Globe Civil Projects, whose IPO was subscribed 86x, in focus today on order win in Haryana; key details to know

The work order has been awarded by the Haryana Cricket Association for the construction of an international cricket stadium at Lohat in the Jhajjar district of the state, the EPC player said in a statement.

The value of the contract stands at ₹222.20 crore with a stipulated completion period of 24 months.

"The project marks our entry into the sports infrastructure segment and reflects the confidence of our stakeholders in our ability to deliver large-scale assignments with precision and reliability," the company's Chairman and Whole-time Director, Ved Prakash Khurana, said.

Globe Civil Projects is an integrated engineering, procurement, and construction (EPC) company engaged in executing diverse infrastructure and non-infrastructure projects across India.

About Civil Projects IPO and listing

The initial share sale of civil construction and infrastructure development company Globe Civil Projects Ltd received a whopping 86.03 times subscription on the closing day of bidding.

The ₹119 crore initial public offer (IPO) got bids for 100,93,92,350 shares against 1,17,32,392 shares on offer, according to data available with the NSE.

The portion for non-institutional investors received a whopping 143.14 times subscription, while the category for Qualified Institutional Buyers (QIBs) got subscribed 99.76 times. The retail Individual Investors (RIIs) part fetched a 53.71 times subscription.

The IPO of up to 1,67,60,560 equity shares had a price range of ₹67-₹71 per share.

Globe Civil Projects Ltd said that it intended to utilise ₹75 crore of the IPO proceeds for funding working capital requirements, ₹14.26 crore for capital expenditure towards the purchase of construction equipment/machinery, and the remaining funds will be used for general corporate purposes and issue expenses.

Listing details

On July 1, 2025, shares of the civil construction and infrastructure development company jumped over 28% in their market debut as against the issue price of ₹71.

On the BSE, the stock listed at ₹91.10, a premium of 28.30% against the issue price.

Shares of the firm made their market debut at ₹90, rallying 26.76% from the issue price on the NSE.