Infra company Ceigall India's IPO subscribed 61% on Day 1 of offer

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Infra company Ceigall India's IPO subscribed 61% on Day 1 of offer - Business Standard

Quick Summary:

The initial public offer of infrastructure company Ceigall India received 61 per cent subscription on the first day of bidding on Thursday.The Rs 1,252.66-crore initial share sale received bids for 1,35,07,627 shares against 2,23,13,663 shares on offer, as per the NSE data.

The Ludhiana-based company's IPO is a combination of a fresh issue of Rs 684.25 crore and an Offer-For-Sale (OFS) of up to 1.42 crore equity shares worth Rs 568.41 crore, at the upper end of the price band, by the promoters, and an individual shareholder.

The category for non-institutional investors received 90 per cent subscription, while the retail individual investors part got subscribed 80 per cent.