 "Ceigall India's IPO subscribed 13.75 times on last day of share sale | IPO News")
Price range for the offer is Rs 380-401 per share.
The initial public offer of infrastructure company Ceigall India got subscribed 13.75 times on the last day of share sale on Monday.
The Rs 1,252.66-crore initial share sale received bids for 30,68,91,912 shares against 2,23,13,663 shares on offer, as per NSE data.
The quota for Qualified Institutional Buyers (QIBs) received 31.50 times subscription while non-institutional investors’ part got subscribed 14.40 times. The portion for Retail Individual Investors (RIIs) garnered 3.72 times subscription.
The Ludhiana-based company’s IPO is a combination of a fresh issue of Rs 684.25 crore and an offer-for-sale (OFS) of up to 1.42 crore equity shares worth Rs 568.41 crore, at the upper end of the price band, by the promoters, and an individual shareholder. This takes the total issue size to Rs 1,252.66 crore.
Price range for the offer is Rs 380-401 per share.
Ceigall India on Wednesday said it has mobilised Rs 375 crore from anchor investors.
Proceeds from the fresh issue will be used for purchase of equipment, payment of debt and a portion will be used for general corporate purposes.
Founded in 2002, Ceigall India is an infrastructure construction company with experience in undertaking specialised structural work such as elevated roads, flyovers, bridges, railway over bridges, tunnels, highways, expressways and runways.
ICICI Securities, IIFL Securities and JM Financial are the managers to the offer.
As of June 2024, the company’s order book stood at Rs 9,470 crore. Its clientele includes public sector entities like Indian Railway Construction International Ltd, Military Engineer Services and Bihar State Road Development Corporation Ltd.
The equity shares are proposed to be listed on the BSE and NSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Aug 05 2024 | 7:46 PM IST
