Delhi based EPC Company Ceigall India files DRHP with SEBI for the proposed IPO; Key Details here

Ceigall India is into Infrastructure EPC and is looking raise funds through Fresh Issue and Offer For Sale

Ceigall IndiaIPO: Fresh Issue of Equity shares aggregating up to Rs.617.69 crores. Offer of Sale of 14,285,714 Equity Shares through public issue IPO

Ceigall India IPO: Ceigall India Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 5 per share via initial public offering.

Promoters of Ceigall India are Ramneek Sehgal, Ramneek Sehgal and Sons HUF and RS Family Trust and holds 99.99% stake in the company.

Key Details:

• Initial Public Offer comprising of a Fresh Issue of Equity shares aggregating up to Rs 617.69 Cr and an Offer for Sale of up to 14,285,714 Equity Shares.
• ICICI Securities, IIFL Securities, JM Financial have been appointed as lead merchant bankers for the proposed IPO.
• It has appointed Link Intime India Private Limited as Registrar and Share transfer Agent.
• Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 618 Crs and offer-for-sale (OFS) of up to 14,285,714 equity shares by Promoter Selling Shareholder include Ramneek Sehgal and Ramneek Sehgal and Sons HUF who would offload 4,281,505 and 7,594,950 equity shares respectively. Along with it promoter group selling shareholders include Avneet Luthra, Mohinder Pal Singh Sehgal, Parmjit Sehgal, Simran Sehgal and Kanwaldeep Singh Luthra who will offload 5,030 , 927,154 , 553,274, 922,124 and 1,677 equity shares respectively...

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Objects of the issue:
1) Purchase of equipments - Rs118.78 Cr , 2) Repayment / prepayment of debt - Rs344.5 Cr, and 3) General Corporate Purpose.

About Company:
Established in 2002, Company is primarily infrastructure construction company undertaking specialized structural work such as elevated roads, flyovers, bridges, railway over bridges, tunnels, highways, expressways and runways. Principal business operations are broadly divided into EPC projects and HAM projects, which are spread over ten states in India.

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About Industry:
India stands out as the fastest-growing economy among the major economies with real gross domestic product of ₹ 160.06 trillion in Fiscal 2023 and estimated to emerge as the third-largest economy globally by 2027, infrastructure sector continues to play major role with 3.50% of gross domestic product contribution with ₹ 52,962.00 billion investments in Infrastructure industry between Fiscal 2024 to Fiscal 2028. Road construction is amongst the critical sub-segments for infrastructure development, economic growth, and employment creation. Key growth drivers for infrastructure sector are rapid urbanisation, higher budgetary outlay towards infrastructure, smart cities mission. The key challenges in the infrastructure sector are regulatory and policy risks, funding challenges, land acquisition and environmental clearances. (Source: CARE Report)

Source: SEBI, BSE, NSE, DRHP, Ceigall India, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.