Latest news with #Procurement
The Hindu
8 hours ago
- Business
- The Hindu
Shivamogga–Shikaripura–Ranebennur rail project trails as land acquisition hurdles persist
The much-anticipated Shivamogga–Shikaripura–Ranebennur New Broad Gauge (BG) line project, covering a distance of 96 km, continues to face delays primarily due to land acquisition challenges. Sanctioned in the 2019-20 financial year, the project was originally estimated at ₹956 crore. The current anticipated cost has risen to ₹994.47 crore, with funding shared equally between the Indian Railways and the Government of Karnataka. Despite more than four years since approval, only 11.5% physical progress has been achieved, and no section of the line has been commissioned yet. Land acquisition remains the principal bottleneck, with just 560.49 acres (40.5%) of the required 1,382.7 acres handed over so far to railways from the State government. A staggering 822.21 acres (59.5%) is yet to be acquired, with the largest backlog concentrated in the Shikaripura–Ranebennur section, where 815.30 acres out of the required 878.14 acres are still pending. 'Land acquisition is the most pressing issue holding back the project,' said an official from South Western Railway. 'There are complications involving pending payments, documentation gaps, forest land clearance, and local disputes. These need urgent resolution if the project is to stay on track,' the official added. The project has been divided into two phases: Phase I covers the Shivamogga to Shikaripura stretch (46 km), while Phase II will extend from Shikaripura to Ranebennur. In a step forward, an EPC (Engineering, Procurement and Construction) contract for the Koteganguru–Shikaripura stretch (39.38 km) was awarded on February 17, 2023, for ₹530.59 crore. According to officials, to resolve the delays, regular high-level meetings have been held with key stakeholders, including the Chief Secretary of the Infrastructure Development Department (IDD), Deputy Commissioners, and the Minister of Infrastructure. Officials say the project has significant potential to boost connectivity in the region. 'The project is progressing, but land acquisition remains the critical challenge significantly impacting the pace of execution and commissioning,' the official added.
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Business Standard
2 days ago
- Business
- Business Standard
Globe Civil Projects IPO listing: Stock debuts at 28% premium on BSE
Globe Civil Projects, an integrated Engineering, Procurement, and Construction (EPC) company, made a positive debut on the stock exchanges on July 1, 2025, following the successful completion of its Initial Public Offering (IPO). On the BSE, Globe Civil Projects shares were listed at ₹91.1, translating to a premium of ₹20.1 or 28.31 per cent. Globe Civil Projects share price listed at ₹90 per share on the National Stock Exchange (NSE), reflecting a premium of ₹19 or 26.76 per cent above the issue price of ₹71 per share. The IPO listing was slightly below the grey market expectations, where shares of the company had been trading at ₹98, reflecting a premium of ₹27 or 38.03 per cent over the issue price. 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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Business Standard
6 days ago
- Business
- Business Standard
Mayasheel Ventures makes positive market debut; shares list at 23% premium
Mayasheel Ventures IPO listing today: Shares of roads and highways construction company Mayasheel Ventures made a robust market debut on Friday, June 27, 2025, listing at ₹58 on the NSE SME platform, a premium of 23.4 per cent from its issue price of ₹47 per share. After the listing, shares of Mayasheel Ventures were trading at ₹59.5, up 2.6 per cent from the opening price. Mayasheel Ventures' debut was slightly below the grey market estimates. Ahead of listing, the unlisted shares of Mayasheel Ventures were trading ₹60, reflecting a premium of ₹13 or 27.6 per cent against the issue price. Mayasheel Ventures IPO subscription Mayasheel Ventures IPO details Mayasheel Ventures IPO comprises a fresh issue of 5.8 million equity shares to raise ₹27.28 crore. There is no offer for sale (OFS) component. Mayasheel Ventures IPO was available for subscription from Friday, June 20, 2025, till Tuesday, June 24, 2025. The basis of allotment of shares was finalised on Wednesday, June 25, 2025. Maashitla Securities was the registrar of the issue. Narnolia Financial Services was the book-running lead manager of the Mayasheel Ventures IPO. According to the red herring prospectus (RHP), the company plans to use the net issue proceeds to purchase equipment and machinery and meet working capital requirements. The remaining funds will be used for general corporate purposes. About Mayasheel Ventures Mayasheel Ventures is involved in the business of construction of roads and highways for the National Highways and Infrastructure Development Corporation (NHIDCL) and other government departments. It is also a 'Class A' government contractor issued by the Uttar Pradesh Public Works Department (UPPWD), which means the company is qualified to take on large-scale and complex infrastructure projects. It also takes projects on an EPC (Engineering, Procurement, and Construction) and BOQ (Bill of Quantity) basis.
Business Upturn
7 days ago
- Business
- Business Upturn
Deepak Builders secures Rs 142.6 crore Unity Mall project in Karnal
By Aman Shukla Published on June 26, 2025, 12:23 IST Deepak Builders has officially received the Letter of Acceptance (LoA) from the Haryana State Industrial & Infrastructure Development Corporation (HSIIDC) for the construction of Unity Mall at Sector-37, HSIIDC Industrial Estate, Karnal. This development follows the company's earlier announcement on June 3, 2025, where it emerged as the L1 (lowest) bidder for the Engineering, Procurement, and Construction (EPC) contract. The project includes comprehensive planning, design, engineering, procurement, and construction work, along with all other related components. The total construction cost of the project is pegged at ₹142.60 crore (including GST), while the base contract value stands at ₹120.85 crore (excluding GST). The Unity Mall project is expected to be completed within 24 months from the date of commencement. Additionally, there will be a 36-month defect liability period and a 12-month operations and maintenance (O&M) phase thereafter. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Mint
25-06-2025
- Business
- Mint
Mayasheel Ventures IPO allotment expected today: Here's how to check status
Mayasheel Ventures IPO allotment in focus today: The allotment for Mayasheel Ventures is expected to be finalized today, June 25. Investors can check their allotment status through the registrar, Maashitla Securities Private Ltd., or on the NSE website. The IPO, which was open for subscription from June 20 to June 24, saw a healthy response from investors, being oversubscribed 232 times. Specifically, the NII segment was oversubscribed 715 times, while the QIB portion was oversubscribed 98 times. The retail portion has also been booked 102 times, as per the exchange data. The IPO price was set at ₹ 47 per share. Given the high level of retail oversubscription, shares will be allocated to retail individual investors (RIIs) on a proportional basis. Those who do not receive an allotment can expect the refund process to start on June 26, 2025. Shares allotted will be credited to investors' demat accounts on the same day as the refunds. The SME IPO is expected to be listed on the NSE SME platform, with a tentative date of June 27, 2025. The company intends to utilize the proceeds of the issue for funding capital expenditure requirements for the purchase of equipment/machinery, funding the working capital requirement, and general corporate purposes. How to check Mayasheel Ventures IPO allotment status on the registrar site? Step 1: Please visit the following link: to input your login details for the Mayasheel Ventures IPO allotment. Step 2: From the dropdown menu, select 'Mayasheel Ventures IPO' under the company list. (Note: Only companies with finalized allotments will be visible.) Step 3: If the company appears, choose one of the following options to proceed: PAN Number, Beneficiary ID, or Application No/CAF No. Step 4: Click on 'Search.' Your Mayasheel Ventures IPO will appear on your computer monitor or the display of your cell phone Step 1: Open the IPO allotment page at Step 2: Log in with your credentials. Step 3: Select Readymix Construction, enter your PAN details and application number, and click 'Submit.' Incorporated in May 2008, Mayasheel Ventures Limited constructs roads and highways for NHIDCL and other government departments. The company engages in constructing, altering, and developing complex projects like expressways, highways, flyovers, and bridges. It undertakes projects on an EPC (Engineering, Procurement, and Construction) and BOQ (Bill of Quantity) basis. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
