Ceigall India's IPO Skyrockets with 13.75 Times Subscription

Ceigall India's IPO, valued at Rs 1,252.66 crore, saw a 13.75 times subscription, with significant interest from institutional and retail investors. The proceeds will be used for equipment purchases, debt repayment, and general corporate purposes. The company specializes in infrastructure construction and has a strong order book of Rs 9,470 crore.

Ceigall India's initial public offer (IPO) has been met with overwhelming demand, being subscribed 13.75 times on its final day of sale. According to NSE data, the infrastructure company's Rs 1,252.66-crore IPO received bids for 30,68,91,912 shares, substantially surpassing the 2,23,13,663 shares on offer.

The portion allocated for Qualified Institutional Buyers (QIBs) received 31.50 times subscription, while non-institutional investors saw a 14.40 times subscription rate. Retail Individual Investors (RIIs) also showed significant interest, with their portion garnering 3.72 times subscription.

Proceeds from the IPO will be allocated towards purchasing equipment, debt repayment, and general corporate purposes. Founded in 2002, Ceigall India is renowned for its expertise in constructing elevated roads, bridges, tunnels, highways, and runways. The equity shares will be listed on both BSE and NSE.