Globe Civil Projects IPO: Price Band, Financials, Business, GMP — All You Need To Know

Globe Civil Projects Ltd.'s initial public offering is announced to open on Tuesday.

The price band for the offer is set in the range of Rs 67 to Rs 71 per share. The company will issue 1.67 crore shares, amounting to Rs 119 crore at a face value of Rs 10 each and no offer for sale component available, according to the red herring prospectus.

The company plans to utilise the proceeds towards funding the capital expenditure requirements and for the purchase of equipment and machinery. It will also allocate funds for general corporate purposes.

As part of its plan to raise Rs 119 crore, the company will deploy Rs 75 crore towards funding its working capital requirements.

Mefcom Capital Markets Ltd. is the sole book-running lead manager of the offering, and KFIN Technologies is the registrar.

Shares of Globe Civil Projects will be listed on the Bombay Stock Exchange and the National Stock Exchange.

• Issue opens: June 24.

• Issue closes: June 26.

• Issue price: Rs 67–71.

• Fresh issue: Rs 119 crore.

• Lot size: Minimum 211 shares.

• Market value at upper end of price band: Rs 3,050 crore.

Globe Civil Projects 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.

Globe Civil Projects plans to utilise the proceeds towards funding the capital expenditure requirements and for the purchase of equipment and machinery. A part of the proceeds will also be allocated for general corporate purposes.

As part of its plan to raise Rs 119 crore, the company will deploy Rs 75 crore towards funding its working capital requirements.

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 grey market premium of Globe Civil Projects is Rs 84 as of 9:32 p.m., according to InvestorGain. This implies shares of the company are estimated to list at Rs 84 apiece, indicating an 18.31% premium to the upper end of the price band.