Ceigall India's IPO subscribed 13.75 times on last day of share sale

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