Ceigall India Limited raises Rs. 375.20 crore from Anchor Investors

Mumbai, July 31, 2024: 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 garnered Rs. 375.20 crores from anchor investors ahead of its initial public offering that opens for public subscription on Thursday, August 1, 2024. The company informed the bourses that it allocated 93,56,581 equity shares at Rs. 401 per share on Wednesday, July 31, 2024, to anchor investors.

Foreign and Domestic Institutions who participated in the anchor were Nomura Funds Ireland Public Ltd – India Equity Fund, ICICI Prudential Flexicap Fund, HDFC Smallcap Fund, HDFC Trustee Company Ltd, Nippon Life India Smallcap Fund, Kotak Infrastructure & Economic Reform Fund, Axis Mutual Fund, Bandhan Infrastructure Fund, SBI General Insurance Company, Nataxis International Fund, Carmignac Portfolio, Goldman Sachs (Singapore) PTE- ODI, Tata Multicap Fund, Tata Dividend Yield Fund, ICICI Prudential Life Insurance Company Ltd, Bajaj Allianz Life Insurance Company Ltd, Max Life Insurance Ltd, Edelweiss Trusteeship Co. Ltd. Bank of India Manufacturing & Infrastructure Fund, Universal Sompo General Insurance Company Ltd, Hero Venture Trust, Integrated Core Strategies(Asia) PTE., Ltd. Societe Generale, Morgan Stanley Asia (Singapore) PTE., Citigroup Global Markets Mauritius Pvt. Ltd..

Out of the total allocation of 93,56,581 equity shares to the anchor investors, 50,89,727 equity shares were allocated to 9 domestic mutual funds through a total of 13 schemes amounting to Rs. 204.10 crore (approx.) i.e. 54.40% of the Total Anchor Book Size.

ICICI Securities Limited, IIFL Securities Limited, and JM Financial Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.

IPO Details

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 Company is proposing to open its initial public offering of Equity Shares (the “Offer”) on Thursday, August 1, 2024, and closes on Monday, August 5, 2024. The price band for the Offer has been determined at Rs 380 – Rs 401 per equity share.

The IPO will fetch Rs 1,252.66 crore at the upper end of the price band.

Investors can bid for a minimum of 37 equity shares and in multiples of 37 equity shares thereafter.

BSE Link: https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20240731-46

The Offer is being made through the Book Building Process, wherein not more than 50% of the net offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the net offer shall be available for allocation to Non-Institutional Investors and not less than 35% of the net offer shall be available for allocation to Retail Individual Investors.