Ceigall India IPO subscribed 43% on day 1 so far

1 Aug 2024 , 03:31 PM

Ceigall India Ltd’s IPO has been subscribed 43% on its first day, August 1, with Retail Individual Investors (RIIs) leading the way, subscribing 0.63 times their allocated quota. Non-Institutional Investors (NIIs) quickly followed, subscribing at 0.5 times their reserved part. Qualified Institutional Buyers (QIBs) bid on more than 8,500 out of the 61.9 lakh shares available to them.

The employee section was subscribed 2.35 times.

The IPO bidding process will last until August 5. The IPO, worth ₹1,252.66 crore, includes a fresh issue of 1.71 crore shares worth ₹684.25 crore and an offer to sell 1.42 crore shares worth ₹568.41 crore.

The IPO’s price band is set at ₹380 to ₹401 per share, with a minimum lot size of 37 shares. Retail investors must invest a minimum of ₹14,837, whilst small and large institutional investors must deposit ₹2.08 lakh and ₹10.09 lakh, respectively. Ceigall India intends to offer its shares on both the BSE and the NSE, with a planned listing date of August 8.

The company has already received strong interest from anchor investors, generating ₹375.20 crore ahead of the public offering. ICICI Securities Ltd, IIFL Capital Services Ltd., and JM Financial Ltd are spearheading the IPO as book-running lead managers, with Link Intime India Pvt Ltd serving as the registrar.

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