Ceigall India IPO allotment status: Check application, latest GMP and listing date

Ceigall India is scheduled to finalize the basis of allotment of its shares on Tuesday, August 03. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate over the weekend or latest by Wednesday, August 07. The IPO of infra player had received a muted response from the investors, thanks to the Dalal Street selloff.
 

The IPO of Ceigall India was open for bidding between August 1 and August 5. The company had offered its shares in the fixed price band of Rs 380-401 per share with a lot size of 37 shares. The company raised a total of Rs 1,252.66 crore from its IPO, which was entirely a fresh share sale of up to Rs 684.25 crore and an offer-for-sale (OFS) up to 1,41,74,840 shares.
 

The issue was overall subscribed a total of 13.78 times, thanks to the push from qualified institutional bidders (QIBs), whose quota was booked 31.50 times. The quota for non-institutional investors was subscribed 12.42 times. The portions reserved for retail investors and employees saw bidding for 3.77 times and 11.55 times during the three-day bidding process.
 

Grey market premium (GMP) of Ceigall India has crashed sharply amid the jittered market sentiments and muted response from the investors. Last heard, the company was commanding a premium of Rs 19-20 per share, suggesting a listing pop of around 5 per cent for the investors. However, it was around Rs 70 when the issue opened for bidding.
 

Incorporated in 2002, Ceigall India is an infrastructure construction company with expertise in specialized structural projects, including elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways, and runways. The company completed over 34 road and highway projects as of July 2024.
 

Brokerage firms are mostly positive on the issue suggesting investors to subscribe to it for a long term citing its strong revenue growth, best in industry ROE, sound execution track record and plans to reduce debt as the key positives of the company, while stretched valuations and limited order book are the major concerns.
 

ICICI Securities, IIFL Securities and JM Financial are the book running lead managers of the Ceigall India IPO, while Link Intime India is the registrar for the issue. Shares of the company are set to debut on both BSE and NSE tentatively on August 08, Thursday.
 

Investors, who had bid for the issue of Ceigall India, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Ceigall India Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button

 

Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
 

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.
 

1) Go to the web portal of Link Intime Limited

2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.

 

 

 

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.