Shares of Goel Construction Company made a strong debut on the BSE SME platform, trading at Rs 317.60, a premium of 20.76% compared with the IPO issue price of Rs 263. The stock was listed at Rs 302.50, marking a 15.02% premium over the initial public offer (IPO) price and is currently frozen at its upper 5% circuit limit over the listing price.
During the session, the counter hit a high of Rs 317.60 and a low of Rs 302.05, with about 15.70 lakh shares changing hands.
The IPO, which opened for bidding on 2 September 2025 and closed on 4 September 2025, was oversubscribed 115.77 times. The issue comprised a fresh issue of 30,84,400 shares and an offer for sale (OFS) of 7,23,600 shares, reducing promoter shareholding to 69.63% post-IPO from 95.99% pre-IPO.
Ahead of the IPO, the company raised Rs 27.39 crore from anchor investors on 1 September 2025, allotting 10.62 lakh shares at Rs 263 each to nine anchor investors.
The company plans to utilize the net proceeds to acquire additional equipment and fleets, repay or prepay certain borrowings, and for general corporate purposes.
Goel Construction Company is engaged in constructing cement, power, and dairy plants, among other industrial projects. As of 30 June 2025, the company had 1,191 permanent employees and 14 ongoing projects across eight states, with an order book of Rs 596.60 crore.
For the financial year ended 31 March 2025, the company recorded revenue from operations of Rs 589.98 crore and a net profit of Rs 38.32 crore.
The strong debut underscores robust investor confidence in Goel Construction’s business fundamentals and growth outlook.
