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Ceigall India IPO
Price Band
₹380.0–401.0
Issue Size
₹1252.66 Cr
Lot Size
37 shares
Min Investment
₹14,837
GMP
+₹17.5 (4.36%)
Issue Price
₹401.0
Subject to Sauda
₹500
Paid only if allotted
Ceigall India IPO AI Summary
- Ceigall India IPO is listed on BSE, NSE in the Civil Construction sector.
- Price band: ₹380.0–₹401.0 per share, lot size 37 shares (min. investment ₹14,837).
- Subscription window: 01 Aug–05 Aug 2024, listing on 08 Aug 2024.
- Current GMP is +₹17.5 (4.36%), an estimated listing price of ₹419 — unofficial and can change daily.
Ceigall India Limited is an established player in the civil construction sector with a solid track record of project execution and profitability. The upcoming IPO offers investors an opportunity to participate in the company's growth, backed by its ongoing projects and strong order book.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Ceigall India IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 05 Aug 2024 — not a current signal.
15 of 19 reviewers say Positive
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Ceigall India IPO Grey Market Premium (GMP) Today
GMP
+₹17.5
GMP %
+4.36%
Est. Listing
₹418.5
Updated: 25 Jul 2026 14:04
About the Company
Founded in 2002, Ceigall India Limited is an infrastructure construction company with expertise in specialized structural projects, including elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways, and runways. By July 2024, the company completed over 34 road and highway projects. These projects include project 16 EPC, one HAM project, five O&M projects, and 12 Item Rate Projects. The company has 18 ongoing projects, including 13 EPC projects and five HAM projects. These involve elevated corridors, bridges, flyovers, rail over-bridges, tunnels, expressways, runways, metro projects, and multi-lane highways. As of March 31, 2024, the company has 1,488.17 lane kilometers of ongoing projects and has completed 2,158.72 lane kilometers of O&M projects. The company specializes in the construction, development, and execution of major multi-lane highway projects with specialized structures in various states of India, including Punjab, Haryana, Rajasthan, Uttar Pradesh, Himachal Pradesh, Jammu and Kashmir, Jharkhand, Delhi, Maharashtra, and Bihar. Ceigall India Limited won the "Gold Award" at the National Highways Excellence Award, 2020 for the Khemkaran-Amritsar Project. They also received the "Special Award" at the National Highways Excellence Awards, 2021 for the Ramdas Gurdaspur Project, including the Kartarpur Sahib Project. The company's Order Book as of June 30, 2024, and for the fiscal years 2024, 2023, and 2022, were ₹94,708.42 million, ₹92,257.78 million, ₹108,090.43 million, and ₹63,461.30 million, respectively. The company has recently completed several key projects, including widening a road in Punjab, constructing the Kartarpur-Sahib Project, and finishing an elevated corridor portion for the Delhi-Saharanpur Project. As of March 31, 2024, the company has 2,256 permanent employees
Company Financials (₹ Cr)
As of 2024-03-31
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 2,592.19 | 1,827.82 | 959.14 |
| Total Income | 3,066.19 | 2,087.04 | 1,146.50 |
| Profit After Tax | 304.91 | 167.70 | 126.43 |
| NET Worth | 906.41 | 593.06 | 431.25 |
| Total Borrowing | 1,811.02 | 1,252.58 | 652.12 |
Key Ratios
EPS
₹19.40
NAV
₹57.68
ROE
33.57%
ROCE
31.98%
RoNW
33.57%
P/B Value
6.95
P/E Ratio
20.67
Market Cap
₹6985.41 Cr
PAT Margin
10.05%
Debt/Equity
1.17
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| J Kumar Infraprojects Limited | 349.44 | 12.51% | 19.68 | 43.71 | 43.71 |
| Itd Cementation India Ltd. | 87.21 | 18.3% | 29.39 | 15.93 | 15.93 |
| Knr Constructions Ltd. | 124.37 | 21.51% | 13.17 | 27.64 | 27.64 |
| H.g. Infra Engineering Ltd | 376.71 | 21.94% | 20.43 | 82.64 | 82.64 |
| G R Infraprojects Limited | 786.27 | 17.4% | 12.6 | 136.9 | 136.87 |
| Pnc Infratech Ltd | 202.11 | 17.54% | 14.75 | 35.45 | 35.45 |
| Ceigall India Limited This IPO | 57.68 | 33.57% | — | 19.37 | 19.37 |
Promoters
Ramneek Sehgal & Sons (HUF) and RS Family Trust
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Purchase of equipment 99.79 2 Repayment/ prepayment, in full or in part, of certain borrowings availed by our company 384.57 3 Repayment/ prepayment, in full or in part, of certain borrowings availed by our subsidiary - Ceigall Infra Projects Private Limited 28.83 4 General corporate purposes 139.12
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total Income was ₹1,146.50 Cr in 31 Mar 2022, increasing to ₹2,087.04 Cr by 31 Mar 2023, and further rising to ₹3,066.19 Cr by 31 Mar 2024. This demonstrates a consistent upward trend in revenue over the periods analyzed.
Profit Trend
Profit After Tax was ₹126.43 Cr in 31 Mar 2022, rising to ₹167.70 Cr by 31 Mar 2023, and further increasing to ₹304.91 Cr by 31 Mar 2024. This indicates a significant growth in profitability across the reported periods.
Valuation
Priced at roughly 20.67 trailing earnings, versus peers trading at P/E ratios ranging from 12.6 to 29.39.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on unofficial trading. A positive GMP suggests that the IPO may list at a higher price than the issue price, while a negative GMP indicates the opposite. However, GMP is not a guaranteed indicator of actual listing performance.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance. It's important to consider the company's growth potential and the sector's performance.
Who May Want to Wait
Investors who prefer stable, low-risk investments may want to avoid IPOs like this, which can be subject to market fluctuations and uncertainties in the construction sector.
Listing Gains — The Risk
Listing-day gains can be unpredictable and depend on various factors such as market conditions and investor sentiment. While some IPOs may see a surge in price on their listing day, others may not perform as expected, leading to potential losses.
This evaluation is generated from Ceigall India's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Ceigall India IPO GMP today?
Ceigall India IPO GMP today is +₹17.5 (4.36%), indicating an estimated listing price of ₹419. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Ceigall India IPO?
The price band of Ceigall India IPO is ₹380.0–₹401.0 per share.
When does Ceigall India IPO open and close?
Ceigall India IPO opens on 01 August 2024 and closes on 05 August 2024.
When does Ceigall India IPO list on the stock exchange?
Ceigall India IPO listed on 08 August 2024 at ₹418.5.
What is the lot size for Ceigall India IPO?
The lot size for Ceigall India IPO is 37 shares, requiring a minimum investment of ₹14,837.
What is the lot size for this IPO?
The lot size for Ceigall India Limited's IPO is 37 shares.
What is the minimum investment required?
The minimum investment required is ₹14,837.
What is the price band for the IPO?
The price band for the IPO is ₹380.0 to ₹401.0.
When does the IPO open and close?
The IPO opens on August 1, 2024, and closes on August 5, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
01 Aug 2024
Close
05 Aug 2024
Allotment
06 Aug 2024
Listing
08 Aug 2024
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