Globe Civil Projects IPO: The initial public offering (IPO) of Globe Civil Projects opened for public subscription on June 24 and has witnessed moderate participation on day one. As of 10:15 AM, the IPO was subscribed 13% overall, with significant interest from non-institutional investors (NIIs), who subscribed to 41% of their allocated portion. Retail investors subscribed to 17%, while qualified institutional buyers (QIBs) had not yet placed any bids.
Grey Market Premium (GMP)
Shares of Globe Civil Projects are trading at a grey market premium of around 19.7%, translating to ₹14–15 above the issue price. This indicates healthy investor sentiment ahead of the stock’s listing.
Globe Civil Projects IPO Details
The company aims to raise funds primarily for three purposes:
- To meet working capital requirements,
- For capital expenditure related to purchasing construction equipment and machinery, and
- For general corporate purposes.
Globe Civil Projects IPO: Key Dates
- IPO Open Date: June 24, 2025
- IPO Close Date: June 26, 2025
- Share Allotment: Expected on June 27, 2025
- Listing Date: Likely on July 1, 2025
Globe Civil Projects Price Band
The IPO price band is set at ₹67 to ₹71 per share.
Lead Manager and Registrar
Mefcom Capital Markets Limited is acting as the book-running lead manager, while KFin Technologies Limited is the registrar to the issue.
About Globe Civil Projects
Based in New Delhi, Globe Civil Projects is an integrated engineering, procurement, and construction (EPC) firm. The company operates across 11 Indian states, executing a wide variety of projects including:
- Transport and logistics infrastructure,
- Social and commercial infrastructure,
- Non-infrastructure projects such as office complexes and housing developments.
Its core strengths lie in constructing educational institution buildings and railway infrastructure. It has also ventured into specialized projects like railway bridges, airport terminals, elevated railway stations, and hospitals.
Valuation and Investment Outlook
According to a note by Bajaj Broking, the company witnessed a decline in revenue and profit in FY23. The IPO is priced at a:
- Price-to-Book Value (P/BV) of 3.06 based on pre-IPO NAV of ₹23.24 (as of December 31, 2024),
- P/BV of 1.94 based on post-IPO NAV of ₹36.64,
- Price-to-Earnings (P/E) of 17.88 based on projected FY25 earnings,
- And P/E of 27.52 based on FY24 earnings.
The brokerage views the IPO as fully priced but has recommended a “subscribe for long term” rating due to the company’s diversified portfolio and sectoral presence.
(Disclaimer: Views and recommendations expressed by analysts and experts are their own and do not reflect the official stance of this platform. Investors are advised to consult certified financial advisors before making investment decisions.)