Globe Civil Projects Files IPO Papers With Sebi

Globe Civil Projects, an integrated engineering, procurement and construction (EPC) company, filed preliminary papers with the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO).

The company plans to raise funds entirely through fresh issue of 1.9 crore equity shares with no offer-for- sale (OFS) component. 
 

The firm intends to utilise Rs 75 crore out of the net proceeds for funding working capital requirements, Rs 14.06 crore as capital expenditure towards purchase of equipment or machineries and the remainder amount will be used for general corporate purposes.

Promoters hold an aggregate of 88.14 per cent shareholding in the company, while 11.86 per cent is held by public shareholders including Chanakya Opportunity Fund I.
 

Globe Civil Projects has undertaken projects in 11 states of India. The company is into the execution and construction of infrastructure projects comprising transport and logistics projects, social and commercial projects and non-infrastructure projects comprising commercial offices and housing. 

Apart from Infra and non-infra projects, the company provides a wide range of services, including mechanical, electrical, and plumbing, architectural and structural work, HVAC, and fire alarm systems.

The company’s strategy focuses on securing government infrastructure projects, expanding its geographical footprint, enhancing pre-qualification and bidding capacities, and timely delivery and execution.
 

The company has completed 37 projects in the last two decades. It has twelve ongoing projects that include five social and commercial infrastructure projects, three transport and logistics projects, three residential building projects and one office building project. Its order book was Rs 892.95 crore as of 31 August 2024.

The construction sector is one of the major segments that drives the economy. Growth in the number of construction projects creates and strengthens the demand for a myriad range of products as well as services like EPC.

Globe Civil Projects is a registered class-1 super contractor with Central Public Work Department, Government of India and can tender for projects up to Rs 650 crore.

Mefcom Capital Markets, led by Sameer Purohit, is the merchant banker for the Globe Civil Projects IPO.