Globe Civil Projects IPO Subscribed 26x – Here's What You Should Know

The ₹119 crore IPO of Globe Civil Projects has seen a strong response, getting subscribed over 26 times on the final day (June 26). Key Subscription Highlights: • Total bids: 30.76 crore shares vs 1.17 crore on offer • NII (HNI) portion: Subscribed 48x • Retail: Subscribed 26x • QIBs (Institutions): Subscribed 9x IPO Details: • Price band: ₹67 – ₹71 • Minimum investment: ₹14,981 (for 211 shares) • IPO period: June 24 to June 26 • Listing date: Likely July 1 on BSE and NSE • Use of funds: Working capital, buying construction equipment, and general corporate use What does the company do? Globe Civil Projects is a New Delhi-based EPC (Engineering, Procurement & Construction) company. It works on civil construction projects like: • Educational institutes • Residential & commercial buildings • MEP services (Mechanical, Electrical, Plumbing) Currently, the company has 13 ongoing projects, and its order book is worth ₹669 crore as of March 2025. Grey Market Premium (GMP): • GMP is around ₹15–₹18, indicating a 21% premium over issue price • Shows positive sentiment, but not a guarantee of listing gains Bottom Line: The IPO has strong demand and positive market sentiment. But the company is small, with moderate financials and high competition. Well-informed investors may consider applying with a long-term outlook and moderate expectations.