In conversation with Mr Ramneek Sehgal, Managing Director ,Ceigall
Ceigall India Limited’s Initial Public Offering to open on Thursday, August 1, 2024, price band set at ₹380/- to ₹401/- per Equity Share.
Ceigall India Limited, an infrastructure construction company, having completed over 34 projects across ten states in India with experience in undertaking specialized structural work such as elevated roads, flyovers, bridges, railway over bridges, tunnels, highways, metros, expressways and runways, has fixed the price band of ₹380/- to ₹401/- per Equity Share of face value ₹5/- each for its maiden initial public offer. The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Thursday, August 1, 2024, for subscription and close on Monday, August 5, 2024. Investors can bid for a minimum of 37 Equity Shares and in multiples of 37 Equity Shares thereafter.
The IPO consists of fresh issue of up to Rs 6,842.52 million and an offer for sale (OFS) of up to 1,41,74,840 equity shares by Promoter Selling Shareholders and Individual Selling Shareholder.
The proceeds from the fresh issue, to the extent of Rs 997.89 million will be used for purchase of equipment; Rs 4,134 million for repayment/ prepayment, in full or in part, of certain borrowings availed by the Company and its Subsidiary, CIPPL; and General corporate purposes.
Ceigall India is one of the fastest growing engineering, procurement and construction (“EPC”) company in terms of three-year revenue CAGR as of Fiscal 2024, among the companies with a turnover of over ₹ 10,000 million in Fiscal 2024 with over 20 years of experience in the industry. The Company has one of the highest year-on-year revenue growth of approximately 43.10% in Fiscal 2024 among its peers.
The Company has grown at a CAGR of 50.13% between Fiscals 2022 to 2024. Over the last two decades, the Company has transitioned from a small construction company to an established EPC player, demonstrating expertise in the design and construction of various road and highway projects including specialised structures across 10 states in India, according to a CARE Report.
The Ludhiana-based Company's principal business operations are broadly divided into EPC projects and hybrid annuity model (“HAM”) projects, spread across over ten states in India. As on June 30, 2024, the Company's Order Book was ₹ 94,708.42 million. CEIGALL INDIA LIMITED @RamneekSehgal #Ipo #IpoAlert #Ceigall #Sustainability #Solar #solarprojects