Ceigall India IPO Review

Ceigall India Limited is an infrastructure construction company with experience in undertaking specialized structural works such as elevated roads, flyovers, bridges, Railway over bridges (ROB), tunnels, highways, expressways and runways.

The company is led by their individual Promoter and Managing Director, Ramneek Sehgal, who has more than 20 years of experience in the construction industry.

Financially, Ceigall revenue jumped from ₹11,465.04 Millions in FY22 to ₹20,870.41 Millions in FY23 and currently jumped to ₹30,661.88 Millions in FY24. Similarly, EBITDA increased from ₹1,859.15 Millions in FY22 to ₹2,956.29 Millions in FY23 and currently increased at ₹5,176.62 Millions in FY24. The PAT also increased from ₹1,258.61 Millions in FY22 to ₹1,672.72 Millions in FY23 and currently increased at ₹3,043.07 Millions in FY24. This indicates a steady financial performance.

For the Ceigall IPO, the company is issuing shares at a pre-issue EPS of ₹19.37 and a post-issue EPS of ₹17.46. The pre-issue P/E ratio is 20.70x, while the post-issue P/E ratio is 22.96x against the industry P/E ratio of 18.34x. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of Ceigall indicates potential listing gains of 35% to 40%. Given the company's financial performance and the valuation of the IPO, we recommend Investors to Apply the Ceigall India Limited IPO for Listing gain or long term investment purposes.