The mainboard IPO calendar stays busy this week, and Globe Civil Projects is set to wrap up its Rs 119 crore offer today, June 26. Let’s take a look at the GMP, subscription status and other key details of the issue.
Globe Civil Projects IPO: Subscription status
On the final day of its binding, the issue was subscribed 25.97 times. The non-institutional investors (NIIs) led the charge, subscribing their portion 47.88 times. Retail investors followed closely, bidding 26.25 times the shares reserved for them. Qualified institutional buyers (QIBs) came in at 9.03 times so far.
Globe Civil Projects IPO: Grey market buzz
The IPO’s momentum is also visible in the grey market. The shares of Globe Civil Projects are currently commanding a premium of Rs 17 per share, indicating a potential listing price of Rs 88, which is 24% above the issue’s upper price band of Rs 71.
It is also important to note that grey market premiums (GMPs) are unofficial and tend to fluctuate based on sentiment.
Globe Civil Projects IPO: Details and pricing
The IPO consists entirely of a fresh issue of 1.68 crore equity shares. There is no offer for sale (OFS) component in this issue.
The price band of the issue is set between the range of Rs 67 to Rs71 per share, and the lot size is 211 shares. This translates to a minimum investment of Rs 14,981 for retail investors at the upper end.
Globe Civil Projects IPO: Dates to track
As the subscription window closes today, the basis of allotment is likely to be finalised by Friday, June 27, with shares expected to be credited to demat accounts by Monday, June 30. The listing on BSE and NSE is tentatively set for Tuesday, July 1.
Globe Civil Projects IPO: Lead manager and registrar
MEFCOM Capital Markets is the sole book-running lead manager (BRLM) for this IPO, while KFin Technologies is managing the registrar responsibilities.