Ceigall India IPO opens today: Should you subscribe to the issue?
The Rs 1,252.66 crore-IPO of Ceigall India opens for bidding today as the infra player is offering its shares in the range of Rs 380-401 apiece, with a lot size of 37 equity shares and its multiples.
- Aug 1, 2024,
- Updated Aug 1, 2024 10:04 AM IST
Ceigall India's initial public offering (IPO) opens for bidding today, that is, Thursday, August 01 and the issue can be subscribed until Monday, August 05. The infra player is offering its shares in the range of Rs 380-401 apiece, where investors can bid for a minimum of 37 equity shares and its multiples thereafter. Ceigall India's financial performance is driven by its continued focus on road projects and specialized structures, ability to successfully bid and win new projects, efficient business model, consistent growth in order book and preferred partner for NHAI projects, said StoxBox in its IPO note.
"The company has recently joined hands with Delhi Metro for rail infra developments, which enables it to tap significant opportunities. The issue is valued at a P/E of 20.7 times on the upper price band based on FY24 earnings, which is deemed fair. Therefore, we recommend a 'subscribe' rating for the issue," it said.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Ceigall India's initial public offering (IPO) opens for bidding today, that is, Thursday, August 01 and the issue can be subscribed until Monday, August 05. The infra player is offering its shares in the range of Rs 380-401 apiece, where investors can bid for a minimum of 37 equity shares and its multiples thereafter. Ceigall India's financial performance is driven by its continued focus on road projects and specialized structures, ability to successfully bid and win new projects, efficient business model, consistent growth in order book and preferred partner for NHAI projects, said StoxBox in its IPO note.
"The company has recently joined hands with Delhi Metro for rail infra developments, which enables it to tap significant opportunities. The issue is valued at a P/E of 20.7 times on the upper price band based on FY24 earnings, which is deemed fair. Therefore, we recommend a 'subscribe' rating for the issue," it said.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.