Globe Civil Projects IPO: Check GMP, Price Band & Other Key Details

The initial public offering (IPO) of Globe Civil Projects IPO, which is set to open for bidding on Friday, June 24, is commanding a grey market premium (GMP) of Rs 13 as of Monday.

Based on the issue's upper price band of Rs 71 and the present Globe Civil Projects IPO GMP, the estimated listing price for the company shares stands at Rs84 per a piece, which translates into 18.31 premium over the issue. The GMP reflects investors willingness to pay beyond the IPO price, indicating positivity surrounding the launch.

Globe Civil Projects IPO details

The IPO will open for bidding on Tuesday, June 24, and remain open until Thursday, June 26. The company aims to raise Rs 119 crore, which is entirely a fresh issue of 1.68 crore shares.

It proposes to use the IPO proceeds to fund working capital requirements, capital expenditure towards the purchase of construction equipment/machinery, and general corporate purposes.

The issue has reserved 50 per cent of the shares for qualified institutional buyers (QIB), 35 per cent for retail investors, and 15 per cent for non-institutional institutional investors (NII).

Retail investors can participate in the issue with a minimum investment of Rs 14,981 per lot, which consists of 211 shares. Investors can bid on up to 13 lots, which requires an investment of Rs 194,753.

Globe Civil Projects share price is likely to be listed on both Indian stock market bourses BSE and NSE on Tuesday, July 01.

Globe Civil Projects Allotment Details

Tentatively, Globe Civil Projects IPO basis of allotment of shares will be finalized on Friday, June 27, and the company will initiate refunds on Monday, June 30, while the shares will be credited to the demat account of allottees on the same day following the refund.

Globe Civil Projects, incorporated in 2002, is an integrated engineering, procurement, and construction (EPC) company headquartered in New Delhi. The company is involved in the execution and construction of infrastructure projects comprising transport and logistics projects, social and commercial projects, and non-infrastructure projects comprising commercial offices and housing.

What You Need To Know About Globe Civil Projects?

Globe Civil Projects, incorporated in 2002, is an integrated engineering, procurement, and construction (EPC) company headquartered in New Delhi. The company is involved in the execution and construction of infrastructure projects comprising transport and logistics projects, social and commercial projects, and non-infrastructure projects comprising commercial offices and housing.