Globe Civil Projects Limited (the “Company”), an integrated engineering, procurement and construction (EPC) company, has 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 via fresh issue of 1.9 crore equity shares with no offer-for-sale component. It plans to utilise Rs. 75 crores 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% shareholding in the Company, while 11.86% is held by public shareholders including Chanakya Opportunity Fund I.
Globe Civil Projects Limited has undertaken projects in 11 states of India. The Company is into the execution and construction of infrastructure projects comprising of Transport and Logistics projects, Social and Commercial projects and non-infrastructure projects comprising of commercial offices and housing. Apart from Infra and non-infra projects, the Company provides a wide range of services, including mechanical, electrical, and plumbing (“MEP”), architectural and structural work, HVAC, and fire alarm systems.
The Company has completed 37 projects in the last two decades. It has 12 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 August 31, 2024.
