– Ceigall India’s IPO opened for bidding on August 1 and will be open until August 5, offering shares in the range of Rs 380-401 apiece
– The company specializes in infrastructure construction projects such as roads, bridges, railways, highways, and runways
– The IPO includes a fresh share sale of Rs 684.25 crore and offer-for-sale of up to 1,41,74,840 equity shares
– Ceigall India has completed over 34 road and highway projects as of July 2024
– Financial performance for the year ending March 31, 2024 showed a net profit of Rs 304.91 crore
– The company has reserved shares for eligible employees and allocated portions for different types of investors
– Various brokerage firms have recommended subscribing to the IPO with caution, for the long term, or unanimously
– The company is valued at a P/E multiple ranging from 20.7 to 23 times based on FY24 earnings, with solid growth prospects and strong financial performance.