Day 1 of Ceigall India IPO: GMP, review, subscription status, and more information. Should I apply or not?
Ceigall India IPO: Today, Ceigall India Limited’s initial public offering (IPO) was released to the Indian primary market. The public issue will be available until Monday, August 5, 2024, which is the following week. The Ceigall India IPO pricing range has been set by the infrastructure building company at ₹380 to ₹401 per equity share. In an effort to generate ₹1,252.66 crore, the book build issue is being proposed for listing on the BSE and NSE. The business intends to raise ₹684.25 crore of these ₹1,252.66 crore through the issuance of new shares, with the remaining ₹568.41 crore set aside for the offer for sale (OFS) method. Ahead of its subscription opening, shares of Ceigall India Limited are now accessible on the black market. Observers of the stock market claim that, In today’s grey market, Ceigall India shares are trading at a premium of ₹70.
Status of Ceigall India’s IPO subscription
The retail portion of the mainboard IPO had been filled 0.34 times, the NII portion of the book build issue had been subscribed 0.30 times, and the public issue had been subscribed 0.24 times by 11:12 PM on the first day of bidding.
Key information on the Ceigall India IPO
1. Ceigall India IPO GMP: Stock market watchers report that shares of Ceigall India are currently trading in the gray market at a premium of ₹70.
2. Ceigall India IPO price: The company’s public offering would be priced between ₹380 and ₹401 for each equity share.
3. Date of Ceigall India IPO subscription: The offering began today and will run through August 5, 2024.
4. Ceigall India’s initial public offering (IPO) target: ₹1,252.66 crore. It plans to raise ₹684.25 crore of this amount through the issuance of new shares; the remaining ₹568.41 crore is set aside for the OFS route.
5. Ceigall India IPO lot size: 37 firm shares make up one lot of the public offering, which bidders may submit in lots.
6. Ceigall India IPO allotment date: Tuesday of next week, August 6, 2024, is the tentative date for share allocation.
7. Link Intime India: Private Limited has been designated as the official registrar of the book build issue for the Ceigall India IPO.
8. Ceigall India IPO listing: BSE and NSE are considering listing the book build issue.
9. Ceigall India IPO listing date: August 8, 2024 is the tentative date for the Ceigall India IPO listing, after the implementation of the ‘T+3’ listing regulation.
Ceigall India IPO: Should I apply?
Reviewing the Ceigall India IPO, Amit Goel, Co-Founder & Chief Global Strategist at Pace 360, added a’subscribe’ tag to the book build issue and stated, “Ceigall India Ltd is in the business of infrastructure and construction, specializing in structural projects such as elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways, and runways.” has has emerged as NHAI’s preferred partner for projects, and has most recently collaborated with Delhi Metro on the development of rail infrastructure.
Its top and bottom lines have grown at an excellent CAGR during the decades. The issue seems to be priced aggressively in relation to FY24 profits. Furthermore, considering the volume of orders and the order book at hand, it is a strictly long–term move.
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