Ceigall India makes a modest IPO debut on NSE; should you buy, sell, or hold?

The price band for the issue, which was subscribed 13.78 times during August 1-5, was Rs 380-401 per share.

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26 Aug, 2025 12:21

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Ceigall India Ltd began trading on August 8 with shares listing at Rs 419 on the NSE, a modest 4.4 percent premium over the issue price of Rs 401. This opening aligned with analysts' expectations of around 5 percent gains. Analysts are divided on short-term versus long-term strategies, but the consensus points towards holding shares for future appreciation, driven by the company's strong order book and strategic market positioning.

Emphasising Ceigall's long-term potential, Narendra Solanki, Head of Fundamental Research at Anand Rathi Shares said, "The company has a strong order book spread across various business sectors and geographical regions allowing them to pursue a wider range of project tenders, thereby maximizing their business volume and profit margins. He recommended a 'Subscribe - Long Term' rating for the IPO.

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Prashanth Tapse, Sr. VP of Research at Mehta Equities said that the company's focus on infrastructure and specialised projects bodes well for long-term prospects. "Given its efficient business model, emphasising careful project selection and cost optimisation, has consistently maximized profit margins and operational efficiency," Tapse said. He recommended a 'Hold' position to traders, anticipating premium multiples post-listing due to Ceigall's strong project execution capabilities.

Parth Shah, Research Analyst at StoxBox said that with a revenue CAGR of 43.9 percent and a strategic alliance with Delhi Metro, Ceigall India is well-positioned for future growth. "We have a positive view of the company and advise the participants who have been allocated to the issue to hold the shares from a medium- to long- term perspective."

Also Read | Ceigall India shares may debut with moderate premium on August 8

Meanwhile, Amit Goel, Co-Founder & Chief Global Strategist at Pace 360 advised investors to book profits following the IPO. He said that although Ceigall has shown impressive CAGR growth in its earnings, the issue appears aggressively priced based on FY24 earnings.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.