Ceigall India Shares Debut with 4.50% Premium on Market

Shares of Ceigall India Ltd, an infrastructure company, premiered on the market with nearly a 4.50% premium over the issue price of Rs 401. The stock began trading at Rs 413 on the BSE and later rose to Rs 425. The public offer was subscribed 13.75 times.

Shares of infrastructure company Ceigall India Ltd premiered on Thursday with a significant premium of nearly 4.50 per cent against the issue price of Rs 401.

The stock began trading at Rs 413 on the BSE, demonstrating a gain of 2.99 per cent from the issue price. It later soared to Rs 425, marking a 5.98 per cent jump.

On the NSE, the shares listed at Rs 419, reflecting a 4.48 per cent increase. The company's market valuation rose to Rs 7,107.56 crore.

Ceigall India's initial public offer received substantial interest, being subscribed 13.75 times on the final day.

The Rs 1,252.66-crore IPO combined a fresh issue of Rs 684.25 crore and an offer-for-sale of 1.42 crore equity shares worth Rs 568.41 crore by the promoters and an individual shareholder, at the top end of the price range of Rs 380-401 per share.

Fund allocation from the fresh issue includes purchasing equipment, debt repayment, and general corporate purposes.

Founded in 2002, Ceigall India specializes in infrastructure construction, including structural projects like elevated roads, flyovers, bridges, and highways, with clientele in public sector entities.

(With inputs from agencies.)