In Seagull India's IPO, its promoters and existing shareholders raised Rs. 684.25 crore, which includes fresh share sale and offer for sale (OFS) of 1,41,74,840 equity shares.
Seagull India's initial public offering (IPO) will open for bidding on Thursday, August 1. The company sold its shares at Rs. offers in the range of 380-401. Interested investors can subscribe to the IPO by Monday, August 05 and thereafter apply for a minimum of 37 equity shares and multiples.
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Established in 2002, Seagull India is an infrastructure construction company specializing in specialized infrastructure projects including elevated roads, flyovers, bridges, railway overpasses, tunnels, highways, expressways and runways. The company has completed more than 34 road and highway projects till July 2024.
Seagull India IPO Rs. 684.25 crore comprising fresh share sale and offer-for-sale (OFS) of up to 1,41,74,840 equity shares by its promoters and existing shareholders, amounting to Rs. 568.41 crores. Price band. The company through sale of its initial shares raised a total of Rs. 1,252.66 crore was sought to be collected.
The net proceeds from the fresh issue will be used to fund the purchase of equipment; Full or partial repayment/prepayment of certain borrowings taken by the Company and its Seagull Infra projects. The proceeds from the OFS will go to the selling shareholders of the company. Anchor Books for the issue will open on Wednesday, July 31.
Seagull India has 18 ongoing projects, including 13 EPC projects and five HAM projects. It includes elevated corridors, bridges, flyovers, rail over-bridges, tunnels, expressways, runways, metro projects and multi-lane highways. The company has ongoing projects of 1,488.17 lane kilometers and has completed O&M projects of 2,158.72 lane kilometers as on March 31, 2024.
Seagal specializes in construction, development and implementation of large multi-lane highway projects with specialized infrastructure in Punjab, Haryana, Rajasthan, Uttar Pradesh, Himachal Pradesh, Jammu & Kashmir, Jharkhand, Delhi, Maharashtra and various states of India. Bihar.
By June 30, 2024, the company's order book stands at Rs. 9,470.84 crores. It has recently completed several major projects in Punjab, including road widening, construction of the Kartarpur-Sahib project and completion of part of the elevated corridor for the Delhi-Saharanpur project. . .
For the financial year ended March 31, 2024, Seagull India reported Rs. 3,066.19 crore with revenue of Rs. 304.91 crore in net profit was reported. The company's net profit for the financial year 2022-23 is Rs. 2,087.04 crore with revenue of Rs. 167.70 crores.
Company for its eligible employees Rs. 2 crore worth of shares have been reserved, which will be offered during the bidding at Rs. 38 discount will be available. It has reserved 50 percent of the net offer for qualified institutional bidders, while retail investors will have 35 percent of the net offer and the remaining 15 percent of the net offer will be allocated to non-institutional investors.
ICICI Securities, IIFL Securities and JM Financial Seagull India are the book running lead managers of the IPO, while Link Intime India is the registrar for the issue. Shares of the company are set to make their tentative debut on both BSE and NSE on Thursday, August 08.
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