Globe Civil Projects IPO Opens On June 24, Strong GMP Boosts Sentiment
Mumbai: Globe Civil Projects IPO will open for subscription from June 24 to June 26. The IPO size is Rs 119 crore with a price band of Rs 67–Rs 71. It has received positive market response due to its healthy GMP.
The IPO is a fresh issue of Rs 119 crore. The company is offering 1.68 crore new shares. The promoters of the company are Ved Prakash Khurana, Nipun Khurana, and Vipul Khurana.
What is the price band and lot size?
The price band is set at Rs 67 to Rs 71 per share.
Retail investors can apply for 1 lot = 211 shares, costing about Rs 14,137 to Rs 14,981.
Small non-institutional investors (sNII) must apply for 14 lots = 2,954 shares (Rs 2.09 lakh).
Big non-institutional investors (bNII) need to apply for 67 lots = 14,137 shares (Rs 10 lakh).
What are the IPO dates?
IPO opens on June 24
Closes on June 26
Allotment likely on June 27
Shares will be credited to demat on June 30
Listing is expected on July 1 on BSE and NSE.
What is the IPO structure?
50 percent is for Qualified Institutional Buyers (QIBs)
35 percent for Retail Investors
15 percent for Non-Institutional Investors (NIIs)
What is the current GMP?
Market analysts say the GMP (Grey Market Premium) is around Rs 13, which is 18.3 percent higher than the issue price. This means strong investor interest.
What does the company do?
Globe Civil Projects Ltd, founded in 2002, is an EPC (Engineering, Procurement, Construction) company based in New Delhi.
It has completed 37 projects in 11 Indian states
Currently working on 12 projects
As of August 31, 2024, its order book is worth Rs 892.95 crore.
How is the company's financial performance?
In FY24: Revenue Rs 334.81 crore, Profit Rs 15.38 crore
Till Dec 31, FY25: Revenue Rs 256.74 crore, Profit Rs 17.79 crore
Why is the company launching an IPO?
Funds will be used for:
Rs 75 crore for working capital
Rs 14.26 crore for buying construction machinery
The rest for general corporate use and IPO expenses
Who is the lead manager of the IPO?
Mefcom Capital Markets Ltd is the book-running lead manager.
Who is the registrar of the IPO?
Kfin Technologies Ltd is the registrar of the IPO.
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