- The issue will open for subscription on Tuesday, June 24 and will close on Thursday, June 26
- Anchor book for the issue opens on Monday, June 23
- Investors can bid for a minimum of 211 shares and in multiples thereof
- Strong track record infrastructure projects, especially across railways, social infra, and commercial offices
- Key sector focus includes logistics, education, housing, transport, sports, and commercial infrastructure
NE BUSINESS BUREAU
AHMEDABAD, JUNE 18
New Delhi-based Globe Civil Projects Ltd, a civil construction and infrastructure development company, on Wednesday said it has fixed the price band at ₹67-71 per equity share for its forthcoming initial public offering (IPO).
The issue will open for subscription on Tuesday, June 24 and will close on Thursday, June 26. Anchor book for the issue opens on Monday, June 23.
The company will fetch about ₹119 crore at the upper end of the price band.
The funds will be raised through entirely fresh issuance of shares up to 16,760,560 equity shares of face value Rs 10 each, it said.
The lot size will be 211 equity shares and its multiples thereafter
Globe Civil Projects Limited intends to utilise ₹75 crores of the IPO proceeds for funding working capital requirements, ₹14.26 crores for capital expenditure towards purchase of construction equipment/ machineries, while the remaining funds will be used for general corporate purposes and issue expenses.
Incorporated in 2002, Globe Civil Projects is an integrated engineering, procurement and construction (EPC) company. It has successfully executed projects across 11 states in India, including Uttar Pradesh, Haryana, Delhi, Maharashtra, Andhra Pradesh, Karnataka, Gujarat, Chhattisgarh, Rajasthan, Uttarakhand, and Himachal Pradesh.
The Company has successfully completed 37 projects over the last two decades and is currently managing 13 ongoing projects across key infrastructure segments, working with reputed clients nationwide.
As of March 31, 2025, the Company consolidated order book stood at ₹669.10 crore, reflecting a strong pipeline of ongoing and upcoming projects.
The company has reserved 50 per cent of the net issue for the qualified institutional bidders (QIBs), while non-institutional investors (NIIs) shall have 15 per cent of shares reserved for them. Retail investors will get 35 per cent of shares allocated towards them in the IPO.
For the nine months ended December 31, 2024, Globe Civil Projects posted a revenue from operations of ₹254.65 crore and a profit after tax (PAT) of ₹17.78 crore.
The company shall command a total market capitalization of ₹424 crore.
The Company employed 122 individuals as of March 31st, 2025 on full time basis .
Shares of the company shall be listed on both BSE and NSE.
Mefcom Capital Markets is the sole manager for the issue, while Kfin Technologies is the register for it.
