Globe Civil Projects IPO to open on June 24; check price band, issue size, GMP & more

The initial public offering (IPO) of Globe Civil Projects shall open for bidding on Tuesday, June 24 and can be subscribed this Thursday, June 26. The company shall be offering its shares in the range of Rs 67-71 apiece with a lot size of 211 equity shares and its multiples thereafter. Anchor book for the issue opens on Monday, June 23.

Incorporated in 2002, New Delhi-based 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 IPO of Globe Civil Projects is entirely a fresh issue worth Rs 119 crore, which includes a fresh share sale of Rs 1,67,60,560 apiece. The net proceeds from the issue shall be utilized towards funding working capital requirements; capital expenditure towards purchase of construction equipments/machineries; and general corporate purposes.

Globe Civil Projects has completed 37 projects. Currently, the company is working on 12 ongoing projects, including five social and commercial projects. As of August 31, 2024, the company's order book stands at Rs 892.95 crore, covering 14 projects, including 9 infrastructure and 5 non-infrastructure products.

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 on December 31, 2025, Global Civil Projects reported a net profit of Rs 17.79 crore with a revenue of Rs 256.74 crore. The company clocked a net profit of Rs 15.38 crore with a revenue of Rs 334.81 crore for the financial year 2023-24.  The company shall command a total market capitalization of Rs 424 crore.

The company is not commanding any grey market premium as of now. Mefcom Capital Markets is the sole manager for the issue, while Kfin Technologies is the register for it. Shares of the company shall be listed on both BSE and NSE, with July 1 as the tentative date of listing on the exchanges.