Globe Civil Projects IPO: Filed DRHP to SEBI

Globe Civil Projects Private Limited filed DRHP (Draft Red Herring Prospectus) with SEBI to prepare for its upcoming public issue. This upcoming IPO is offering a fresh issue of 1.90 crore of equity shares and there will be no offer for sale offering by the promoters.

The total aggregate size of a public issue in rupees and the total no. of equity shares that will be issued by the company has not yet been disclosed.

This IPO will follow the book-building process, with not more than 50% of the offer reserved for Qualified Institutional Buyers (QIBs), not less than 15% for Non-Institutional Investors (NIIs), and not less than 35% for retail investors.

Globe Civil Projects IPO's open date and close date have not yet declared. The price band & lot size will be revealed soon by the company. Shares to be offered through the Red Herring Prospectus are proposed by the company to be listed on the BSE and NSE.

Also Read | Indogulf Cropsciences IPO: Filed DRHP to SEBI

About Globe Civil Projects Limited

Globe Civil Projects Limited, established on May 22, 2002, is a private unlisted company based in New Delhi, India. It specializes in civil construction and infrastructure development, focusing on engineering, procurement, and construction (EPC) services. The company is registered as a Class-I contractor with the Central Public Works Department (CPWD) and has undertaken projects across multiple states in India. For the financial year ending March 31, 2023, Globe Civil Projects reported operating revenues between INR 100 crore and 500 crores. The company is committed to safety and quality, emphasizing a corporate culture that prioritizes workforce safety at construction sites. Its authorized capital stands at INR 65 crore, with a paid-up capital of approximately INR 42.96 crore.

Globe Civil Projects IPO Objectives

The company plans to utilize the net proceeds by allocating Rs 75 crores for funding its working capital requirements. Rs 14.06 crores will be used for capital expenditure towards the purchase of construction equipment and machinery, with the remaining proceeds directed towards general corporate purposes.

Financials of Globe Civil Projects Limited

The financials for the company during the period ended 31 March 2024, compared to 31 March 2023:

1. Assets increased from Rs 275.04 crores in March 2023 to Rs 317.83 crores in March 2024, a 15.56% increase.
2. Revenue increased from Rs 233.35 crores to Rs 332.16 crores, a 42.35% increase.
3. Profit After Tax (PAT) increased from Rs 4.85 crores in March 2023 to Rs 15.38 crores in March 2024, a 217.01% increase.
4. Total Borrowing increased from Rs 124.48 crores to Rs 97 crores, a 28.33% increase.

Lead managers and Registrar of Globe Civil Projects IPO

The IPO is managed by Mefcom Capital Markets Limited, which is the book-running lead manager of this public issue. The company has appointed KFin Technologies Limited as the registrar for this public issue.

Promoters of Globe Civil Projects

Ved Prakash Khurana, Nipun Khurana and Vipul Khurana are the identifiable promoters (s) of the company. They collectively held 88.14% of the company's shares. However, post-IPO changes in their shareholding have not yet been disclosed in the Prospectus filed by the company with SEBI. To read full DRHP click here.

Also Read | Aditya Infotech IPO: Filed DRHP to SEBI