Globe Civil Projects Files Draft Prospectus For IPO

Globe Civil Projects Ltd. on Thursday filed its preliminary papers for its initial public offering with the Securities and Exchange Board of India. The public offer will only include fresh issue of 1.9 crore shares, according to the draft red herring prospectus. The company, however, did not reveal how much it plans to raise through this issue.

Ved Prakash Khurana, Nipun Khurana and Vipul Khurana are the promoters of the Delhi-based company.

MEFCom Capital Markets Ltd. will be the book-running lead manager for the issue and KFin Technologies Ltd. will be the registrar of the issue. The equity shares of the company are proposed to be listed on the BSE and NSE.

The company will use Rs 75 crore for funding working capital and Rs 14.06 crore will be used for purchase of construction equipment or machineries. The remaining amount will be used for general corporate purposes.

Globe Civil Projects is an integrated engineering, procurement and construction company that has projects across 11 states of India. The company is into transport and logistics projects, social and commercial projects and non-infrastructure projects.

The company's revenue from operations from construction project stood at Rs 293.27 crore in financial year 2024 at a CAGR of 7.53%, while its revenue from trading of TMT steel was at Rs 38.89 crore with a CAGR of 10.09%.

As of Oct. 3, the company has completed a total of 37 projects since its inception. It has 12 ongoing projects that include five social and commercial infrastructure projects with three transport and logistics projects, three residential building projects and one office building.

The company in the DRHP also said that it is registered contractor with Central Public Work Department, Government of India and can tender for any work up to Rs 650 crore.