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Globe Civil Projects IPO opens on June 24; here's all you need to know

Globe Civil Projects IPO: The initial public offering (IPO) of integrated engineering, procurement, and construction (EPC) company Globe Civil Projects is scheduled to open for public subscription on Tuesday, June 24, 2025. Ahead of the opening, the bidding for anchor investors is scheduled to take place on June 23. Through this public offering, Globe Civil Projects aims to raise ₹119 crore. As investors await the subscription window to open, here are some key details from the Red Herring Prospectus (RHP): Globe Civil Projects IPO issue size The public issue is a book-built issue comprising an entirely fresh issue of 16.8 million equity shares, aggregating up to ₹119 crore. Globe Civil Projects IPO does not have any offer-for-sale (OFS) component. Globe Civil Projects has reserved not more than 50 per cent of the net offer for qualified institutional buyers, not less than 35 per cent for retail investors, and not less than 15 per cent for non-institutional investors. Globe Civil Projects IPO lot size, price band Globe Civil Projects IPO will be offered at a price band of ₹67–71 per share with a lot of 211 shares. Accordingly, investors can bid for a minimum of 211 shares and in multiples thereof. The minimum investment required by a retail investor is ₹14,981. A retail investor can bid for a maximum of 13 lots or 2,743 shares, amounting to ₹1,94,753. Globe Civil Projects IPO grey market premium (GMP) today The unlisted shares of Globe Civil Projects were trading flat at ₹71 per share in the grey market, revealed sources tracking unofficial market activities. Thus, the grey market premium (GMP) forGlobe Civil Projects IPO remains nil on Tuesday, June 17. Globe Civil Projects IPO allotment date, listing date The public offering will remain open for subscription until Thursday, June 26, 2025. The basis of allotment is likely to be finalised on Friday, June 27, 2025, with shares expected to be credited into demat accounts on Monday, June 30, 2025. Shares of Globe Civil Projects are scheduled to list on the BSE and NSE on Tuesday, July 1, 2025. Globe Civil Projects IPO objective The company plans to utilise the net proceeds to fund working capital requirements and capital expenditure for the purchase of equipment and machinery. A portion of the funds will also be allocated for general corporate purposes. Globe Civil Projects IPO registrar, lead manager Kfin Technologies is the registrar for the IPO, while Mefcom Capital Markets is the sole book-running lead manager. About Globe Civil Projects Globe Civil Projects is involved in the execution and construction of infrastructure projects, including transport and logistics, social and commercial infrastructure, and non-infrastructure projects such as commercial offices and housing. While the company initially focused on educational institution buildings and railway infrastructure, it has since expanded into projects such as railway bridges, airport terminals, elevated railway terminals, and hospitals, according to its RHP. Globe Civil Projects financial snapshot In FY24, profit attributable to the company's owners rose 216.91 per cent year-on-year to ₹15.73 crore, compared to ₹4.85 crore in FY23. For the nine months ended December 31, 2024, profit stood at ₹17.78 crore. Revenue increased 42.4 per cent year-on-year to ₹332.2 crore in FY24 from ₹233.3 crore in FY23. For the nine months ended December 31, 2024, revenue was ₹254.65 crore. Total expenditure rose to ₹313.82 crore in FY24, up 37.4 per cent from ₹228.4 crore in FY23. For the nine-month period ending December 31, 2024, it stood at ₹233.58 crore.