Globe Civil Projects shares hit 5% lower circuit after settling 33% higher on listing day

Shares of Globe Civil Projects Ltd, the civil construction and infrastructure development company, were locked in the lower circuit limit of 5% at ₹89.73 apiece on the NSE in the opening deals on Wednesday, July 2, after the company's impressive debut on the bourses on Tuesday.

The fall in stock could be attributed to profit booking by market participants, as a majority of investors invest in the IPOs for listing gains. Once the stock is listed at a decent price, many investors opt for partial as well as full profit booking in the stock.

The company's shares ended with a premium of over 33% in their market debut as against the issue price of ₹71.

On the BSE, the stock was listed at ₹91.10, a premium of 28.30% against the issue price. Intraday, it surged 33.80% to ₹95. Shares of the firm ended at ₹94.72 apiece, up 33.40%.

The company's stock made its market debut at ₹90, rallying 26.76% from the issue price on the NSE. It finally ended at ₹94.46 a share, a jump of 33%.

The company's market valuation stood at ₹565.66 crore.

The initial share sale of Globe Civil Projects Ltd received a whopping 86 times subscription on the closing day of bidding on Thursday last week.

The ₹119 crore initial public offering (IPO) had a price range of ₹67-₹71 per share.

The portion for non-institutional investors received 143.14 times the subscription, while the category for qualified institutional buyers (QIBs) got subscribed 99.76 times. Retail individual investors (RIIs) part fetched 53.71 times the subscription.

Globe Civil Projects Ltd intends 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, according to a company's statement.

Globe Civil Projects Financials

For the nine months ended December 31, 2024, Globe Civil Projects posted a revenue from operations of ₹254.65 crore and a profit after tax (PAT) of ₹17.78 crore.

The company has successfully completed 37 projects over the last two decades and is currently managing 13 ongoing projects across key infrastructure segments, working with reputed clients nationwide.

As of March 31, 2025, the company's consolidated order book stood at ₹669.10 crore, reflecting a pipeline of ongoing and upcoming projects.