Jul 30, 2024
By: Sourabh Jain
Credit: Ceigall India
Punjab-based Ceigall India’s initial public offering (IPO) will open on Thursday, August 1 and will close on Monday, August 5.
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Ceigall India has fixed a price band of ₹380-₹401 per share for its public issue.
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Ceigall India is a Punjab-based infrastructure construction company that specialises in elevated roads, flyovers, railway overpasses and more.
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Ceigall India is looking to raise ₹1,252.66 crore from the current IPO. This includes a fresh issue of ₹684.25 crore and an offer for sale (OFS) component of ₹568.41 crore.
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Investors can bid for a minimum of 37 shares and in multiples of 37 shares thereafter.
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The company, founded in 2002 has completed 34 road and highway projects. It currently has 18 ongoing projects including bridges, flyovers and more.
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The company’s income was ₹3,066.19 crore in FY24, up from ₹2,087.04 crore in FY23. The company reported a profit of ₹304.91 crore in FY24, up from ₹167.70 crore profit reported in FY23.
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Any decrease in infrastructure spending or bad performance of the economy may adversely impact its business.
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The funds raised will be used to purchase equipment and repay the borrowing availed by the company and its subsidiary.
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