Shares of Ceigall India Ltd. closed on the BSE on Thursday at Rs 388 apiece, a discount of 4% over the issue price of Rs 401. The stock closed at Rs 387.80 per share on National Stock Exchange, a discount of 3.29%.
The initial public offering was subscribed 13.75 times on its third day, led by institutional investors. The IPO consisted of fresh issue of equity shares worth Rs 684.3 crore and an offer for sale of 1.42 crore shares by promoters and an existing investor.
About Ceigall India
The infrastructure construction company specialises in infrastructure construction, focusing on structural projects like elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways and runways.
Ceigall is currently managing 18 projects, including metro projects and multi-lane highways. As of June, the company's order book amounted to Rs 9,470.8 crore. Projects awarded by the National Highways Authority of India contributed 80.31% to its order book.
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