The initial public offer of infrastructure company Ceigall India got subscribed 13.75 times on the last day of share sale on Monday.
The Rs 1,252.66-crore initial share sale received bids for 30,68,91,912 shares against 2,23,13,663 shares on offer, as per NSE data.
The quota for Qualified Institutional Buyers (QIBs) received 31.50 times subscription while non-institutional investors’ part got subscribed 14.40 times. The portion for Retail Individual Investors (RIIs) garnered 3.72 times subscription.
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. This takes the total issue size to Rs 1,252.66 crore.
Price range for the offer is Rs 380-401 per share.
Ceigall India on Wednesday said it has mobilised Rs 375 crore from anchor investors.
Proceeds from the fresh issue will be used
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Ceigall India’s IPO subscribed 13.75 times on last day of share sale (05-08-2024)
Ceigall India’s IPO subscribed 13.75 times on last day of share sale (05-08-2024)
The initial public offer of infrastructure company Ceigall India got subscribed 13.75 times on the last day of share sale on Monday.
The Rs 1,252.66-crore initial share sale received bids for 30,68,91,912 shares against 2,23,13,663 shares on offer, as per NSE data.
The quota for Qualified Institutional Buyers (QIBs) received 31.50 times subscription while non-institutional investors’ part got subscribed 14.40 times. The portion for Retail Individual Investors (RIIs) garnered 3.72 times subscription.
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. This takes the total issue size to Rs 1,252.66 crore.
Price range for the offer is Rs 380-401 per share.
Ceigall India on Wednesday said it has mobilised Rs 375 crore from anchor investors.
Proceeds from the fresh issue will be used
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The current ICDR (Issue of Capital and Disclosure Requirements) rules prescribe overall timelines regarding implementation of the bonus issue, however, there are no specific timeline on credit of bonus shares and trading of such shares, from the record date of the issue.
“Thus, absence of any specific guidelines on this aspect leads to non-uniformity with respect to timelines in which shares are credited and made available for trading in bonus issue,” Sebi said in its consultation paper.
Currently, after a bonus issue, existing shares continue to trade under the same ISIN, and the new bonus shares are credited and available for trading within 2-7 working days post record date.
Therefore, to have uniformity in timelines for credit and trading of bonus shares, it is imperative th
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