Global Civil Projects Share Price Surges 28% on Market Debut

Market Performance

Shares of Global Civil Projects made a remarkable debut on the Indian stock exchanges on Tuesday, opening at a substantial 28.3% premium over its IPO price.

• BSE Listing Price: ₹91.10
• NSE Listing Price: ₹90
• Issue Price: ₹71

This translates to a gain of 26.76% to 28.3% for investors who were allotted shares during the IPO phase.

Main News

The successful listing of Global Civil Projects has drawn significant attention, particularly due to the overwhelming response during its IPO phase.

• The IPO witnessed an overall subscription of 80.97 times, underscoring strong investor confidence.
• Non-Institutional Investors (NIIs) led the pack, subscribing 143.14 times the amount.
• Qualified Institutional Buyers (QIBs) followed closely, with 82.13 times the number of transactions.
• Retail Investors also showed enthusiasm with a subscription of 53.67 times.
• The company also raised ₹35.70 Crore from anchor investors ahead of the issue.

Company Details

Founded in 2002 and headquartered in New Delhi, Global Civil Projects is a prominent name in the engineering and construction space. The company has a strong foothold in infrastructure development across 11 Indian states.

As of August 2024, it is managing 14 ongoing projects with a robust order book of ₹892.95 Crore. These projects cover various sectors, including:

• Social and commercial infrastructure
• Logistics and transportation
• Residential housing

The company's objective with the IPO proceeds includes:

• Funding working capital requirements
• Purchasing construction machinery
• Supporting general corporate needs

Financial Performance

Net Profits

• FY25 (First 9 months): ₹18 Crore
• FY24 (Full Year): ₹15.38 Crore

The above figures reflect consistent growth in the company's profitability.

Summary

The Global Civil Projects' share price debut has made a strong statement in the market, reflecting the company's strong fundamentals and execution capabilities. The overwhelming number of IPO subscriptions and a robust project pipeline highlight investor confidence in the firm's future trajectory.

Despite broader market volatility, Global Civil Projects' listing has demonstrated resilience, marking a solid start to its journey as a publicly traded entity.