Cemindia Projects Ltd, an Adani Group company, has officially opened its qualified institutional placement (QIP) on October 14, 2026, setting the floor price at ₹1,158.58 per equity share. According to the latest filing disclosure, the Management Committee met at 6:25 p.m. on October 14, 2026, and concluded proceedings at 6:41 p.m., authorizing the opening of the issue under Regulation 171(b) of the SEBI ICDR Regulations. The company plans to offer up to 90.3 lakh shares, with an option to increase the issue size. The indicative issue price has been set at ₹1,108 per share, representing a discount of nearly 4% to Wednesday's closing price of ₹1,153.50.
The floor price has been determined in accordance with the pricing formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations, with a permissible discount of up to 5% at the company's discretion. As reported in the latest filing, the final issue price will be determined by the company in consultation with the book-running lead managers. The QIP is being conducted under Chapter VI of the SEBI ICDR Regulations, 2018, and Sections 42 and 62(1)(c) of the Companies Act, 2013. The preliminary placement document has been filed with both BSE and NSE and is accessible on the company's investor relations page at its official website.
SBI Capital Markets Limited, ICICI Securities Limited, and IIFL Capital Services Limited have been appointed as the book-running lead managers for the issue, according to the latest disclosure. Following the announcement, shares of Cemindia Projects closed 0.97% higher at ₹1,149.90 on the National Stock Exchange (NSE) on Wednesday. The positive market response indicates investor confidence in the company's capital raising initiative, with the actual issue price expected to be set between the floor price of ₹1,158.58 and up to a 5% discount below it.
Cemindia Projects Limited (NSE:CEMPRO), formerly known as ITD Cementation India Limited, is an infrastructure construction company headquartered in Mumbai, operating in civil engineering, marine works, underground tunnelling, transportation, and industrial projects across India. As reported in the latest filing, the company is listed on both NSE and BSE and falls within the infrastructure and construction sector. The QIP follows approvals from the Board of Directors on July 23, 2026, a special resolution passed by members on August 17, 2026, and today's Management Committee clearance. The equity shares being offered in this QIP have not been and will not be registered under the U.S. Securities Act of 1933, restricting participation to eligible institutional investors outside the United States.
