August 1, 2024
New Delhi, India
Ceigall India’s initial public offering (IPO) opens for subscription today, August 1, 2024. Ahead of the opening, the company’s shares are trading at a premium of ₹70 in the unlisted market. Priced between ₹380-401 per share, the IPO implies a listing gain of approximately 17% according to the grey market premium (GMP).
Key Details of Ceigall India IPO:
- Subscription Dates: The IPO opens today, August 1, and will close on August 5, 2024.
- Price Band: ₹380 to ₹401 per equity share.
- Lot Size: Investors need to subscribe in a lot size of 37 equity shares and multiples thereafter.
- Total Issue Size: The company aims to raise ₹1,252.66 crore through the IPO. This includes ₹684.25 crore from issuing fresh shares and ₹568.41 crore through the Offer for Sale (OFS) route.
- IPO Objectives: The net proceeds will be used for purchasing equipment, repaying debts, and general corporate purposes.
- Company Background: Established in 2002, Ceigall India specializes in infrastructure construction, including elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways, and runways.
- Merchant Bankers: ICICI Securities, IIFL Securities, and ICICI Securities are the merchant bankers for the IPO.
- Registrar: Link Intime India Private Limited is the registrar for the IPO.
Important Dates:
- Subscription Period: August 1 to August 5, 2024
- Allotment Finalization: August 6, 2024
- Listing Date: August 8, 2024
Grey Market Premium (GMP): Ceigall India shares are trading at a premium of ₹70 in the grey market, indicating positive investor sentiment.
Market Listing: The IPO is proposed to be listed on both the BSE and NSE.
Investors looking to subscribe to Ceigall India’s IPO should note the key dates and details. With a strong background in infrastructure construction and a positive grey market premium, the IPO presents a promising opportunity. Ensure to subscribe within the given lot size and keep track of the important dates for allotment and listing.
Disclaimer:
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