BSE SME Goel Construction Company builds a towering debut on Dalal Street

Shares of Goel Construction Company was trading at Rs 317.60 on the BSE, a premium of 20.76% compared with the issue price of Rs 263.

The scrip was listed at Rs 302.50, a premium of 15.02% compared with the initial public offer (IPO) price. The stock is currently frozen at its upper limit of 5% over its listing price.

The counter hit a high of Rs 317.60 and a low of Rs 302.05. About 15.70 lakh shares of the company changed hands at the counter.

Goel Construction Company's IPO was subscribed 115.77 times. The issue opened for bidding on 2 September 2025 and it closed on 4 September 2025. The price of the IPO was fixed between Rs 250-263 per share.

The IPO comprised fresh issue of 30,84,400 shares and offer for sales (OFS) upto 7,23,600 shares. The promoter shareholding in the company diluted to 69.63% post-IPO from 95.99% pre-IPO.

Ahead of the IPO, Goel Construction Company on 1 September 2025 raised Rs 27.39 crore from anchor investors. The board allotted10.62 lakh shares at Rs 263 each to 9 anchor investors.

The company intends to utilize the net proceeds to purchase additional equipments and fleets, repayment or prepayment of certain outstanding borrowings availed by the company and general corporate purposes.

Goel Construction Company is engaged in construction of cement plant, power plant and dairy plant and other industrial plants. As on 30th June 2025, the company has 1,191 permanent employees. The company has 14 ongoing projects across eight states in India, with an order book of Rs 596.60 crore.

The company recorded revenue from operations of Rs 589.98 crore and net profit of Rs 38.32 crore for the period ended 31 March 2025.

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