Goel Construction Shares Surge 20% on Strong BSE SME Debut
Goel Construction made a strong debut on the BSE SME platform, with shares opening at Rs 302.50, a 15% premium to the IPO price of Rs 263.00. The stock reached Rs 317.60 in early trading, marking a 20% gain from the IPO price. The company's Rs 100.15 crore IPO was well-received, with Qualified Institutional Buyers subscribing 124.20 times, Non-Institutional Investors 224.80 times, and Retail Investors 88.61 times. Goel Construction, founded in 1997, specializes in industrial and infrastructure projects with 14 ongoing projects across eight states and an order book value of Rs 596.60 crore. The company reported strong financial growth with revenue of Rs 594.30 crore (53% growth) and profit of Rs 38.30 crore (69% growth).
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Goel Construction made a robust debut on the BSE SME platform, with its shares soaring up to 20% above the initial public offering (IPO) price in early trading. The strong listing reflects the high investor interest in the company's recent IPO.
Impressive Listing Day Performance
- Listing Price: Rs 302.50 (15% premium to IPO price)
- IPO Price: Rs 263.00
- Early Trading High: Rs 317.60 (20% above IPO price)
The shares opened at Rs 302.50, marking a 15% premium to the issue price of Rs 263.00. The stock continued its upward trajectory, reaching Rs 317.60 in early trading, representing a total gain of 20% from the IPO price.
IPO Details and Investor Response
Goel Construction's Rs 100.15 crore IPO garnered significant attention from various investor categories:
| Investor Category | Subscription Rate |
|---|---|
| Qualified Institutional Buyers | 124.20 times |
| Non-Institutional Investors | 224.80 times |
| Retail Investors | 88.61 times |
The IPO comprised a fresh issue worth Rs 81.12 crore and an offer for sale of Rs 19.03 crore.
Company Overview
Founded in 1997, Goel Construction specializes in industrial and infrastructure projects. Key highlights include:
- 14 ongoing projects across eight states
- Order book value: Rs 596.60 crore
Financial Performance
The company has demonstrated strong financial growth:
| Metric | Value | Growth |
|---|---|---|
| Revenue | Rs 594.30 crore | 53% |
| Profit | Rs 38.30 crore | 69% |
The impressive financial performance, coupled with a robust order book, likely contributed to the strong investor interest in the IPO and the subsequent positive market debut.
Market Expectations
The listing price aligned closely with grey market expectations, which had anticipated a debut around Rs 313.00. The actual listing and early trading performance have exceeded these projections, indicating strong market confidence in Goel Construction's prospects.
The successful listing of Goel Construction on the BSE SME platform highlights the growing investor interest in small and medium enterprises with strong growth potential in the infrastructure and construction sectors.
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