Goel Construction Company Share Price: Strong Listing on BSE SME Platform

Market Performance

It was a promising start for Goel Construction Company share price in the stock market today. On September 9, the stock made its debut on the BSE SME platform at ₹302.50 per share, marking a 15% premium over the IPO price of ₹263.

The listing premium, though positive, came in slightly lower than what the grey market was hinting at. Prior to listing, Goel’s shares were trading at a 19% grey market premium (GMP), valued at around ₹313 per share.

Main News

The IPO, sized at ₹100 crore, caught the attention of investors with its robust subscription numbers. Between September 2 and September 4, the issue was subscribed a staggering 115.77 times, reflecting the strong demand in the SME segment.

The IPO was structured in two parts:

• Fresh issue of shares: ₹81 crore
• Offer-for-sale (OFS): ₹19 crore, led by the Goel family (promoters)

This successful debut highlights investor confidence, even though the listing gain was marginally below the market buzz.

Company Details

Goel Construction Company, headquartered in Jaipur, has built a solid track record in India’s infrastructure sector.

• Projects completed (last 4 years): 19 projects worth ₹1,135 crore
• Ongoing projects (as of June 2025): 14 projects spread across 8 states
• Current order book: ₹596.6 crore

The company intends to utilize IPO proceeds strategically:

• ₹41.7 crore for purchasing additional equipment and fleet
• ₹23.05 crore for repayment of equipment-related loans (from total borrowings of ₹27.14 crore)
• Balance for general corporate purposes

This allocation underlines the company’s focus on strengthening operational capacity and reducing debt.

Financial Performance

Goel Construction Company’s financials have shown consistent growth.

• Revenue (FY25): ₹590 crore, up 52.8% from ₹386 crore in FY24
• Net Profit (FY25): ₹38.3 crore, up 69.2% from ₹22.6 crore in FY24

Such performance gives the company a stable foundation as it scales up operations post-listing.

Summary

The debut of Goel Construction Company share price at a 15% premium reflects both investor trust and strong fundamentals. Despite the slight mismatch with grey market expectations, the overwhelming IPO subscription, strong project pipeline, and healthy financial growth make this listing one of the noteworthy events in the stock market today.

The company now stands well-placed to expand its footprint across India, backed by a growing order book and improved financial leverage.