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Globe Civil Projects IPO listing: Stock debuts at 28% premium on BSE
Globe Civil Projects IPO overview
The ₹119 crore public offering of Globe Civil Projects, offered at a price band of ₹67–71 with a lot size of 211 shares, received bids for 1,00,94,60,714 shares against the 1,17,32,392 shares offered. This led to an oversubscription of 86.04 times by the end of the subscription period, according to data available on the BSE.
Globe Civil Projects IPO witnessed the highest participation from the non-institutional investors (NIIs), who subscribed to 143.15 times the portion reserved for them. This was followed by the qualified institutional buyers (QIBs), who oversubscribed their category by 99.76 times, and retail investors at 53.72 times.
The subscription window closed on June 26, and the share allotment was finalized on June 27. According to the Red Herring Prospectus (RHP), the company plans to utilise the IPO proceeds for working capital requirements, purchase of construction equipment, and machinery, along with other general corporate purposes.
About Globe Civil Projects
Globe Civil Projects is a leading EPC company based in New Delhi, with expertise in executing large-scale infrastructure projects. The company operates across 11 Indian states, including Uttar Pradesh, Maharashtra, Haryana, Gujarat, Andhra Pradesh, Karnataka, Rajasthan, Chhattisgarh, Uttarakhand, Himachal Pradesh, and Delhi.
Globe Civil Projects is involved in the construction of transportation and logistics infrastructure, social and commercial projects, and non-infrastructure projects such as commercial offices and residential housing.
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