The IPO of Globe Civil Projects was subscribed heavily on Day 1, with aggressive bids by qualified institutional buyers (QIBs). The IPO was subscribed nearly seven times, with the QIB portion receiving bids eight times. Retail and HNIs also showed strong interest in the IPO.
Globe Civil Projects’ IPO, which opened to raise ₹119 crore, will close on Thursday. The issue is entirely a fresh issue of 1.68 crore shares. The price band for the IPO is set at ₹67 to ₹71 per share, and shares will be listed on the BSE and the National Stock Exchange.
The minimum lot size for an application is 211.
The IPO received bids for about 8/18 crore shares as against 1.17 crore shares on offer. While the retail portion was subscribed 5.83 times, the NIIs quota was 8.16 times.
Globe Civil Projects Limited raised ₹35.70 crore through its anchor book on June 23, 2025, with participation from six entities comprising AIFs and FPIs. Chanakya Opportunities Fund I, a Category II Alternative Investment Fund (AIF) managed by StepTrade Share Services, was allotted 21% of the anchor portion. Other investors include Malaysian investment bank Maybank, Benani Capital, Steptrade Capital, Lords Multigrowth Fund and Compact Structure Fund.
The company plans to use the proceeds to fund capital expenditures, purchase equipment and machinery, and allocate funds for general corporate purposes.
MEFCOM Capital Markets Limited is the book-running lead manager of the Globe Civil Projects IPO, while Kfin Technologies Limited is the issue’s registrar.