The initial public offer of Globe Civil Projects received bids for 8,16,76,623 shares as against 1,17,32,392 shares on offer, according to stock exchange data at 17:00 IST on Tuesday (24 June 2025). The issue was subscribed 6.96 times.
The issue opened for bidding on 24 June 2025 and it will close on 26 June 2025. The price band of the IPO is fixed between Rs 67 and 71 per share. An investor can bid for a minimum of 211 equity shares and in multiples thereof.
The public issue comprises entirely of a fresh issue of up to 1,67,60,560 equity shares of a face value of Rs 10 per equity share. Of the net proceeds from the fresh issue, Rs 75 crore will be used to fund working capital requirements, and Rs 14.255 crore will go towards capital expenditure on the purchase of construction equipment/machinery. The balance is for general corporate expenses.
Globe Civil Projects, promoted by Ved Prakash Khurana, Nipun Khurana, and Vipul Khurana, is a New Delhi-based integrated EPC company engaged in transport, social, and commercial infrastructure construction. With a strong presence in educational and railway infrastructure, it has completed 37 projects across 11 states and is currently executing 13 projects. As of March 31, 2025, its order book stood at Rs 669.10 crore. The company also operates through joint ventures and derives a major share of revenue from government clients like the CPWD.
Ahead of the IPO, Globe Civil Projects on Monday, 23 June 2025, raised Rs 35.69 crore from anchor investors. The board allotted 50.28 lakh shares at Rs 71 each to 6 anchor investors.
The firm reported a consolidated net profit of Rs 17.79 crore and total income of Rs 254.66 crore for the nine months ended on 31 December 2024.