Ceigall India IPO: Infra firm raises ₹375 crore from anchor investors ahead of public issue

Infrastructure construction company Ceigall India, on Wednesday, said it has garnered ₹375.20 crores from anchor investors ahead of its initial public offering that opens for public subscription on Thursday, August 1.

The company informed the bourses that it allocated 93,56,581 equity shares at ₹401 per share on Wednesday, July 31 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 anchor investors, 50,89,727 shares were distributed to 9 domestic mutual funds across 13 schemes, totaling approximately ₹204.10 crore, which represents 54.40% of the Total Anchor Book Size.

ICICI Securities Limited, IIFL Securities Limited, and JM Financial Limited are the lead managers for the offering, while Link Intime India Private Limited is the registrar. The equity shares are planned to be listed on the BSE and NSE.

Ceigall India IPO details

The IPO includes a fresh issue of up to ₹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 Shareholders.

The company plans to launch its initial public offering of equity shares on Thursday, August 1, 2024, and close it on Monday, August 5, 2024. The price band for the Offer is set between ₹380 and ₹401 per equity share.

At the upper end of the price band, the IPO is expected to raise ₹1,252.66 crore.

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

The offer will be conducted through the Book Building Process, with no more than 50% of the net offer allocated to Qualified Institutional Buyers, at least 15% allocated to Non-Institutional Investors, and at least 35% allocated to Retail Individual Investors.