Globe Civil Projects mobilises Rs 35.7 crore via anchor book ahead of IPO

Globe Civil Projects IPO

New Delhi-headquartered EPC company Globe Civil Projects has raised Rs 35.7 crore from six institutional investors via anchor book on June 23, a day before the IPO opens for subscription.

The public issue will be available to investors between June 24-26 with a price band of Rs 67-71 per share. The IPO consists of solely fresh issue of 1.67 crore equity shares worth Rs 119 crore at the upper price band.

The company in its filing to exchanges said on June 23 that it has finalised allocation of 50.28 lakh shares to anchor investors at a price of Rs 71 per share.

Chanakya Opportunities Fund, Steptrade Revolution Fund, Lords Multigrowth Fund, and Compact Structure Fund are among six anchor investors.

Globe Civil Projects is seeking a valuation of Rs 424 crore, and aims to utilise IPO proceeds for working capital requirement, and purchase of construction equipment/ machineries. The remainder of the funds will be used for general corporate purposes.

The company has 13 projects that are on going, including five social and commercial infrastructure projects, and four residential building projects. As of March 2025, the order book stood at Rs 669.1 crore. Mefcom Capital Markets is acting as the sole book running lead manager to the Globe Civil Projects IPO.