Globe Civil Projects sets IPO price band at ₹67-71 to raise ₹119 crore

Globe Civil Projects Ltd, a civil construction and infrastructure development company, on Tuesday said it has fixed the price band at Rs 67-71 per equity share for its forthcoming initial public offering (IPO).

The issue will open for subscription on June 24 and will close on June 26, the company said in a statement.

The company will fetch about Rs 119 crore at the upper end of the price band.

Its shares will be listed on BSE and NSE.

The funds will be raised through entirely fresh issuance of shares up to 16,760,560 equity shares of face value Rs 10 each, it said.

Globe Civil Projects Ltd intends to utilise Rs 75 crore of the IPO proceeds for funding working capital requirements, Rs 14.26 crore for capital expenditure towards the purchase of construction equipment/machinery, while the remaining funds will be used for general corporate purposes and issue expenses, it added.

For the nine months ended December 31, 2024, Globe Civil Projects posted a revenue from operations of Rs 254.65 crore and a profit after tax of Rs 17.78 crore.

The company has successfully completed 37 projects over the last two decades and is currently managing 13 ongoing projects across key infrastructure segments, working with reputed clients nationwide.

As of March 31, 2025, the company's consolidated order book stood at Rs 669.10 crore, reflecting a pipeline of ongoing and upcoming projects.