The initial public offering (IPO) of construction company Globe Civil Projects Limited continued to attract strong investor interest as it entered its final day of bidding on Thursday, 26 June 2025.
The public issue, which opened for the public on Tuesday, aims to raise ₹119 crore through a fresh issue of equity shares and is proposed to be listed on both the BSE and NSE.
The company has set the price band at ₹67 to ₹71 per share, with one lot comprising of 211 shares. By 12:06 a.m. on Day 3 of the bidding process, the IPO had already been subscribed 27.83 times, with the retail investor segment seeing 27.81 times subscription, the non-institutional investor (NII) portion oversubscribed 52.75 times, and the qualified institutional buyer (QIB) category subscribed 9.17 times.
Taking a cue from Globe Civil Projects’ grey market performance, the IPO has been commanding a premium of ₹16, indicating bullish sentiment from the investors. This could suggest strong expectations for listing gains when the stock debuts on the bourses, which is likely to be on 1 July.
The allotment of shares is expected to be finalised on 27 June 2025. Kfin Technologies Limited is acting as the official registrar of the issue, while Mefcom Capital Markets has been appointed as the lead manager.
The robust response underscores investor appetite for infrastructure-focused companies, particularly as public and private sector investments in civil projects continue to rise. Globe Civil Projects, which is tapping the capital markets for the first time, specialises in executing engineering, procurement, and construction (EPC) contracts across segments like roads, buildings, and utilities.