The IPO of Globe Civil Projects saw an overwhelming response from all categories of investors, with aggressive bids by qualified institutional buyers (QIBs) on day 1 itself. The IPO was subscribed nearly 15.27 times, with the QIB portion receiving bids over eight times. Retail and HNIs also showed strong interest in the IPO, as their respective portions received bids for 21.32 times and 6.74 times, respectively. As against 1.17 crore shares on offer, the IPO received bids for 17.91 crore shares.
Globe Civil Projects plans to raise ₹119 crore through the IPO, which 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
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 Ltd is the book-running lead manager of the Globe Civil Projects IPO, while KFin Technologies Limited is the issue’s registrar.