Globe Civil Projects Ltd Gears Up for IPO with Price Band Set at Rs 67-71

Globe Civil Projects Ltd, a civil construction firm, announces an IPO price band at Rs 67-71 per share. The IPO opens on June 24, aiming to raise Rs 119 crore. Funds will be used for working capital, equipment purchase, and general expenses. The company posted strong revenues and profits, and maintains a robust order book.

Globe Civil Projects Ltd, a renowned name in civil construction and infrastructure, has announced its upcoming initial public offering (IPO) with a price band set at Rs 67-71 per equity share. The IPO will open for public subscription on June 24 and close on June 26, as per the company's official statement.

The firm aims to raise approximately Rs 119 crore if the shares are sold at the higher end of the range. The shares, upon issuance, will be listed on both BSE and NSE. This IPO comprises an entirely fresh issue of up to 16,760,560 equity shares, each having a face value of Rs 10.

The company plans to allocate Rs 75 crore from the IPO proceeds towards funding its working capital needs and Rs 14.26 crore for capital expenditures, particularly in construction equipment and machinery. The rest will be geared toward general corporate purposes and IPO-related expenses. With Rs 254.65 crore in revenue and Rs 17.78 crore in profit reported for the nine months ending December 2024, Globe Civil Projects has completed 37 projects over 20 years and currently has 13 active projects nationwide.

(With inputs from agencies.)