Globe Civil Projects IPO Opens Today with Price Band of ₹67–₹71 Per Share

Globe Civil Projects Ltd, an integrated engineering, procurement, and construction (EPC) firm, opened its ₹119 crore Initial Public Offering (IPO) for public subscription today, June 24.  The company has set the price band for the offering at ₹67 to ₹71 per share. The company aims to bolster its capital base and fund future expansion by issuing 1.68 crore fresh equity shares.

IPO Details: Price Band, Lot Size, and Subscription Structure

The price band has been fixed at ₹67–₹71 per share, and investors can place bids in a lot size of 211 shares, with multiples thereof. The shares from the Globe Civil Projects IPO will be listed on both the BSE and NSE.

The issue has been structured as follows:

• Up to 50% reserved for Qualified Institutional Buyers (QIBs)
• At least 15% for Non-Institutional Investors (NIIs)
• At least 35% for Retail Individual Investors (RIIs)

The Globe Civil Projects IPO window closes on June 26, 2025.

Strong Anchor Response with ₹35.70 Crore Raised

Globe Civil Projects raised ₹35.70 crore via its anchor book on June 23, reflecting institutional confidence in the offering. A total of six entities participated in the anchor round, including:

• Chanakya Opportunities Fund I (a Category II AIF managed by StepTrade Share Services), receiving 21% of the anchor allocation
• Maybank (Malaysia-based investment bank)
• Benani Capital
• Steptrade Capital
• Lords Multigrowth Fund
• Compact Structure Fund

Utilisation of IPO Proceeds

The company will deploy the funds towards:

• Capital expenditure and infrastructure development
• Procurement of equipment and machinery
• General corporate purposes

These investments are part of the company’s broader strategy to enhance operational efficiency and project execution capacity.

Registrar and Lead Manager

• MEFCOM Capital Markets Limited is acting as the book-running lead manager
• KFin Technologies Limited has been appointed as the registrar for the issue

With the IPO opening today, Globe Civil Projects marks a key step in its growth strategy by tapping into the capital markets to fund expansion and operational needs.

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