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CEIGALL INDIA IPO

IPO Details

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37 Shares
₹ 14837
₹ 380 – 401
₹ Up to 1252.66 Cr

Tentative Issue timeline

  • -
  • 06-Aug-2024
  • 07-Aug-2024
  • 07-Aug-2024
  • 08-Aug-2024

Subscription Status

Shareholder -
Qualified Institutional Buyers -
Non-Institutional Investor -
Retail Individual Investor -
Employee -
Total -

About Company

- An infrastructure construction company with experience in undertaking specialized structural work such as elevated roads, flyovers, bridges, railway over bridges, tunnels, highways, expressways and runways
- One of the fastest growing engineering, procurement and construction (“EPC”) company in terms of three-year revenue CAGR as of Fiscal 2024
- Have achieved one of the highest year-on-year revenue growth of approximately 43.10% in Fiscal 2024 among the peers

Strengths & Risks

Strengths (3)

One of the fastest growing EPC company with an experience in executing specialised structures

They are one of the fastest growing engineering, procurement and construction (“EPC”) company in terms of threeyear revenue CAGR as of Fiscal 2024, among the companies with a turnover of over ₹ 10,000 million in Fiscal 2024.They have grown at a CAGR of 50.13% between FY21 to FY24. (Source: CARE Report)

Risks (2)

Business is primarily dependent on contracts awarded by governmental authorities

As on June 30, 2024, the NHAI projects awarded to them constituted 80.31% of order book, while the remaining 19.69% of Order Book was from contracts with other central, state governmental and local departments. Such concentration on a few projects or customers may have an adverse effect on results of operations and result in a significant reduction in the award of contracts which could also adversely affect business if they do not achieve expected margins or suffer losses on one or more of these large contracts, from such customers. (Source: Company RHP

  • One of the fastest growing EPC company with an experience in executing specialised structures

    They are one of the fastest growing engineering, procurement and construction (“EPC”) company in terms of threeyear revenue CAGR as of Fiscal 2024, among the companies with a turnover of over ₹ 10,000 million in Fiscal 2024.They have grown at a CAGR of 50.13% between FY21 to FY24. (Source: CARE Report)

  • Healthy orderbook giving long term revenue visibility

    Diversifying their skill set and Order Book across different business and geographical regions, enables them to pursue a broader range of project tenders and therefore maximize their business volume and profit margins. The consistent growth in their Order Book is a result of their past experience, their focus on maintaining quality standards in their construction and project execution skills (Source: CARE Report)

  • Demonstrated project development, execution and operational capabilities

    As on the date of this Red Herring Prospectus, the company has completed over 34 projects, including 16 EPC, one HAM, five O&M and 12 Item Rate Projects, in the roads and highways sector. Currently, the company has 18 ongoing projects, including 13 EPC projects and five HAM projects which includes elevated corridors, bridges, flyovers, rail over-bridges, tunnels,expressway, runway, metro project and multi-lane highways (Source: Company RHP).

  • Business is primarily dependent on contracts awarded by governmental authorities

    As on June 30, 2024, the NHAI projects awarded to them constituted 80.31% of order book, while the remaining 19.69% of Order Book was from contracts with other central, state governmental and local departments. Such concentration on a few projects or customers may have an adverse effect on results of operations and result in a significant reduction in the award of contracts which could also adversely affect business if they do not achieve expected margins or suffer losses on one or more of these large contracts, from such customers. (Source: Company RHP

  • May experience earnings declines or operating losses or negative cash flows from operating activities in the future

    They have sustained negative cash flow used in operating activities for the Fiscals 2024, 2023 and 2022 attributable to decrease in trade receivables, increase in non-current provisions, increase in other current financial liabilities and increase in other current liabilities. There can be no assurances that cash flows will be positive in the future thereby creating an adverse impact on our ability to meet working capital expenditure, repay loans without raising finance from external resources(Source: Company RHP)

Financials

Net Worth
Total Borrowings
Profit for the Year
Earning Per Share

Industry Overview

- Continued High Investment Momentum in Indian Key Infrastructure Sectors : In recent years, the government has taken several steps to accelerate infrastructure development, wherein, the key focus areas are transportation, energy, smart cities, water, social infrastructure, and digital infrastructure. National and state-level agencies like the National Highways Authority of India (NHAI),state-level bodies, and private sector companies (both domestic and international), are actively participating in
infrastructure development

- Huge Opportunity for EPC Companies in the O&M(Operations & Maintainence) Space: In the initial 10 months of FY24, NHAI has authorized O&M-related projects worth Rs. 77.21 billion through various tenders. Coupled with the Asset Monetization Program, this presents a significant opportunity for EPC companies in the forthcoming years. Furthermore, the government's emphasis on sustained infrastructural development serves as a pivotal driving force for this sector

Ceigall India IPO FAQs

What is the objective of Ceigall India IPO?

The objective of Ceigall India IPO are for

  1. Purchase of equipment
  2. Repayment/ prepayment, in full or in part, of certain borrowings availed by: a)The Company; and b)The Subsidiary, Ceigall Infra Projects Private Limited

The lot size is 37 shares and minimum investment required is Rs.14,837 for Ceigall India IPO

Ceigall India IPO is mainboard IPO of issue size up to Rs.1252.66 Crores

Ceigall India IPO issue dates are from 1st – 5th Aug, 2024

The allotment date is 6th Aug, 2024 and listing date is 8th Aug, 2024 for Ceigall India IPO.

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Ceigall India IPO

₹ 14837
37 Shares

Subscription Status

Shareholder -
Qualified Institutional Buyers -
Non-Institutional Investor -
Retail Individual Investor -
Employee -
Total -

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*The financials mentioned above are sourced from DRHP/ RHP documents.

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