Goel Construction IPO Allotment Set for Monday After Massive 124x Oversubscription
Goel Construction's Rs 100 crore IPO has been oversubscribed 124.34 times. QIBs oversubscribed 124.20 times, Non-Institutional Investors 224.80 times, and Retail Investors 88.61 times. The grey market premium is Rs 48 per share. Shares will be listed on BSE SME platform on September 10. The company specializes in industrial and infrastructure construction, with 14 ongoing projects across 8 states. Goel Construction's order book stands at 596.60, with revenue of 594.30 (53% growth) and profit after tax of 38.30 (69% growth).
*this image is generated using AI for illustrative purposes only.
Goel Construction's initial public offering (IPO) has garnered overwhelming investor interest, with the Rs 100 crore issue being oversubscribed by a staggering 124.34 times. The company is now set to finalize the share allotment on Monday, following the strong response from various investor categories.
Subscription Details
The IPO, which was open for subscription from September 2 to September 4, saw robust demand across all investor segments:
- Qualified Institutional Buyers (QIBs): 124.20 times oversubscribed
- Non-Institutional Investors: 224.80 times oversubscribed
- Retail Investors: 88.61 times oversubscribed
Grey Market Premium and Listing
The strong investor appetite is reflected in the grey market, where Goel Construction shares are commanding a premium of Rs 48 per share. The company's shares are scheduled to make their market debut on the BSE SME platform on September 10.
Allotment Process
MUFG Intime India has been appointed as the registrar for the IPO. Investors who have been allotted shares can expect them to be credited to their demat accounts by September 9.
Company Overview
Goel Construction, incorporated in 1997, specializes in industrial and infrastructure construction. The company's expertise includes:
- Cement plants
- Power plants
- Dairy units
Current Projects and Financial Performance
The company's strong market position is evident from its robust order book and financial performance:
| Metric | Value |
|---|---|
| Ongoing Projects | 14 |
| States Covered | 8 |
| Order Book Value | 596.60 |
| Revenue | 594.30 |
| Revenue Growth | 53.00% |
| Profit After Tax | 38.30 |
| Profit Growth | 69.00% |
Goel Construction's impressive financial results show significant growth, with revenue increasing by 53.00% and profit after tax surging by 69.00%.
The strong oversubscription of Goel Construction's IPO, coupled with its robust financial performance and substantial order book, indicates high investor confidence in the company's growth prospects. As the construction sector continues to play a crucial role in India's infrastructure development, companies like Goel Construction are well-positioned to capitalize on the growing opportunities in the market.
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