Ceigall India Ipo Oversubscribed 163x Retail Portion

Ceigall India IPO Soars with Over 160x Retail Subscription

Ceigall India IPO: Oversubscribed 163x Retail Portion

Ceigall India Limited (CILWEB) has made a strong debut in the stock market with its initial public offering (IPO) being oversubscribed 163 times the retail portion of the book build issue. The public issue was open for subscription from August 1-5, 2024.

Key Details of the Ceigall India IPO

The price band for the Ceigall India IPO was fixed at Rs 380-Rs 401 per share. The issue raised Rs 1,600 crore at the upper end of the price band. The company plans to use the proceeds for capital expenditure, repayment of debt, and general corporate purposes.

The latest tentative Gray Market Premium (GMP) of Ceigall India IPO is Rs 90. GMP is the premium at which the shares of an upcoming IPO are traded in the gray market before the listing. It is an indicator of the expected listing gains.

The shares of Ceigall India Limited IPO are expected to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on August 10, 2024.