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Goel Construction IPO
₹1,00,000/400 shares
Minimum Investment
IPO Details
02 Sep 25
04 Sep 25
₹1,00,000
400
₹250 to ₹262
BSE
₹99.77 Cr
10 Sep 25
Goel Construction IPO Timeline
Bidding Start
02 Sep 25
Bidding Ends
04 Sep 25
Allotment Finalisation
08 Sep 25
Refund Initiation
09 Sep 25
Demat Transfer
09 Sep 25
Listing
10 Sep 25
Goel Construction Company Limited
Goel Construction Company Limited (GCCL), established in 1997, is a leading construction and infrastructure firm operating across multiple sectors, including cement plants, power plants, dairies, hospitals, steel, pharmaceuticals, and institutional projects. The company has completed 19 projects with a total contract value of ₹1,13,499.37 lakhs and is currently executing 14 ongoing projects across eight states, supported by an order book of ₹59,660.28 lakhs, ensuring strong revenue visibility. With a fleet of 202 equipment units and a workforce of 1,191 employees, GCCL delivers projects efficiently, on time, and across pan-India locations.
Goel Construction Limited IPO Overview
Goel Construction Co. Limited is launching a book-built IPO worth ₹99.77 crores, comprising a fresh issue of 0.31 crore shares aggregating ₹80.81 crores and an offer for sale of 0.07 crore shares totaling ₹18.96 crores. The IPO will open for subscription on 2 September 2025 and close on 4 September 2025, with allotment expected to be finalised on 8 September 2025. The shares are scheduled to list on BSE SME on 10 September 2025. The issue price band is fixed between ₹250 and ₹262 per share, with a lot size of 400 shares.
For retail investors, the minimum investment is ₹2,09,600 for 800 shares at the upper price band, while HNIs must invest in a minimum of 3 lots (1,200 shares), amounting to ₹3,14,400. Srujan Alpha Capital Advisors LLP is appointed as the book running lead manager, MUFG Intime India Pvt. Ltd. as the registrar, and Choice Equity Broking Pvt. Ltd. serves as the market maker for the issue.
Goel Construction Company Limited IPO Details
| Particulars | Details |
| IPO Date | 2 September 2025 to 4 September 2025 |
| Listing Date | 10 September 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹250 to ₹262 per share |
| Lot Size | 400 Shares |
| Total Issue Size | 38,08,000 shares (aggregating up to ₹99.77 Cr) |
| Fresh Issue | 28,94,000 shares (aggregating up to ₹75.82 Cr) |
| Offer for Sale | 7,23,600 shares (aggregating up to ₹18.96 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,13,65,200 shares |
| Share Holding Post Issue | 1,44,49,600 shares |
| Market Maker Portion | 1,90,400 shares |
Goel Construction Company Limited IPO Reservation
| Investor Category | Shares Offered |
| Market Maker | 1,90,400 (5.00%) |
| QIB | 17,70,000 (46.48%) |
| NII (HNI) | 5,31,600 (13.96%) |
| Retail | 12,40,000 (32.56%) |
| Employee | 76,000 (2.00%) |
| Total Shares Offered | 38,08,000 (100.00%) |
Goel Construction Company Limited IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 800 | ₹2,09,600 |
| Retail (Max) | 2 | 800 | ₹2,09,600 |
| S-HNI (Min) | 3 | 1,200 | ₹3,14,400 |
| S-HNI (Max) | 9 | 3,600 | ₹9,43,200 |
| B-HNI (Min) | 10 | 4,000 | ₹10,48,000 |
| Employee (Min) | 2 | 800 | ₹2,09,600 |
| Employee (Max) | 4 | 1,600 | ₹4,19,200 |
Goel Construction Company Limited IPO Promoter Holding
| Shareholding Status | Percentage |
| Pre-Issue | 97.70% |
| Post-Issue | To be calculated based on equity dilution |
Goel Construction Company Limited IPO Valuation Overview
| KPI | Value |
| EPS (Pre IPO) | 33.72 |
| EPS (Post IPO) | 26.52 |
| P/E Ratio | 7.77 (Pre IPO), 9.88 (Post IPO) |
| RoNW | 34.09% |
| ROCE | 33.69% |
| Debt/Equity Ratio | 0.22 |
| PAT Margin | 6.50% |
| EBITDA Margin | 9.81% |
| Price to Book Value | 2.26 |
Objectives of the Proceeds
- Capital expenditure for additional equipment and machinery purchase – ₹41.74 Cr
- Repayment or prepayment of certain existing borrowings – ₹23.05 Cr
- General corporate purposes
Key Financials (₹ Crore)
| Particulars | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 265.09 | 219.51 | 205.04 |
| Revenue | 594.34 | 388.79 | 272.94 |
| Profit After Tax | 38.32 | 22.64 | 14.30 |
| Reserves and Surplus | 120.22 | 92.23 | 69.59 |
| Total Borrowings | 28.71 | 30.51 | 28.51 |
SWOT Analysis of Goel Construction IPO
Strength and Opportunities
- Strong project management ensures timely completion of diverse projects nationwide
- Established long-term client relationships across multiple industrial and government sectors
- Robust order book provides predictable revenue visibility over medium term
- Experienced management with efficient fleet utilization enhances operational efficiency
- Opportunities in expanding pan-India industrial and infrastructure projects.
Risks and Threats
- Heavy reliance on construction sector exposes company to cyclical downturns
- High competition from other infrastructure and construction firms
- Project delays due to regulatory or logistical challenges can affect profitability
- Labour shortages or rising equipment costs may increase project expenditure
- Exposure to material price volatility could impact margins.
Explore IPO Opportunities
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About Goel Construction Company Limited
Goel Construction Company IPO Strengths
- Excellent project management ensures timely, high-quality execution across all ongoing projects.
- Maintains enduring relationships with clients across diverse industrial and government sectors.
- Strong order book guarantees predictable revenue and business growth visibility.
- Demonstrates consistent financial performance with steady profitability and operational efficiency.
- Efficiently operates a large fleet, optimising machinery and equipment utilisation.
Peer Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) |
| Goel Construction Company | 33.72 | 33.72 | 115.78 | 7.77 | 34.09 |
| Peer Group | |||||
| Power Mech Projects | 95.05 | 95.05 | 665.90 | 33.03 | 14.27 |
| Suntech Infra Solutions | 7.98 | 7.98 | 32.74 | 8.77 | 24.05 |
| Ahluwalia Contracts (India) | 30.08 | 30.08 | 268.71 | 31.52 | 11.19 |
How to apply IPO with HDFC SKY?
Follow these simple steps to apply for an IPO through HDFC SKY. Secure your investments and explore new opportunities with ease by accessing the IPOs available on the platform.
1Login to your HDFC SKY Account
2Select Issue
3Enter Number of Lots and your Price.
4Enter UPI ID
5Complete Transaction on Your UPI App
FAQs On Goel Construction IPO
How can I apply for Goel Construction IPO?
You can apply via HDFC Sky using UPI-based ASBA for a smooth and secure subscription process.
What is the minimum investment for retail investors?
Retail investors must apply for at least 2 lots of 800 shares, totaling ₹2,09,600 at upper price band.
When will the shares be credited to Demat accounts?
Shares will be credited to investor Demat accounts on 9 September 2025 after allotment and refund initiation.
On which stock exchange will Goel Construction IPO be listed?
The shares will be listed on the BSE SME platform, tentatively on 10 September 2025.
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