rewrite this title and make it good for SEOGlobe Civil Projects IPO subscribed 86 times as investors await allotment next week

IPO news: The initial public offering (IPO) of infrastructure firm Globe Civil Projects received an overwhelming response from investors, garnering bids for over 100.94 crore shares against 1.17 crore shares on offer, translating to a robust subscription of 86.04 times.

The IPO, which was open for subscription from June 24 to June 26, 2025, was priced in a band of Rs 67–71 per share. The offer comprised a fresh issue of up to 1.67 crore equity shares, with no offer-for-sale component.

Proceeds from the issue will be used to fund the company’s working capital needs (Rs 75 crore), capital expenditure on construction machinery (Rs 14.26 crore), and general corporate purposes.

Ahead of the public issue, Globe Civil Projects raised Rs 35.69 crore from six anchor investors on June 23 by allotting 50.28 lakh shares at the upper price band of Rs 71 per share.

Promoted by Ved Prakash Khurana, Nipun Khurana, and Vipul Khurana, Globe Civil Projects is a New Delhi-based integrated EPC (Engineering, Procurement, and Construction) firm. The company focuses on transport, social, and commercial infrastructure projects and has delivered 37 projects across 11 Indian states. It currently has 13 ongoing projects, with an order book of Rs 669.10 crore as of March 31, 2025.

A significant portion of its revenue comes from government agencies, particularly the Central Public Works Department (CPWD). The company also engages in joint ventures to expand its project footprint.

For the nine-month period ended December 31, 2024, Globe Civil Projects reported a net profit of Rs 17.79 crore and total income of Rs 254.66 crore on a consolidated basis.

The IPO allotment is expected to be finalised shortly, following which shares will be credited to successful bidders’ demat accounts. Refunds to unsuccessful applicants will also be initiated thereafter.