Globe Civil Projects IPO: Price band set at ₹67-71 per share; check issue details, key dates, more
Globe Civil Projects IPO price band: The Globe Civil Projects Limited IPO price band has been fixed in the range of ₹ 67 to ₹ 71 per equity share of the face value of ₹ 10. The Globe Civil Projects IPO date of subscription is scheduled for Tuesday, June 24, and will close on Thursday, June 26. The allocation to anchor investors for the Globe Civil Projects IPO is scheduled to take place on Monday, June 23.
The price to earnings ratio based on diluted EPS for fiscal 2024 at the lower end of the price band is 18.72 and at the upper end of the price band is 19.83 as compared to the average industry peer group P/E ratio of 18.96 times for fiscal 2024. The Globe Civil Projects IPO lot size is 211 equity shares and in multiples of 211 equity shares thereafter.
Globe Civil Projects IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Tentatively, Globe Civil Projects IPO basis of allotment of shares will be finalised on Friday, June 27, and the company will initiate refunds on Monday, June 30 while the shares will be credited to the demat account of allottees on the same day following refund. Globe Civil Projects share price is likely to be listed on BSE and NSE on Tuesday, July 1.
Globe Civil Projects Limited is a comprehensive Engineering, Procurement, and Construction (EPC) firm based in New Delhi.
The company has successfully completed projects in 11 states across India, which include Uttar Pradesh, Haryana, Delhi, Maharashtra, Andhra Pradesh, Karnataka, Gujarat, Chhattisgarh, Rajasthan, Uttarakhand, and Himachal Pradesh. As of August 31, 2024, the company's total order book amounts to ₹ 8,929.45 million, encompassing 14 projects.
As per the red herring prospectus (RHP), the company's listed peers are B L Kashyap and Sons Ltd (with a P/E of 29.57), Ceigall India Ltd (with a P/E of 12.88), PSP Projects Ltd (with a P/E of 20.38), Capacit'e Infraprojects Ltd (with a P/E of 20.56), Ahluwalia Contracts (India) Ltd (with a P/E of 16.41).
Globe Civil Projects IPO, which is worth ₹ 119 crore, comprises a fresh issue of 1,67,60,560 equity shares. There is no offer for sale (OFS) component.
Globe Civil Projects IPO intends to use the net proceeds from the offering for various purposes, including financing the company's working capital needs, investing in the acquisition of construction equipment and machinery, and addressing general corporate needs.
The lead manager of the issue is Mefcom Capital Markets Ltd, and the registrar of the issue is KFin Technologies Ltd.
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