Ceigall India, an infrastructure construction company, is set to make its debut on the recognized stock exchanges on August 8. Analysts predict that the stock will open with a moderate premium of approximately 5 per cent over the issue price of \u20b9401 per share.<\/p>\n
Despite a lack of strong signals from the grey market, where shares are currently trading at a 3-6 per cent premium, market observers are optimistic about the stock\u2019s initial performance. Ceigall India has successfully raised \u20b91,252.66 crore through its initial public offering (IPO), which includes a fresh issue of \u20b9684.25 crore and an offer-for-sale of \u20b9568.4 crore by promoters. The IPO was offered within a price range of \u20b9380 to \u20b9401 per share and received a subscription rate of 13.78 times during the bidding window from August 1 to August 5.<\/p>\n
The initial public offer saw substantial interest from qualified institutional buyers, who subscribed 31.5 times their allotted quota. Non-institutional and retail investors followed, subscribing 14.42 times and 3.77 times their allocated portions, respectively. \u00a0According to Prashanth Tapse, Senior VP of Research at Mehta Equities, Ceigall India is expected to list with a gain of 5-10 per cent above the issue price. Amit Goel, co-founder and chief global strategist at Pace 360, anticipates a listing price between \u20b9425 and \u20b9430 per share, reflecting a gain of around 6 per cent.<\/p>\n
Based in Ludhiana, Ceigall India specializes in structural projects, including elevated roads, bridges, and tunnels. For fiscal 2024, the company reported a significant profit increase of 82 per cent, reaching \u20b9304.3 crores, while revenue grew by 46.5 per cent to \u20b93,029.4 crore. The company currently has 18 ongoing projects, with a substantial order book of \u20b99,470.8 crore.<\/p>\n","protected":false},"excerpt":{"rendered":"
Ceigall India\u2019s IPO was heavily oversubscribed, with qualified institutional buyers leading the way. Analysts forecast a moderate listing gain, projecting an initial premium of about 5-10 percent over the issue price.<\/p>\n","protected":false},"author":415,"featured_media":29327,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[16202,16688,6266,16697,3228,16699,16698,16701,16700,6265],"class_list":["post-29313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india","tag-ceigall-india-ipo","tag-equity-shares","tag-grey-market-premium","tag-infrastructure-company","tag-infrastructure-projects","tag-investment-analysis","tag-ipo-listing-day","tag-ipo-subscription-rates","tag-market-expectations","tag-stock-market-debut"],"reading_time":"2 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/posts\/29313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/users\/415"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/comments?post=29313"}],"version-history":[{"count":0,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/posts\/29313\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/media\/29327"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/media?parent=29313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/categories?post=29313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/asia\/wp-json\/wp\/v2\/tags?post=29313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}