Ceigall India IPO - Valuation, Financials, Risks, Concerns, Peer Comparison And More: Motilal Oswal

Motilal Oswal Report

Over the last two decades, Ceigall India Ltd. has transitioned from a small construction company to an established EPC player. It recently acquired a 50% stake in R.K Infra, which will benefit company in terms of project execution capabilities and bidding credentials for future projects.

The IPO is reasonably priced at 23 times FY24 P/E (on diluted basis). We believe with government’s focus on infrastructure, Ceigall is poised to benefit. Recommend Subscribe.

Ceigall India Ltd. launched its initial public offering today and the offer will close on Aug. 05. The company has set a price band of Rs 380-401 per share, with a face value of Rs 5 each. The minimum lot size for bidding will be 37 shares.

The Rs. 1253 crore IPO comprises of fresh issue of 1.71 crore shares aggregating to Rs 684.25 crore and an offer-for-sale of 1.42 crore shares aggregating to Rs 568.41 crore by promoters and investor selling shareholder.

The proceeds from the fresh issue will be used for repayment of debt, capex, investment in subsidiary and general corporate purpose.

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