The company is selling its shares in the range of ₹67-71 apiece and investors can apply for a minimum of 211 equity shares and its multiples thereafter. The issue will close for bidding on June 26.
The grey market premium for the Globe Civil Projects IPO stood at ₹15 per share. The latest GMP indicates a listing price of ₹86 per share at a premium of 21.13%, compared to the upper limit of the price band.
Bajaj Broking has recommended investors to subscribe to the IPO for a medium to long-term perspective.
Globe Civil Projects is engaged in EPC and MEP projects and related services. Till FY24, its primary focus was on educational institute projects, but now has diverse activities. If marked de-growth in top and bottom lines for FY23. Based on its recent financial data, the issue appears fully priced. As of March 31, 2025, its order book stood at over ₹669 crore.
SMC Global said that Globe Civil Projects is well-positioned for sustained growth, backed by strong execution capabilities, a ₹669.10 crore diversified orderbook, and robust financial performance.
With strategic focus on government infrastructure, particularly education and healthcare, and expanding presence across 11 states, the company targets scalable opportunities.
Ahead of the issue opening, the company has raised ₹35.7 crore from six institutional investors through the anchor book.
The IPO consists of solely fresh issue of 1.67 crore equity shares worth ₹119 crore at the upper price band.
Globe Civil Projects is seeking a valuation of ₹424 crore, and plans to utilise IPO proceeds for working capital requirement, and purchase of construction equipment or machineries. The remainder of the funds will be used for general corporate purposes.
The company 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.
Globe Civil Projects Limited has completed 37 projects. Currently, the company is working on 12 ongoing projects, including five social and commercial projects.
MEFCOM Capital Markets is the book-running lead manager of the Globe Civil Projects IPO, while Kfin Technologies is the registrar for the issue.
The allotment for the Globe Civil Projects IPO is expected to be finalised on June 27. Globe Civil Projects IPO will be listed on BSE, NSE with a tentative listing date fixed as July 1.
