New Delhi-headquartered engineering, procurement and construction company Globe Civil Projects is set to open its maiden public issue for subscription on June 24. The price band details will be disclosed next week.
The anchor book for institutional investors will be launched on June 23, while the offer will close for all investors on June 26. The company will finalise its IPO share allotment by June 27, while Globe Civil Projects shares will be available for trading on the bourses, effectively July 1.
The IPO comprises of solely fresh issue of 1.67 crore equity shares, as per the red herring prospectus filed on June 14.
Globe Civil Projects has completed 37 projects in the last two decades. Currently, it has 13 on-going projects including 5 social and commercial infrastructure projects, 3 transport & logistics projects, and 4 residential building projects.
Click Here To Read All IPO News
As of March 2025, its order book was Rs 669.1 crore, declining from Rs 778.5 crore as of December 2024.
The company will utilise Rs 75 crore out of IPO proceeds for working capital requirements, Rs 14.3 crore for purchase of equipment/machineries, and the remainder for general corporate purposes.
On the financial front, profit for the year ended March 2024 stood at Rs 15.4 crore, growing 217 percent and revenue at Rs 332.2 crore, increasing 42.3 percent over the previous fiscal year. Profit for nine months period ended December 2024 stood at Rs 17.8 crore on revenue of Rs 254.7 crore.
Mefcom Capital Markets is acting as the book running lead manager to the issue.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
