Ceigall India IPO listing: Shares list at 4.4% premium to issue price on NSE

Shares of infrastructure company Ceigall India debuted on the stock exchanges with moderate gains on Thursday, August 8. The stock opened at a premium of 4.4% at ₹419 per share as against the issue price of ₹401 on the National Stock Exchange. It gained 2.9% on the BSE.

The initial public offering (IPO) got subscribed 13.75 times during the bidding period from August 1 to August 5. The issue received bids for 30.68 crore equity shares against 2.23 crore shares on offer.

The part reserved for qualified institutional buyers (QIBs) fetched 31.50 times the subscription while non-institutional investors' portion attracted 14.40 times the subscription.

The retail individual investors (RIIs) category garnered 3.72 times the subscription.

Prior to the IPO, the company raised ₹375 crore from anchor investors. The price range for the offer was ₹380-₹401 per equity share.

The IPO proceeds will be used to buy equipment, repay debt, and general corporate purposes.

About Ceigall India

Founded in 2002, Ceigall India is involved in infrastructure construction and has experience handling specialised structural work, such as elevated roads, bridges, flyovers, railway over bridges, highways, expressways, tunnels, and runways.

As of June 2024, the company's order book stood at ₹9,470 crore. Its clients include public sector entities such as Indian Railway Construction International Ltd, Bihar State Road Development Corporation Limited and Military Engineer Services.