The Globe Civil Projects IPO has been nothing short of electrifying. In just two days, investor demand skyrocketed, with the issue oversubscribed over 15 times and a jaw‑dropping 21% grey market premium (GMP) — setting the stage for a blockbuster listing. Here’s everything you need to know:
Stellar Subscription Momentum
Since its opening on June 24, the Rs 119 crore IPO has taken the market by storm. By June 25, bids had exceeded the offer by 15.27×, including 16.7× in retail and a staggering 21 × from non‑institutional investors (NIIs). Qualified Institutional Buyers (QIBs) added their part with 8.15× bids.
On the final day, June 26, data revealed around 17.9 crore shares were bid against 1.17 crore available, confirming a solid 15.26× subscription.
Grey Market Premium Climbs
Investors are buzzing—unofficial trades priced shares at ₹86, ₹15 above the top ₹71 band, a 21% GMP. That premium signals strong listing optimism on July 1.
Key Dates & Pricing
- Price band: ₹67–71/share
- Lot size: 211 shares (≈₹14,981 at upper band)
- Subscription period: Jun 24–26, 2025
- Allotment: Jun 27, 2025 (expected)
- Listing & credit: Demat credits/reservations on Jun 30 and NSE/BSE listing on Jul 1, 2025
Business Snapshot
Delhi‑based Globe Civil Projects operates across 11 states, executing government EPC projects spanning roads, bridges, flyovers, sewerage, railway terminals, hospitals, and commercial infrastructure. Since 2002, it has delivered 55+ projects, with a strong ₹900 crore order book as of FY 24.
Analysts from Canara Bank Securities note its EPS-based valuation at ~20× FY 24 P/E—roughly in line with peers—while its P/B of ~4× slightly exceeds the sector average of 3×. Its margin robustness, with EBITDA at 33% in FY 24, underpins its credibility.
Why This IPO Excites
- High GMP shows early investor confidence and hints at bumper listing gains.
- Strong execution in government infrastructure makes it a rare small‑cap gem with solid fundamentals.
- Growth capital from fresh shares aims to boost working capital and acquire modern construction machinery.
- Broker support: Analysts recommend “long‑term subscribe,” highlighting growth potential despite some leverage concerns.
Investor Takeaway
If you’re eyeing a strategic gain in the infrastructure sector, Globe Civil Projects offers both momentum and substance. That said, it’s still a small‑cap realty play observed by analysts for prudent leverage and order execution. With allotments due by June 27, your next big decision comes tomorrow — will you ride the wave or wait for the listing splash?