Globe Civil Projects IPO fully subscribed within hours on opening day: 10 key things to know about ₹119 crore public offer

Globe Civil Projects IPO: New Delhi-based EPC company Globe Civil Projects' mainboard initial public offering has been fully subscribed within hours on the first day of subscription on Tuesday, June 24. The issue will conclude on June 26. The price band has been fixed at ₹67 to ₹71 per share.

The initial share sale secured bids for 1,21,46,215 shares compared to 1,17,32,392 equity shares on offer, according to the consolidated NSE data until 11:25 am. Retail individual investors subscribed their part 1.43 times, while the non-institutional investors portion was booked 1.5 times.

Globe Civil Projects IPO: 10 key points to know

1. Globe Civil Projects IPO subscription period: The initial public offering is open from Tuesday, June 24, to Thursday, June 26.
2. Anchor investor details: The company mobilised ₹35.7 crore from six anchor investors, including Compact Structure Fund, Chanakya Opportunities Fund, Steptrade Revolution Fund, and Lords Multigrowth Fund.
3. IPO offer structure: The ₹119 public offer is only a fresh issuance of 16,760,560 shares.
4. Globe Civil Projects IPO price band: The price range has been set at ₹67 to ₹71 per share.
5. Reservation: The company has set aside 50% of the offer for qualified institutional buyers, 35% for retail investors, and the remaining 15% for non-institutional investors.
6. Globe Civil Projects IPO lot size: An investor can apply for 211 shares and in multiples thereafter. The minimum investment required is ₹14,981 (cut-off price).
7. Objectives: The money generated for the fresh issue will be used for working capital needs, capital expenditure for the purchase of machinery, and serve general corporate purposes.
8. Book-running lead manager and registrar: MEFCOM Capital Markets Ltd is the issue's book-running lead manager, while KFin Technologies is the registrar.
9. Globe Civil Projects IPO allotment date and listing date: The basis of allotment is expected to be finalised on June 27, while listing on the NSE and the BSE will take place on July 1.
10. Globe Civil Projects revenue and net profit: The company's revenue from operations increased 42.36% year-on-year (YoY) to ₹334.81 crore in the financial year 2023-24, while profit after tax rose 217.11% YoY to ₹15.38 crore.

Globe Civil Projects, which is an integrated engineering, procurement and construction (EPC) firm, specialises in infrastructure projects, including social and commercial projects, the transport and logistics segment and non-infrastructure category.