Globe Civil Projects Listing: Shares Debut At 28.3% Premium To Issue Price

Shares of Globe Civil Projects Ltd. listed at a premium of 28.3% on Tuesday at Rs 91.1 per share on the BSE, against the issue price of Rs 71 per share. On the National Stock Exchange, the shares debuted at a 26.8% premium of Rs 90 per share with the same issue price.

Globe Civil Projects Ltd.'s initial public offering was subscribed 86.04 times on the third and final day of bidding on Thursday. It was subscribed 15.27 times on its second day. On the first day, the IPO was subscribed 6.97 times, led by demand from non-institutional buyers.

The IPO's GMP was Rs 27, as of July 1 at 5:55 a.m. With the price band of Rs 71, the IPO's estimated listing price is Rs 98.

Globe Civil Projects reported a revenue of Rs 332.16 crore in the year ended March 31, 2024, while its net profit for the same period reached Rs 15.37 crore.

The company's revenue for the nine months ended Dec. 31, 2024, stood at Rs 254.65 crore, and its net profit for the same period was Rs 17.78 crore.

The company is an engineering, procurement, and construction company located in New Delhi. The company's business is across eleven Indian states, including Uttar Pradesh, Haryana, Delhi, Maharashtra, Andhra Pradesh, Karnataka, Gujarat, Chhattisgarh, Rajasthan, Uttarakhand, and Himachal Pradesh.

It covers the execution and construction of a wide range of infrastructure projects comprising transport and logistics and social and commercial developments, along with non-infrastructure projects such as commercial office spaces and residential housing.

The company has expanded into specialised areas which include railway bridges, airport terminals, elevated rail terminals, and hospitals.