Ceigall India IPO
Ceigall India IPO — date, price band, lot size & details 2024
Ceigall India listed on 8 Aug 2024 at ₹419, 4.5% above the ₹401 issue price.
Ceigall India is an infrastructure construction company specialising in elevated roads, flyovers, bridges, tunnels, highways, expressways and runways. Its total income was Rs 3,066.19 crore in FY2024.
Stock price
Ceigall India is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 01 Aug 2024
- Close 05 Aug 2024
- Allotment 06 Aug 2024
- Refund/credit 07 Aug 2024
- Listing 08 Aug 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 1 to 5 Aug, 2024 |
|---|---|
| Price Band | ₹380 – ₹401 |
| Face Value | ₹5 |
| Lot Size | 37 Shares |
| Issue Size | ₹1252.66 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 38.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,837 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 37 shares at the ₹401 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 37 | ₹14,837 |
| Retail (max) | 13 | 481 | ₹1,92,881 |
| S-HNI (min) | 14 | 518 | ₹2,07,718 |
| S-HNI (max) | 67 | 2,479 | ₹9,94,079 |
| B-HNI (min) | 68 | 2,516 | ₹10,08,916 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 1,146.50 crore in FY2022 to Rs 3,066.19 crore in FY2024.
- 02Profit after tax rose from Rs 126.43 crore in FY2022 to Rs 304.91 crore in FY2024.
- 03The pre-issue P/E was 20.67 at the upper band of Rs 401, based on EPS of Rs 19.40.
- 04The source puts return on net worth at 33.57% and the PAT margin at 10.05%.
- 05It has completed over 34 projects across 10 states.
Risks · 5
- 01Total borrowing rose from Rs 652.12 crore on 31 March 2022 to Rs 1,811.02 crore on 31 March 2024.
- 02Most work is for government road bodies, so payment delays and bidding competition matter. Debt to equity was 1.17 as per the source.
- 03Rs 568.32 crore of the Rs 1,252.66 crore issue was offer for sale by the promoter group.
- 04Fast growth needs heavy working capital and equipment, with Rs 99.79 crore of the issue for equipment.
- 05Promoters and the promoter group held 99.99% before the issue and 82.06% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Ceigall India offer document.
| Metric | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 2,592.19 | 1,827.82 | 959.14 |
| Total Income | 3,066.19 | 2,087.04 | 1,146.50 |
| Profit After Tax | 304.91 | 167.70 | 126.43 |
| NET Worth | 906.41 | 593.06 | 431.25 |
| Total Borrowing | 1,811.02 | 1,252.58 | 652.12 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Ceigall India RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Ceigall India IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹19.40 | ₹17.50 |
| P/E Ratio (x) | 20.67 | 22.91 |
| Market Cap at Offer Price (₹ Cr) | ₹6,302.52 | ₹6,986.79 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹401 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹652.31 Cr of the issue is earmarked to named objects.
About the company
It has experience in specialised structural work such as elevated roads, flyovers, bridges, railway over bridges, tunnels, highways, metros, expressways and runways. Over two decades it has grown from a small construction company into an established EPC player.
Its promoters are Ramneek Sehgal, Ramneek Sehgal and Sons HUF and RS Family Trust.
The IPO was Rs 1,252.66 crore, with Rs 684.35 crore of fresh issue and Rs 568.32 crore of offer for sale by promoters and promoter group members. Rs 384.57 crore was planned for repaying the company's borrowings and Rs 99.79 crore for equipment.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Ceigall India IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
125 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
IIFL Capital Services Limited
116 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: Rategain Travel Technologies (-15.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Ceigall India?
The current Grey Market Premium is ₹70, or 17% over the issue price.
What is the Ceigall India IPO price band?
₹380 to ₹401, on a face value of ₹5.
When is the allotment?
The basis of allotment is 6 August 2024, with listing on 8 August 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
