The issue received bids for 47.77 crore shares, as against 1.17 crore shares on offer, according to data available with the NSE.
The Non Institutional Investors (NII) portion was subscribed the most at 77.29 times, while the Retail Individual Investors (RIIs) category got subscribed 34.80 times. The quota for Qualified Institutional Buyers (QIBs) received 23.65 times subscription.
According to the platforms tracking the grey market premium activities, the shares of Globe Civil Projects are trading a grey market premium of over 20%. Investorgain quoted a GMP of ₹15 for the shares of the company, indicating a list gain of 21.13%.
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.
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.
