Globe Civil Projects IPO Closes with 86x Subscription; Heavy Demand Across Investor Segments
By HDFC SKY | Updated at: Jun 27, 2025 12:24 AM IST
New Delhi, June 26, 2025 – The IPO of Globe Civil Projects Limited closed today with an extraordinary overall subscription of 86.04 times, marking one of the most oversubscribed issues in recent months. Final day bidding saw an intense surge, especially from qualified institutional buyers (QIBs) and high net-worth individuals (HNIs), pushing cumulative bids past the 100.94 crore mark against an issue size of 1.17 crore shares.
Final Subscription Snapshot (June 26, 2025 | 17:09 IST)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutional Buyers | 33,52,112 | 33,44,22,551 | 99.76 |
| Non-Institutional Investors | 25,14,084 | 35,98,77,169 | 143.14 |
| Retail Individual Investors | 58,66,196 | 31,51,32,509 | 53.72 |
| Total | 1,17,32,392 | 1,00,94,32,229 | 86.04 |
QIBs Nearly Hit 100x as Institutional Participation Soars
The Qualified Institutional Buyers (QIBs) category ended just shy of 100x, with bids totaling 33.44 crore shares for an allocation of 33.52 lakh shares.
- FIIs contributed over 3.28 crore shares
- Banks and financial institutions bid for a massive 15.84 crore shares
- The ‘Others’ segment, likely including pension and alternative funds, added 14.30 crore bids
Despite no recorded participation from mutual funds, the figures underscore strong institutional conviction in the company’s prospects.
Non-Institutional Investors Oversubscribe by 143x
Non-Institutional Investors (NIIs), including HNIs and large corporates, submitted bids for 35.98 crore shares, subscribing their portion 143.14 times.
- Bids from investors above ₹10 lakh stood at 23.28 crore shares, or 138.90x of that bucket
- Mid-sized bidders (₹2–₹10 lakh) posted 12.70 crore bids, or 151.63x
This segment was primarily driven by individuals, who contributed over 34 crore shares combined across both brackets.
Retail Investors Bid Aggressively at 53.72x
Retail participation also remained elevated with 31.51 crore bids against an allocation of 58.66 lakh shares, resulting in 53.72 times subscription.
- Cut-off price bids dominated, accounting for 26.65 crore shares
- Another 4.86 crore bids were made at specific price points within the ₹67–₹71 band
Aggregate Bidding Overview
- Total issue size: 1,17,32,392 shares
- Total bids received: 1,00,94,32,229 shares
- Overall subscription: 86.04x
This includes broad-based interest across price levels and investor categories, indicating overwhelming demand despite market volatility.
What Next
With such strong oversubscription, allotment is likely to be highly competitive, especially for retail applicants. The basis of allotment is expected to be finalised by early next week, with shares likely to be listed on both NSE and BSE in the first week of July.
The strong close also raises expectations of a premium listing, depending on secondary market conditions and investor sentiment closer to the debut.
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