The infrastructure business Ceigall India Ltd.’s initial public offering (IPO) began softly and slowly yesterday, despite the euphoria in the secondary market, where local benchmark indices reached all-time highs, with the employee category leading. According to BSE data, Ceigall India IPO subscriptions stood at 1.19 times on the second day of bidding.
The non-institutional investor part was subscribed 1.68 times, compared to 1.62 times subscription of the retail investor quota. The employee portion was booked 5.45 times, but the component for qualified institutional buyers (QIBs) is subscribed only 1%.
On Wednesday, the business announced that it had received ₹375 crore from anchor investors, only one day before the public subscription period for its IPO.The IPO price range is ₹380 to ₹401 per share. Subscriptions for the IPO began on Thursday, August 1, and will continue until Monday, August 5.
The book-running lead managers for the IPO are JM Financial Ltd, ICICI Securities Ltd, and IIFL Securities Ltd.
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