Ceigall India Limited is an infrastructure construction company with expertise in specialized structural projects, including elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways, and runways.
By July 2024, the company completed over 34 road and highway projects. These projects include project 16 EPC, one HAM project, five O&M projects, and 12 Item Rate Projects.
The company has 18 ongoing projects, including 13 EPC projects and five HAM projects. These involve elevated corridors, bridges, flyovers, rail over-bridges, tunnels, expressways, runways, metro projects, and multi-lane highways.
As of March 31, 2024, the company has 1,488.17 lane kilometers of ongoing projects and has completed 2,158.72 lane kilometers of O&M projects.
The company specializes in the construction, development, and execution of major multi-lane highway projects with specialized structures in various states of India, including Punjab, Haryana, Rajasthan, Uttar Pradesh, Himachal Pradesh, Jammu and Kashmir, Jharkhand, Delhi, Maharashtra, and Bihar.
Ceigall India Limited won the “Gold Award” at the National Highways Excellence Award, 2020 for the Khemkaran-Amritsar Project. They also received the “Special Award” at the National Highways Excellence Awards, 2021 for the Ramdas Gurdaspur Project, including the Kartarpur Sahib Project.
The company’s Order Book as of June 30, 2024, and for the fiscal years 2024, 2023, and 2022, were ₹94,708.42 million, ₹92,257.78 million, ₹108,090.43 million, and ₹63,461.30 million, respectively.
The company has recently completed several key projects, including widening a road in Punjab, constructing the Kartarpur-Sahib Project, and finishing an elevated corridor portion for the Delhi-Saharanpur Project.
As of March 31, 2024, the company has 2,256 permanent employees.
Ceigall India IPO – Details
| IPO Opening Date | 01 August 2024 |
| IPO Closing Date | 05 August 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 3,12,38,481 Shares Worth ₹1252.66 Crore Fresh Issue: 1,70,63,641 Shares Worth ₹684.25 Crore Offer For Sale: 1,41,74,840 Shares Worth ₹568.41 Crore |
| Face Value | ₹5 per equity share |
| IPO Price | ₹380 – ₹401 per share |
| Market Lot | 37 Shares |
| Min Order | 37 Shares (1 Lot) |
| Employee Discount | ₹38 |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Ceigall India IPO – Date Schedule
| IPO Open Date | 01 August 2024 |
| IPO Close Date | 05 August 2024 |
| Basis of Allotment | 06 August 2024 |
| Initiation of Refund | 07 August 2024 |
| Credit of Shares to Demat Account | 07 August 2024 |
| IPO Listing Date | 08 August 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 05, 2024 |
Ceigall India IPO – Lots Size & Price
| 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 |
Competitive Strengths
- One of the fastest growing EPC companies with an experience in executing specialized structures.
- Healthy orderbook giving long term revenue visibility.
- Demonstrated project development, execution and operational capabilities.
- Efficient business model.
- Experienced management team.
Company Promoters
- Ramneek Sehgal
- Ramneek Sehgal
- Sons HUF
- RS Family Trust
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | 1146.50 | 977.03 | 126.43 | 652.12 |
| 31 March 2023 | 2087.04 | 1861.85 | 167.70 | 1,252.58 |
| 31 March 2024 | 3066.18 | 2660.83 | 304.90 | 1,811.02 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 33.57% |
| ROCE | 31.98% |
| Debt/Equity | 1.17 |
| RoNW | 33.57% |
| P/BV | 6.95 |
| PAT Margin (%) | 10.05 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 19.4 | 17.5 |
| P/E (x) | 20.67 | 22.91 |
Object Of The Issue
- Purchase of equipment;
- Repayment/ prepayment, in full or in part, of certain borrowings availed by:
- The Company; and
- The Subsidiary, Ceigall Infra Projects Private Limited.
Ceigall India IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 2 | PNC Infratech Limited | 14.75 |
| 2 | 5 | G R Infraprojects Limited | 12.60 |
| 3 | 10 | H.G. Infra Engineering Limited | 20.43 |
| 4 | 2 | KNR Constructions Limited | 13.17 |
| 5 | 1 | ITD Cementation India Limited | 29.39 |
| 6 | 5 | J Kumar Infraprojects Limited | 19.68 |
Ceigall India IPO Promoter Holding
| Pre Issue Share Holding | 99.99% |
| Post Issue Share Holding | 82.06% |
Ceigall India IPO Prospectus
Company Contact Information
| Ceigall India Limited A-898, Tagore Nagar Ludhiana – 141 001 Phone: +91 161 4623666 Email: secretarial@ceigall.com Website: https://www.ceigall.com/ |
Ceigall India IPO Registrar
| Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: ceigall.ipo@linkintime.co.in Website: https://linkintime.co.in/initial_offer/public-issues.html |
Ceigall India IPO Lead Manager(s)
| 1. ICICI Securities Limited 2. IIFL Securities Limited 3. JM Financial Limited |
Ceigall India IPO FAQs
| What is Ceigall India IPO? Ceigall India IPO is a main-board IPO. The issue is priced at ₹380 to ₹401 per equity share. The IPO is to be listed on BSE & NSE. |
| When Ceigall India IPO will open? The IPO is to open on 01 August 2024 for QIB, NII, and Retail Investors. |
| What is Ceigall India IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Ceigall India IPO? You can apply Ceigall India IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Ceigall India IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Ceigall India IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Ceigall India IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Ceigall India IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Ceigall India IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Ceigall India IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Ceigall India IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Ceigall India IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Ceigall India IPO Size? Ceigall India IPO size is ₹1252.66 Crore. |
| What is Ceigall India IPO Price Band? Ceigall India IPO Price Band is ₹380 to ₹401. |
| What is Ceigall India IPO Minimum and Maximum Lot Size for retail? The minimum bid is 37 Shares with ₹14,837 amount while the maximum bid is 481 Shares with ₹1,92,881. |
| What is the Ceigall India IPO Allotment Date? Ceigall India IPO allotment date is 06 August 2024. |
| What is the Ceigall India IPO Listing Date? Ceigall India IPO listing date is 08 August 2024. The IPO is to be listed on BSE and NSE. |
