Ceigall India IPO Description – Ceigall India is an infrastructure construction company specializing in elevated roads, flyovers, bridges, railway bridges, tunnels, highways, expressways, and runways. As of Fiscal 2024, it is one of the fastest-growing EPC companies in terms of three-year revenue CAGR among those with a turnover exceeding INR 10,000 million. The company boasts over 20 years of industry experience. The company’s principal business operations are broadly divided into EPC projects and hybrid annuity model (HAM) projects, spanning ten states in India.
As of July 2024, Ceigall India has completed over 34 projects, including 16 EPC, one HAM, five O&M, and 12 Item Rate Projects in the roads and highways sector. Currently, the company has 18 ongoing projects, comprising 13 EPC projects and five HAM projects, which include elevated corridors, bridges, flyovers, rail over-bridges, tunnels, expressways, runways, metro projects, and multi-lane highways.
As of 30 June 2024, Ceigall India’s Order Book amounted to INR 9,470.84 crore, compared to INR 9,225.78 crore in Fiscal 2024. Projects awarded by NHAI contributed 80.31% to its Order Book. Other public-sector clients include Indian Railway Construction International Limited (IRCON), Military Engineer Services (MES), and Bihar State Road Development Corporation Limited (BSRDCL).
Promoters of Ceigall India – Ramneek Sehgal, Ramneek Sehgal, and Sons HUF and RS Family Trust
Table of Contents
Ceigall India IPO Details
| Ceigall India IPO Dates | 1 – 5 August 2024 |
| Ceigall India Issue Price | INR 380 – 401 per share (Employee Discount – INR 38 per share) |
| Fresh issue | INR 684.25 crore |
| Offer For Sale | 1,41,74,840 shares (INR 538.64 – 568.41 crore) |
| Total IPO size | INR 1,222.89 – 1,252.66 crore |
| Minimum bid (lot size) | 37 shares (INR 14,837) |
| Face Value | INR 5 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
Ceigall India Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 |
| Revenue | 1,133.79 | 2,068.17 | 3,029.35 |
| Expenses | 977.03 | 1,861.85 | 2,660.83 |
| Net income | 125.86 | 167.27 | 304.31 |
| Margin (%) | 11.10 | 8.09 | 10.05 |
Ceigall India Offer News
- Ceigall India RHP
- Ceigall India DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
Ceigall India Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 (Pre Issue) | FY 2024 (Post-Issue)* | |
| EPS | 8.01 | 10.65 | 19.37 | 17.47 |
| PE Ratio | – | 19.62 – 20.70 | 21.75 – 22.95 |
| FY 2022 | FY 2023 | FY 2024 | |
| RONW (%) | 29.19 | 28.20 | 33.57 |
| NAV | 27.45 | 37.75 | 57.70 |
| ROCE (%) | 29.84 | 28.67 | 31.98 |
| EBITDA (%) | 16.40 | 14.29 | 17.09 |
| Debt/Equity | 0.73 | 1.18 | 1.17 |
Ceigall India IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 7 August 2024 | 21 | – | 500 |
| 6 August 2024 | 25 | – | 700 |
| 5 August 2024 | 55 | – | 1,200 |
| 3 August 2024 | 70 | – | 1,500 |
| 2 August 2024 | 80 | – | 1,500 |
| 1 August 2024 | 85 | – | 1,700 |
| 31 July 2024 | 85 | – | 1,500 |
| 30 July 2024 | 82 | – | 1,500 |
Ceigall India IPO Objectives
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Purchase of equipment – INR 99.79 crore
- Repayment/ prepayment, in full or in part, of certain borrowings availed by the company and its subsidiary Ceigall Infra Projects Private Limited – INR 413.40 crore
- General corporate purposes
Ceigall India – Comparison With Listed Peers
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| Ceigall India | 20.70 | 19.37 | 33.57 | 57.70 | 3,029.35 |
| PNC Infratech | 14.75 | 35.45 | 17.54 | 202.11 | 8,649.87 |
| G R Infraprojects | 12.60 | 136.87 | 17.40 | 786.27 | 8,980.15 |
| H.G. Infra Engineering | 20.43 | 82.64 | 21.94 | 376.71 | 5,378.48 |
| KNR Constructions | 13.17 | 27.64 | 21.51 | 124.37 | 4,429.49 |
| ITD Cementation India | 29.39 | 15.93 | 18.30 | 87.21 | 7,717.87 |
| J Kumar Infraprojects | 19.68 | 43.71 | 12.51 | 349.44 | 4,879.21 |
Ceigall India IPO Allotment Status
Ceigall India IPO allotment status will be available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.
Ceigall India IPO Dates & Listing Performance
| IPO Opening Date | 1 August 2024 |
| IPO Closing Date | 5 August 2024 |
| Finalization of Basis of Allotment | 6 August 2024 |
| Initiation of refunds | 7 August 2024 |
| Transfer of shares to demat accounts | 7 August 2024 |
| Ceigall India IPO Listing Date | 8 August 2024 |
| Opening Price on NSE | INR 419 per share (up 4.49%) |
| Closing Price on NSE | INR 386.75 per share (down 3.55%) |
Ceigall India IPO Reviews – Subscribe or Avoid?
Angel One –
Anand Rathi – Subscribe
Arihant Capital – Subscribe
Axis Capital – Not rated
Ajconglobal – Subscribe
BP Wealth – Subscribe
Capital Market – Subscribe
Canara Bank Securities – Subscribe
Choice Broking –
Indsec Securities – Subscribe
Elite Wealth – Not rated
HDFC Securities – Not rated
Geojit –
GEPL Capital – Subscribe
Hem Securities – Subscribe
ICICIdirect –
InvestmentZ – Not rated
Jainam Broking – Subscribe for long term
DR Choksey –
JM Financial – Not rated
Marwadi Financial – Subscribe
Motilal Oswal – Subscribe
Mehta Equities – Subscribe for long term
Nirmal Bang – Subscribe
Reliance Securities – Subscribe
Sushil Finance –
Samco Securities – Subscribe for long term
SBI Securities – Subscribe for long term
SMC Global – 2/5
SMIFS –
Swastika Investmart – Subscribe
Ventura Securities – Subscribe
Ceigall India Offer Lead Manager
ICICI SECURITIES LIMITED
ICICI Venture House Appasaheb Marathe Marg Prabhadevi
Mumbai 400 025 Maharashtra, India
Phone: +91 22 6807 7100
Email:Â [email protected]
Website: www.icicisecurities.com
Ceigall India Offer Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone:Â +91 810 811 4949
Email:Â [email protected]
Website:Â www.linkintime.co.in
Ceigall India Contact Details
CEIGALL INDIA LIMITED
A-898, Tagore Nagar,
Ludhiana 141 001, Punjab, India
Phone:Â +91 161 4623666
Email: [email protected]
Website: www.ceigall.com
Ceigall India IPO FAQs
How many shares in Ceigall India IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for the Ceigall India Public Offer?
The best way to apply for Ceigall India’s public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Ceigall India IPO GMP today?
Ceigall India IPO GMP today is INR 21 per share.
What is Ceigall India kostak rate today?
Ceigall India kostak rate today is INR NA per application.
What is Ceigall India Subject to Sauda rate today?
Ceigall India Subject to Sauda rate today is INR 500 per application.
