Goel Construction IPO opens for subscription; check price band, lot size, objectives and key dates

Goel Construction IPO, with a price band of ₹250 to ₹262 per share, opened for bidding on Tuesday, September 2. The issue closes on September 4.

The initial public offer consists of a fresh issuance of ₹80.81 crore as well as an offer for sale (OFS) of ₹18.96 crore. The total IPO size is ₹99.77 crore.

Under the OFS, Purushottam Dass Goel, Arun Kumar Goel, Nirmala Goel, Naresh Kumar Goel, Amit Goel, Anuj Goel, Ashwani Goel, Vijay Kumar Goel, Prem Goel, Kusum Goel and Gargi Goel will offload their stake.

The money generated will be used for capital expenditure towards the purchase of additional fleets and equipment, debt clearance, and general corporate purposes.

Goel Construction IPO: Lot size

A lot consists of 400 shares. Individual investors can apply for at least two lots or 800 shares. For high net worth individuals, the minimum investment is 1,200 shares.

Goel Construction IPO timeline: Allotment and listing dates

Srujan Alpha Capital Advisors LLP is the IPO's book-running lead manager, while MUFG Intime India Private Limited is the registrar.

About Goel Construction

Goel Construction is a construction contractor, having experience in infrastructure projects and construction of industrial plants. It primarily constructs power plants, cement plants, dairy plants and other industrial plants.

In the past four years, it has delivered 19 projects with an aggregate contract value of ₹1,134.99 crore. It has 14 ongoing projects with an order book of ₹596.60 crore.

Goel Construction IPO GMP

According to media reports and investorgain.com, Goel Construction's unlisted shares are trading at ₹320 per share, reflecting a grey market premium of 22.14% over the upper price band of ₹262.