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

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

Ceigall India on Wednesday said it has mobilised Rs 375 crore from anchor investors.

The initial public offering (IPO) has a price band of Rs 380 to Rs 401 per share. The public issue will conclude on August 5.

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.

Promoters and promoter group entities -- Ramne