Jaipur-based Goel Construction Company is set to launch Rs 100-crore initial share sale for public subscription in the coming month, on September 2. It has fixed price band for the IPO at Rs 250-262 per share.
The construction services provider aims to raise Rs 99.77 crore via initial public offering (IPO).
The IPO is a combination of fresh issue of 30,84,400 equity shares worth Rs 80.81 crore and an offer-for-sale of 7,23,600 shares amounting to Rs 18.96 crore by promoter, the Goel family.
The company has reserved half of the offer size for qualified institutional buyers. Further, 35 percent portion of the IPO is set aside for retail investors, and the remainder 15 percent for non-institutional investors.
The anchor book of the IPO will be launched on September 1, while the offer will close for public bidding on September 4.
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The IPO share allotment will be finalised by September 8. Goel Construction Company shares will be available for trading on the BSE SME effective September 10.
In the last four years, the construction contractor has delivered 19 projects worth Rs 1,135 crore in India. As of June 2025, it has 14 ongoing projects across eight states in India, with an order book of Rs 596.6 crore.
Goel Construction Company plans to spend Rs 41.7 crore of the fresh issue proceeds for the purchase of additional equipment and fleet. Further Rs 23.05 crore amount will be used for repayment of entire construction equipment loans out of the total outstanding borrowings of Rs 27.14 crore.
And the remainder fresh issue funds will be utilised for general corporate purposes.
The financial performance in the recent past years has been healthy with profit in FY25 growing 69.2 percent to Rs 38.3 crore compared to Rs 22.6 crore, and revenue increasing 52.8 percent to Rs 590 crore, compared to Rs 386 crore in the previous year.
Srujan Alpha Capital Advisors LLP is acting as the sole book running lead manager for the Goel Construction Company IPO.
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