Ceigall India IPO fully subscribed on day 2: Check price band, offer size, lot side and other key details

Ceigall India Limited IPO was fully subscribed on the second day of bidding on Friday, August 2, after a subdued response on the first day of bidding.

The mainboard IPO opened for subscription on August 1. The subscription window of the initial public offer will close on August 5.

The NSE data showed that the Ceigall India IPO received bids for more than 2.74 crore shares against the 2.23 crore shares on offer, leading to an overall subscription of 1.23 times.

The retail portion of the public issue was booked 1.65 times, with applications for nearly 1.86 crore shares against 1.12 crore shares set aside for the category. The non-institutional investors (NIIs) applied for nearly 54.55 lakh shares compared to 32.12 lakh shares reserved for the segment. The NIIs’ portion was booked 1.7 times. The IPO saw a poor response from the Qualified Institutional Buyers (QIBs) with bids only for 62,604 shares. The company has set aside 61.9 lakh shares for the QIBs’ category.

The employees booked their segment 5.47 times with applications for 3.2 lakh shares against 58,479 shares set aside for them.

Ceigall India IPO offer size, price band and minimum investment

Ceigall India Limited IPO is a book-building issue worth ₹1,252.66 crore. The mainboard IPO is a combination of a fresh issue of 1.71 crore shares aggregating to ₹684.25 crore and an offer-for-sale (OFS) of 1.42 crore shares aggregating to ₹568.41 crore.

Ceigall India IPO price band has been fixed at ₹380 to ₹401 per share.

The retail investors can apply for a minimum single lot size of 37 shares, aggregating to an investment of ₹14,837.

The IPO offer size includes an employee portion of 58,479 shares, at a discount of ₹38 to the issue price, and an anchor allocation of 93.56 lakh shares.

Ceigall India Limited IPO allotment status and listing date

The IPO share allotment status is likely to be finalised on August 6.

Refunds will be initiated for unsuccessful bidders on August 7 and shares will be credited in the Demat accounts of successful bidders the same day.

Shares of Ceigall India IPO are likely to be listed on both the NSE and BSE on August 8.

Ceigall India IPO registrar

The registrar for Ceigall India IPO is Link Intime India Private Limited, while the book-running lead managers for the issue are ICICI Securities Limited, IIFL Securities Limited and JM Financial Limited.

Ceigall India IPO objective

Ceigall India Limited plans to use the money raised via the public issue to purchase equipment. The company will also use a portion of the funds to repay/prepay its loans and those of its subsidiary, Ceigall Infra Projects Private Limited.

About Ceigall India Limited

Ceigall India Limited, founded in 2002, is a leading infrastructure construction company specialising in complex structural projects such as elevated roads, flyovers, bridges, and tunnels. By July 2024, the company had successfully completed over 34 road and highway projects and was engaged in 18 ongoing projects across various states in India.