Global Civil Projects IPO opens today: Check price band, GMP, subscription and other details
The Rs 119 crore
initial public offering
(IPO) of Global Civil Projects Ltd opens for subscription today and will close on June 26. The Delhi-based
infrastructure EPC firm
, with a focus on
government contracts
for urban infrastructure such as roads, bridges, flyovers, and sewerage systems, is offering 1.67 crore fresh equity shares in the price band of Rs 67–71 per share.
Investors can bid for a minimum of 211 shares per lot, translating into an investment of Rs 14,981 at the upper end. Ahead of the issue opening, the GMP is Rs 15.
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The company plans to use the proceeds to fund working capital requirements (Rs 75 crore), purchase construction machinery (Rs 14.3 crore), and for general corporate purposes, including potential acquisitions (Rs 29.7 crore). The equity shares will be listed on both the NSE and BSE.
As of FY24, Global Civil Projects has executed over 55 projects and has an outstanding order book of over Rs 900 crore. The company reported revenue of Rs 334.8 crore and net profit of Rs 15.4 crore in FY24, with PAT rising over 216% year-on-year.
EBITDA margin stood at 14.13%, and return on equity improved to 19.8%. Post-issue, promoter holding will come down from 88.1% to 63.4%.
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Should you subscribe?
Ventura Securities has given a 'Subscribe' rating to the IPO, citing the company's execution capabilities, improving profitability, and strong presence in public infrastructure. 'With a track record of timely execution and a robust government pipeline, GCP is well-placed to scale,' the brokerage said.
Also read:
Kalpataru to raise Rs 1,590 crore through IPO amidst debt repayment plans and improved financials
It flagged risks such as geographical concentration and subcontractor dependency but noted that rising public capex and the company's positioning make it a credible long-term opportunity.
(
Disclaimer
: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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