Globe Civil Projects IPO: GMP, Price Band, and Must-Know Details: Are you eyeing the Globe Civil Projects IPO but feeling overwhelmed by the flood of information? With the IPO market buzzing in 2025, Globe Civil Projects Ltd. is set to make waves with its ₹119 crore public offering. Whether you’re a retail investor hunting for listing gains or a long-term player seeking a solid infrastructure bet, understanding the GMP, price band, and must-know details is crucial. This article breaks down everything you need to know about the Globe Civil Projects IPO, offering clear insights backed by data and expert analysis to help you make an informed decision.

What is the Globe Civil Projects IPO?

The Globe Civil Projects IPO is a mainboard initial public offering by Globe Civil Projects Ltd., a New Delhi-based engineering, procurement, and construction (EPC) company. Launched to raise ₹119 crore through a fresh issue of 1.68 crore equity shares, the IPO opened for subscription on June 24, 2025, and closed on June 26, 2025. The shares are set to list on the BSE and NSE on July 1, 2025.

Key IPO Details at a Glance

The funds raised will be used for:

• ₹75 crore for working capital requirements.
• ₹14.26 crore for capital expenditure on construction equipment.
• Remaining for general corporate purposes and issue expenses.

Understanding the Globe Civil Projects IPO GMP

The Grey Market Premium (GMP) is a key indicator of investor sentiment before an IPO lists. It reflects the price at which unlisted shares trade in the unofficial grey market, hinting at potential listing gains.

Current GMP Trends for Globe Civil Projects IPO

As of June 23, 2025, the Globe Civil Projects IPO GMP ranges between ₹7 and ₹13, with some sources reporting a high of ₹84 (18.31% premium over the upper price band of ₹71). This translates to an estimated listing price of ₹78–₹84 per share, suggesting listing gains of 10–18.31%. However, GMP is volatile and not a guaranteed predictor of listing performance.

• June 17, 2025: GMP was ₹0, indicating flat trading at ₹71.
• June 18, 2025: GMP rose to ₹9, suggesting a listing price of ₹80 (12.68% gain).
• June 20, 2025: GMP peaked at ₹12, with a 17% expected return.
• June 23, 2025: GMP reported at ₹13 by some analysts, while others cited ₹84.

Note: GMP is unofficial and subject to change. Always consider company fundamentals over GMP alone.

What Does the GMP Tell Us?

A GMP of ₹13 indicates moderate investor interest, driven by Globe Civil Projects’ strong order book and growth in India’s infrastructure sector. However, the wide range (₹7–₹84) suggests uncertainty. Investors should weigh GMP alongside financials and risks.

Globe Civil Projects IPO Price Band: Is It Fairly Priced?

The price band for the Globe Civil Projects IPO is set at ₹67–₹71 per share, with a face value of ₹10. At the upper end, the IPO is valued at a market capitalization of ₹424 crore and a P/E ratio of 19.83x based on FY24 earnings (EPS ₹3.58) or 17.88x on projected FY25 earnings.

Valuation Analysis

• P/E Ratio: At 19.83x (FY24) and 17.88x (FY25), the IPO appears reasonably priced compared to peers like Larsen & Toubro (P/E ~30x) and NCC Ltd. (P/E ~25x).
• Order Book: As of August 31, 2024, the company’s order book stood at ₹892.95 crore, providing revenue visibility.
• Revenue Growth: Revenue grew from ₹235.17 crore in FY23 to ₹334.81 crore in FY24 (CAGR 7.8%), with PAT surging from ₹4.85 crore to ₹15.38 crore (CAGR 72%).

Must-Know Details About Globe Civil Projects Ltd.

Founded in 2002, Globe Civil Projects Ltd. is an integrated EPC company operating across 11 Indian states, including Uttar Pradesh, Haryana, Delhi, and Maharashtra. It specializes in infrastructure (railway bridges, airport terminals) and non-infrastructure projects (commercial offices, housing).

Business Highlights

• Project Portfolio: Completed 37 projects, with 12 ongoing as of August 2024.
• Key Clients: Central Public Works Department (CPWD), NBCC (India) Ltd., South Central Railway.
• Diversification: Expanded from educational institutions to railway infrastructure, hospitals, and airports.
• Order Book: ₹892.95 crore as of August 31, 2024, with 9 infrastructure and 5 non-infrastructure projects.
• Accreditation: Class I Super Contractor status enhances competitiveness.

Financial Performance

The company’s revenue and PAT have grown at a CAGR of 7.8% and 72% (FY22–FY24), respectively, though FY23 saw a dip due to project delays.

Risks to Consider

• Dependence on CPWD: 29.77% (FY24) to 57.48% (FY23) of revenue comes from CPWD projects. A slowdown in CPWD contracts could hurt growth.
• High Debt: Debt-to-equity ratio of 1.4x (December 2024) is higher than peers.
• Legal Issues: Promoters Ved Khurana and Vipul Khurana face a civil suit for a ₹91 lakh loan default, which may impact investor confidence.
• Competition: Operates in a price-sensitive industry with competitors like L&T and NCC.

How to Apply for the Globe Civil Projects IPO

Applying for the Globe Civil Projects IPO is straightforward. Retail investors need a minimum of 211 shares (₹14,981 at ₹71).

Steps to Apply via Zerodha

1. Log in to Zerodha Console.
2. Navigate to “Portfolio” and click “IPOs.”
3. Select “Globe Civil Projects IPO” and click “Bid.”
4. Enter UPI ID, quantity (211 shares or multiples), and price (₹71 for cutoff).
5. Submit and approve the mandate via your UPI app.

Alternatively, use ASBA through net banking or brokers like Upstox or 5Paisa.

Allotment and Listing Timeline

• Allotment Date: June 27, 2025
• Refund Date: June 30, 2025
• Demat Credit: June 30, 2025
• Listing Date: July 1, 2025

Check allotment status on KFin Technologies’ website.

Case Study: Comparing Globe Civil Projects IPO to Peers

To gauge the Globe Civil Projects IPO’s potential, let’s compare it to a recent EPC IPO, NCC Ltd.’s 2023 IPO.

• Issue Size: NCC raised ₹1,000 crore vs. Globe’s ₹119 crore.
• GMP: NCC’s GMP was ₹20 (15% premium) vs. Globe’s ₹13 (18.3%).
• Listing Performance: NCC listed at a 12% gain, aligning with GMP.
• Financials: NCC’s revenue was ₹15,553 crore (FY23) vs. Globe’s ₹334.81 crore, but Globe’s PAT growth (72% CAGR) outpaces NCC’s 25%.

While NCC’s scale is larger, Globe’s niche focus and order book suggest growth potential, making it appealing for retail investors.

Internal Link:

1. Globe Civil Projects IPO.
2. Follow Fundmetry.com for more financial updates.

Why Invest in the Globe Civil Projects IPO?

Pros

• Strong Order Book: ₹892.95 crore provides revenue visibility.
• Infrastructure Boom: India’s ₹143 lakh crore National Infrastructure Pipeline (2020–2025) supports EPC firms.
• Reasonable Valuation: P/E of 19.83x is lower than peers.
• Diversified Portfolio: Presence in 11 states and multiple sectors reduces risk.

Cons

• GMP Volatility: Wide GMP range (₹7–₹84) signals uncertainty.
• Promoter Risks: Legal issues may dent trust.
• CPWD Reliance: Overdependence on one client is risky.
• Competitive Sector: Price wars could squeeze margins.

FAQ Section

1. What is the Globe Civil Projects IPO GMP, and should I rely on it?

The Globe Civil Projects IPO GMP (Grey Market Premium) is the premium at which unlisted shares trade in the grey market before listing. As of June 23, 2025, the GMP ranges from ₹7 to ₹13, with some reports citing ₹84, suggesting a listing price of ₹78–₹84 (10–18.31% gain). However, GMP is not a reliable indicator as it’s unofficial and volatile. For instance, on June 17, 2025, GMP was ₹0, but it rose to ₹12 by June 20. Investors should focus on fundamentals like the company’s ₹892.95 crore order book, 72% PAT CAGR (FY22–FY24), and risks like CPWD dependence (29.77% of FY24 revenue). Consult a financial advisor before deciding.

2. Is the Globe Civil Projects IPO price band of ₹67–₹71 fair?

The price band of ₹67–₹71 values the Globe Civil Projects IPO at a P/E of 19.83x (FY24 EPS ₹3.58) and 17.88x (projected FY25). Compared to peers like Larsen & Toubro (P/E 30x) and NCC Ltd. (25x), it’s reasonably priced. The company’s revenue grew from ₹235.17 crore (FY23) to ₹334.81 crore (FY24), and PAT surged from ₹4.85 crore to ₹15.38 crore. Its ₹892.95 crore order book (August 2024) supports growth, but risks include a 1.4x debt-to-equity ratio and a civil suit against promoters for a ₹91 lakh loan default. Analysts call it “fully priced” but suitable for long-term investors.

3. How can I apply for the Globe Civil Projects IPO as a retail investor?

To apply for the Globe Civil Projects IPO, retail investors need a minimum of 211 shares (₹14,981 at ₹71). Use platforms like Zerodha, Upstox, or net banking (ASBA). For Zerodha: log in to Console, go to “Portfolio” > “IPOs,” select the IPO, enter UPI ID, quantity, and price (₹71 cutoff), then approve the UPI mandate. The IPO opened on June 24, 2025, and closed on June 26. Allotment is on June 27, with listing on July 1. You can apply for up to 13 lots (2,743 shares, ₹194,753). Check allotment status on KFin Technologies’ portal.

4. What are the risks of investing in the Globe Civil Projects IPO?

Investing in the Globe Civil Projects IPO carries risks. The company derives 29.77% (FY24) to 57.48% (FY23) of revenue from CPWD projects, and a slowdown could impact growth. Its debt-to-equity ratio is 1.4x (December 2024), higher than peers. Promoters Ved and Vipul Khurana face a civil suit for a ₹91 lakh loan default, potentially affecting trust. The EPC sector is competitive, with players like L&T and NCC posing margin pressure. Delays or cancellations of top projects (89.54% of FY24 revenue) could hurt cash flows. Despite a strong ₹892.95 crore order book, investors should assess these risks.

5. What is the expected listing gain for the Globe Civil Projects IPO?

The Globe Civil Projects IPO’s expected listing gain is 10–18.31%, based on a GMP of ₹7–₹13 (some report ₹84) as of June 23, 2025. This suggests a listing price of ₹78–₹84 against the ₹71 upper price band. For a retail lot of 211 shares, a ₹13 GMP could yield a ₹2,743 gain. However, GMP is speculative and fluctuated from ₹0 (June 17) to ₹12 (June 20). The company’s fundamentals, like ₹334.81 crore FY24 revenue and ₹892.95 crore order book, support moderate gains, but risks like CPWD reliance and promoter litigation may cap upside.

Conclusion: Should You Subscribe to the Globe Civil Projects IPO?

The Globe Civil Projects IPO offers a chance to invest in a growing EPC player with a ₹892.95 crore order book and a diversified portfolio across 11 states. Its price band of ₹67–₹71 is reasonably valued, and the GMP of ₹7–₹13 (up to ₹84) hints at listing gains of 10–18.31%. However, risks like CPWD dependence, promoter litigation, and a competitive sector warrant caution. Long-term investors may find value, but short-term players should monitor GMP trends.

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