New Delhi: Ceigall India Ltd's shares debuted on Thursday with a premium of almost 4.50 percent compared to the Rs 401 issue price. The stock commenced trading at Rs 413 on the BSE, showing a 2.99 pc increase from the issue price. Afterwards, it increased by 5.98 pc and reached Rs 425. It was listed on the NSE at Rs 419, showing a 4.48 percent increase.
The company was valued at Rs 7,107.56 crore in the market. Ceigall India's IPO was subscribed 13.75 times on Monday, the final day of the share sale. The Rs 1,252.66-crore IPO included a new share sale of Rs 684.25 crore and an offer-for-sale (OFS) of up to 1.42 crore equity shares valued at Rs 568.41 crore by the promoters and a single shareholder.
The price bracket for the deal ranged from Rs 380 to Rs 401 per share. The funds raised from the new offering will be allocated towards buying equipment, settling debts, and for general corporate expenses. Established in 2002, Ceigall India is a construction firm specializing in infrastructure projects like elevated roads, bridges, tunnels, and highways.
Public sector entities such as Indian Railway Construction International Ltd, Military Engineer Services, and Bihar State Road Development Corporation Ltd are among its client base.
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