Allotment of Ceigall India IPO is anticipated today.
The IPO of Ceigall India Limited was bid on 13.75 times on the last day of the auction on August 5. The IPO of the Ludhiana-based company comprises an Offer-for-Sale (OFS) of up to 1.42 crore equity shares valued at up to ₹568.41 crore, in addition to a new issue of ₹684.25 crore.
On Tuesday, August 6, infrastructure company Ceigall India Ltd is anticipated to confirm the share allotment status.
At the closing of bidding on Monday, August 5, the IPO valued at ₹1,252.6 crore had been reserved more than 14 times. On August 1, subscriptions for the issuance became available on the NSE and BSE.
The business was incorporated in July of 2002.
We began the trip with one of our first road projects, which we completed for the Punjab Public Works Department’s Ludhiana division. The project was granted in 2006, totaling ₹62.94 million for 20.42 lane kilometers. The NHAI awarded us the first four-lane highway EPC project in 2014, spanning 24.08 lane kilometers.
In the roads and highways industry, our company has completed over 34 projects, including 16 EPC, 1 HAM, 5 O&M, and 12 item rate projects.
As of right now, our company is working on eighteen active projects, consisting of five HAM projects and thirteen EPC projects. These projects include tunnels, bridges, flyovers, elevated corridors, expressways, runways, metro projects, and multi-lane highways.
Ceigall has a track record of finishing projects earlier than expected. As of right now, Ceigall has finished seven of the sixteen EPC projects ahead of time.
As of March 31, 2024, we had built more than 1,739.88 lane kilometers of highways and roads, in addition to specialized infrastructure like flyovers, bridges, elevated roads, tunnels, railroad overpasses, expressways, and runways. We have 1,488.17 lane kilometers of ongoing projects as of March 31, 2024. We have finished 2,158.72 lane kilometers of O&M projects as of March 31, 2024.
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The investors who took part in the bidding procedure are currently awaiting the share allotment status of Ceigall India IPO. The share allotment status can be conveniently accessed by applicants via the official websites of BSE, NSE, and the IPO registrar, Link Intime India Pvt Ltd.
In the process of building, developing, and completing significant multi-lane highway projects with specialized structures, we have expanded our geographic reach throughout several Indian states, including Punjab, Haryana, Rajasthan, Uttar Pradesh, Himachal Pradesh, Jammu and Kashmir, Jharkhand, Delhi, Maharashtra, and Bihar.
In Fiscal 2022, our initiatives were distributed across six states; by Fiscal 2024, however, we have grown to ten states.
With over 20 years of experience in the building sector, Ramneek Sehgal is our individual promoter and managing director.
We employ more than 2256 people in total between our management and operating teams, which are both highly effective.
The status of the share allocation will be accessible on these websites once the company has finalized the share allocation.
To find out Ceigall India Ltd.’s IPO share allotment status, follow these procedures.
The two primary business segments of Ceigall India are hybrid annuity model (HAM) projects and engineering-procurement (EPC) projects. Over the years, the company’s execution capabilities have progressively improved. CIL has advanced to managing far larger projects since taking on its first road project for the Punjab Public Works Department in 2006, which had an overall project cost of ₹6.29 crore for 20.42 lane km. The company is qualified to compete on individual NHAI EPC projects up to ₹5700 crore and individual NHAI HAM projects up to ₹5500 crore as of the date of the Red Herring Prospectus.
With a growth from ₹1,597.33 million in Fiscal 2021 to ₹2,956.29 million in Fiscal 2023, the company’s EBITDA has also shown strength. Though it slightly decreased from 18.29% in Fiscal 2021 to 14.29% in Fiscal 2023, the EBITDA margin increased to 16.94% for the nine months that ended on December 31, 2023.
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