The share price of Ceigall India was listed at ₹413. This figure is 3% more than the ₹401 issue price on the BSE. The Ceigall India share price was listed at ₹419 on the NSE, resulting in somewhat larger listing gains of 4.5%.
Individuals can register for the Ceigall India IPO on August 1, 2024. The registration will close on August 5, 2024.
The subscription amount and the Grey Market premium showed that the street was anticipating better profits.
On the final day of bidding, Ceigall India Limited’s initial public offering was subscribed 13.75 times. The BSE reports that bids totalling 30,67,62,708 shares. The price range varies between ₹380–401.
GMP Declining Rapidly
On the last day of subscription, the Grey Market premium for Ceigall India or GMP was +53. This means that, according to investorgain.com, the price of Ceigall India shares was trading at a premium of ₹53 on the grey market.
The expected listing price of Ceigall India shares was indicated at ₹454 apiece, which was 13.22% higher than the IPO price of ₹401 on Day 3, taking into account the top end of the IPO pricing band and the current premium on the grey market.
Still, the GMP had been steadily falling over the preceding 10 sessions and had dropped to barely +17.5, indicating that market expectations had decreased and the price of Ceigall India’s shares was trading at a comparable level.
The Bottom Line
The book-built issue of ₹1,252.66 crores was the Ceigall India IPO. The offering consisted of both a new share issue and a selling offer. In the Ceigall India IPO, 1.71 crore shares were issued in a fresh offering valued at ₹684.25 crores, while 1.42 crore shares were offered for sale, totalling ₹568.41 crores.
Ceigall India planned to purchase equipment with the net proceeds from the initial public offering (IPO) and to fully or partially repay certain loans that the firm and its subsidiary, Ceigall Infra Projects Private Limited, had taken out.
