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Globe Civil Projects IPO
Globe Civil Projects Ltd
₹14,137 /211 sharesMinimum Investment
Globe Civil Projects IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| BSE | ₹71.00 | ₹90.00 | ₹19.00 (26.76%) |
Globe Civil Projects IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 24 Jun ‘25 - 26 Jun ‘25 | ₹14,137 | 211 | ₹67 - ₹71 |
| Issue Size | IPO Doc |
|---|---|
| 119.00Cr | RHP PDF |
Subscription rate
As of 26 Jun'25, 05:00 PM
| Qualified Institutional Buyers | 99.76x |
| Non-Institutional Investor | 142.70x |
| Retail Individual Investor | 51.29x |
| Total | 84.73x |
About Globe Civil Projects
Founded in
2002
Managing director
Mr Vipul Khurana and Mr Nipun Khurana
Parent organisation
Globe Civil Projects Ltd
Globe Civil Projects Ltd IPO
https://www.youtube.com/watch?v=YcjneMnHb8Q
Strengths & Financials of Globe Civil Projects
Strengths
Risks
Globe Civil Projects claims to have completed 37 projects over the past two decades and is currently executing 13 projects. It further claims to have experience in handling diverse infrastructure and non-infrastructure segments, including hospitals, educational institutions, railway terminals, and office buildings.
The company claims to be currently executing its largest ongoing project, the NIT Narela Campus, spread across 688,908.57 square feet with an estimated cost of Rs 327 crore.
The company claims to have an internal engineering and design team with expertise in civil, electrical, and mechanical works. It also claims to deploy designated quality system managers to conduct regular inspections and ensure compliance at project sites.
The company claims that its order book has shown sustained growth, increasing from Rs 309.05 crore in FY22 to Rs 669.10 crore in FY25.
The company has received credit ratings of IVE BBB/Stable for its long-term bank facilities and IVR A3+ for its short-term bank facilities from Infomerics Valuation and Rating Private Limited.
A significant portion of Globe Civil Projects’ order book is dependent on CPWD projects. They accounted for Rs 24.92 crore (10.10 percent) of the company’s revenue from construction project receipts in the nine months ended December 31, 2024, Rs 87.31 crore (29.77 percent) in FY24, Rs 114.11 crore (57.48 percent) in FY23, and Rs 138.52 crore (54.62 percent) in FY22. Any adverse change in the project pipeline from CPWD, inability to win bids, or changes in pre-qualification norms could hit the company’s future growth and revenue visibility.
A significant portion of the company’s revenue is derived from the social and commercial infrastructure segment, especially educational institutions. They accounted for Rs 157.76 crore (61.95 percent) of the company’s revenue in the nine months ended December 31, 2024, Rs 156.42 crore (47.09 percent) in FY24, Rs 92.75 crore (39.75 percent) in FY23, and Rs 139.72 crore (48.90 percent) in FY22. Any slowdown in budgetary allocation or infrastructure activity in this segment could impact the company’s business prospects and restrict growth opportunities.
A significant portion of Globe Civil Projects’ revenue is derived from projects executed through joint ventures (JVs). They accounted for Rs 89.79 crore (36.40 percent) of the company’s revenue in the nine months ended December 31, 2024, Rs 97.84 crore (33.36 percent) in FY24, Rs 57.54 crore (28.98 percent) in FY23, and Rs 89.15 crore (35.15 percent) in FY22. Any failure by a JV or consortium partner to perform contractual obligations could impose additional responsibilities and risks on the company, which may reduce profitability or push it into losses.
The top five projects accounted for Rs 182.57 crore (74.01 percent) of the company’s revenue from construction project receipts in the nine months ended December 31, 2024, Rs 185.81 crore (63.36 percent) in FY24, Rs 151.71 crore (76.42 percent) in FY23, and Rs 224.68 crore (88.59 percent) in FY22. Any delay or loss of any of these projects could adversely affect the company’s business and financial condition.
The cost of raw materials accounted for Rs 55.23 crore (21.69 percent) of the company’s revenue in the nine months ended December 31, 2024, Rs 94.17 crore (28.35 percent) in FY24, Rs 81.85 crore (35.08 percent) in FY23, and Rs 77.54 crore (27.14 percent) in FY22. Any sharp rise in the prices of these raw materials could hit the company’s business and financial condition.
The top 10 suppliers accounted for Rs 32.30 crore (45.64 percent) of the company’s total cost of materials purchased in the nine months ended December 31, 2024, Rs 34.72 crore (36.48 percent) in FY24, Rs 27.45 crore (33.43 percent) in FY23, and Rs 33.60 crore (40.79 percent) in FY22. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and finances.
The company relies heavily on subcontractors for labour, materials, and specialised work. They accounted for Rs 127.61 crore (54.65 percent) of the company’s total expenses in the nine months ended December 31, 2024, Rs 139.88 crore (44.57 percent) in FY24, Rs 80.28 crore (35.14 percent) in FY23, and Rs 134.93 crore (48.23 percent) in FY22. Any shortage of contract labour or default by subcontractors in executing specialised tasks could adversely impact the company’s project timelines, cash flows, and overall operations.
A significant portion of the company’s revenue is derived from Delhi. It accounted for Rs 168.25 crore (66.07 percent) of the company’s revenue from construction project receipts in the nine months ended December 31, 2024, Rs 138.39 crore (47.19 percent) in FY24, Rs 43.68 crore (22.00 percent) in FY23, and Rs 40.06 crore (15.80 percent) in FY22. Any disruption in this region could negatively impact the company’s revenue, profitability, and financial condition.
As of December 31, 2024, the company had trade receivables amounting to Rs 48.87 crore, up from Rs 46.52 crore in FY24, Rs 33.30 crore in FY23, and Rs 19.03 crore in FY22. For the nine months ending December 2024, the trade receivables amounted to Rs 47.54 crore. Any failure to collect these receivables on time or at all could negatively impact its business and financial condition.
The company reported negative cash flow from operating activities amounting to Rs 3.30 crore in the nine months ended December 31, 2024, and Rs 11.22 crore in FY23. Additionally, negative cash flow from investing activities amounted to Rs 0.38 crore in the nine months ended December 31, 2024, Rs 11.31 crore in FY24, and Rs 3.45 crore in FY23. Furthermore, the company reported negative cash flow from financing activities amounting to Rs 9.55 crore in FY22. If cash outflows continue to exceed inflows in the future, the company may face liquidity challenges.
As of December 31, 2024, the company has contingent liabilities amounting to Rs 23.05 crore. If any of these contingent liabilities materialise, it could adversely affect the company’s business, results of operations, and financial condition.
A significant portion of the company’s business is dependent on government and public sector contracts. They accounted for Rs 226.07 crore (91.65 percent) of the company’s revenue from construction project receipts in the nine months ended December 31, 2024, Rs 263.16 crore (89.73 percent) in FY24, Rs 181.44 crore (91.40 percent) in FY23, and Rs 241.94 crore (95.40 percent) in FY22. Any change in government policies, delays in project approvals or payments, or contract terminations by government authorities could adversely impact the company’s revenues, cash flows, and overall financial condition.
The company, its promoters, and some directors are involved in certain legal proceedings. Any adverse judgments in any of these cases could hurt the company’s business prospects.
As of FY25, the company had outstanding financial indebtedness of Rs 262.73 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Globe Civil Projects Financials
*All values are in Rs. Cr
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Application Details of Globe Civil Projects IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹67 - 71 | ₹2 Lakh |
| High Networth Individual | ₹67 - 71 | ₹2 - 5 Lakh |
For Globe Civil Projects IPO, eligible investors can apply as Regular.