cent to retail patrons.

Whereas QIBs are yet to blueprint order, retail patrons’ fraction was once subscribed by 0.80 instances and HNIs by 0.90 instances. Staff quota, (58,479 shares) was once oversubscribed by on the subject of 3 instances. The company is giving a decrease impress of Rs 38 per equity part to its staff

ICICI Securities Diminutive, IIFL Securities Diminutive, and JM Financial Diminutive are the guide-running lead managers and Link Intime India Non-public Diminutive is the registrar to the offer.

The equity shares are proposed to be listed on BSE and NSE. The accumulate proceeds of the fresh Field are to be utilised for aquire of tools (₹ninety 9.Seventy 9 crore) and re-price/pre-price. in fats or part, of clear borrowings ₹413.4 crore.

As part of the IPO exercise, the company has garnered ₹375.20 crore from anchor patrons. 

Foreign and domestic institutions such as Nomura Funds Eire Public Ltd – India Equity Fund, ICICI Prudential Flexicap Fund, HDFC Smallcap Fund, HDFC Trustee Company Ltd, Nippon Lifestyles India Smallcap Fund, Kotak Infrastructure & Financial Reform Fund, Axis Mutual Fund, Bandhan Infrastructure Fund, SBI Identical outdated Insurance Company, Nataxis Worldwide Fund, Carmignac Portfolio, Goldman Sachs (Singapore) PTE- ODI, Tata Multicap Fund, Tata Dividend Yield Fund, ICICI Prudential Lifestyles Insurance Company Ltd, Bajaj Allianz Lifestyles Insurance Company Ltd, Max Lifestyles Insurance Ltd, Edelweiss Trusteeship Co. Ltd. Bank of India Manufacturing & Infrastructure Fund, In trend Sompo Identical outdated Insurance Company Ltd, Hero Enterprise Belief, Built-in Core Methods(Asia) Pte Ltd. Societe Generale, Morgan Stanley Asia (Singapore) Pte and Citigroup Worldwide Markets Mauritius Pvt. Ltd, participated within the anchor guide.

Constant with SBI Securities, Ceigall is one among the fastest rising engineering, procurement and construction (EPC) corporations by formulation of 3-year earnings CAGR as of FY24, among the many companies with a turnover of over ₹1,000 crore in FY24. The company’s revenues hang grown at a CAGR of fifty.1 per cent over FY21-24.

With a various portfolio of projects spanning elevated roads, flyovers, bridges, railway over bridges, tunnels, highways, metros, expressways, and runways, Ceigall India Ltd has established itself as a key participant within the Indian infrastructure sector. The company’s strong commerce mannequin, notable monetary snarl, and strategic empanelments residing it as a formidable entity within the commerce.

As of June 30, 2024, the company’s order guide stood at ₹9,470.84 crore, with notable contributions from NHAI projects, indicating a unparalleled pipeline of future projects, based on Chola Securities.

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