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Stock Report
Globe Civil Projects Lists at 28% Premium on BSE and NSE
Posted On : 2025-07-01 19:04:17( TIMEZONE : IST )
Civil construction and infrastructure development company Globe Civil Projects Limited made a stellar debut on the BSE and NSE today, listing at a premium of over 28% against the issue price of ₹71 per share. The stock opened at ₹91.10 on the BSE and ₹90 on the NSE, reflecting strong investor sentiment and significant oversubscription during the IPO process. At the time of listing, the company's market valuation stood at ₹543.44 crore.
The company had fixed the price band at ₹67-71 per share for its public issue, which comprised a fresh issue of up to 1,67,60,560 equity shares of face value ₹10 each through the book-building route. Mefcom Capital Markets Limited acted as the lead manager to the issue. The IPO saw overwhelming demand across investor categories, with the Qualified Institutional Buyers (QIB) portion subscribed 99.76 times, Non-Institutional Investors (NII) segment subscribed 143.14 times, and the Retail Individual Investors (RII) segment subscribed 53.72 times. The overall subscription stood at 86.04 times on the final day of bidding.
According to the company, the IPO proceeds will be used to support its business expansion plans. Of the total proceeds, ₹75 crore will be allocated towards meeting working capital requirements, ₹14.26 crore will be used for capital expenditure to purchase construction equipment and machinery, and the remaining funds will go towards general corporate purposes and issue-related expenses.
Globe Civil Projects Limited has a strong track record in executing civil infrastructure projects across India, and the enthusiastic market debut underscores investor confidence in the company's fundamentals and future growth prospects.
Shares of Globe Civil Projects Limited was last trading in BSE at Rs. 94.72 as compared to the previous close of Rs. 0.00. The total number of shares traded during the day was 1502860 in over 12202 trades.
The stock hit an intraday high of Rs. 95.00 and intraday low of 86.65. The net turnover during the day was Rs. 135681548.00.
