Civil construction and infrastructure firm Globe Civil Projects Limited made an impressive debut on the BSE and NSE today, listing at a 28% premium over its IPO price of ₹71 per share. The stock opened at ₹91.10 on BSE and ₹90 on NSE, reflecting robust investor demand and positive market sentiment. At listing, the company was valued at ₹543.44 crore.
The IPO, which offered a fresh issue of 1.67 crore equity shares, witnessed strong participation across investor categories. The issue was subscribed 86.04 times overall, with QIBs subscribing 99.76 times, NIIs 143.14 times, and retail investors 53.72 times. Mefcom Capital Markets Limited acted as the lead manager.
Proceeds from the IPO will support the company’s expansion plans, with ₹75 crore earmarked for working capital, ₹14.26 crore for purchasing construction machinery, and the remainder for general corporate purposes.
With a proven track record in executing infrastructure projects nationwide, Globe Civil Projects’ stellar listing highlights investor confidence in its growth potential and business fundamentals.
