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Goel Construction IPO is a book build issue of ₹100.15 crores. The issue is a combination of fresh issue of 0.31 crore shares aggregating to ₹81.12 crores and offer for sale of 0.07 crore shares aggregating to ₹19.03 crores.
Goel Construction IPO bidding started from Sep 2, 2025 and ended on Sep 4, 2025. The allotment for Goel Construction IPO was finalized on Sep 8, 2025. The shares got listed on BSE SME on Sep 9, 2025.
Goel Construction IPO price band is set at ₹263.00 per share . The lot size for an application is 400. The minimum amount of investment required by an individual investor (retail) is ₹2,10,400.00 (800 shares) (based on upper price). The minimum lot size investment for HNI is 3 lots (1,200 shares), amounting to ₹3,15,600.
The issue includes a reservation of up to 73,600 shares for employees offered at a discount of ₹10.00 to the issue price.
Srujan Alpha Capital Advisors LLP is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The market maker of the company areChoice Equity Broking Pvt.Ltd., Rikhav Securities Ltd..
Refer to Goel Construction IPO RHP for detailed Information.
| IPO Date | September 2, 2025 to September 4, 2025 |
| Listing Date | September 9, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹250 to ₹263 per share |
| Issue Price Final | ₹263 per share |
| Lot Size | 400 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 38,08,000 shares (aggregating up to ₹100.15 Cr) |
| Reserved for Market Maker | 1,90,400 shares Choice Equity Broking Pvt.Ltd. (aggregating up to ₹5.01 Cr) Rikhav Securities Ltd. |
| Fresh Issue (Ex Market Maker) | 28,94,000 shares (aggregating up to ₹76.11 Cr) |
| Offer for Sale | 7,23,600 shares of ₹10 (aggregating up to ₹19.03 Cr) |
| Net Offered to Public | 36,17,600 shares (aggregating up to ₹95.14 Cr) |
| Employee Discount | ₹10.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,13,65,200 shares |
| Share Holding Post Issue | 1,44,49,600 shares |
Goel Construction IPO offers total 38,08,000 shares. Out of which 17,70,400 (46.49%) allocated to QIB, 7,08,400 (18.60%) allocated to QIB (Ex- Anchor), 5,32,800 (13.99%) allocated to NII, 12,40,800 (32.58%) allocated to RII and 10,62,000 (27.89%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,90,400 (5.00%) |
| QIB Shares Offered | 17,70,400 (46.49%) |
| − Anchor Investor Shares Offered | 10,62,000 (27.89%) |
| − QIB (Ex. Anchor) Shares Offered | 7,08,400 (18.60%) |
| NII (HNI) Shares Offered | 5,32,800 (13.99%) |
| − bNII > ₹10L | 3,55,200 (9.33%) |
| − sNII < ₹10L | 1,77,600 (4.66%) |
| Retail Shares Offered | 12,40,800 (32.58%) |
| Employee Shares Offered | 73,600 (1.93%) |
| Total Shares Offered | 38,08,000 (100.00%) |
| Application Category | Bidding Limits |
|---|---|
| Only Individual investor (retail) | 2 lots |
| Only sNII | 3 lots - 9 lots |
| Only bNII | 10 lots and above |
| Only employee | 2 lots - 4 lots |
| Employee + RII/NII |
|
* Bidding at cut-off price is not allowed for any category
Goel Construction IPO raises ₹27.93 crore from anchor investors. Goel Construction IPO Anchor bid date is September 1, 2025. Goel Construction IPO Anchor Investors list
| Bid Date | September 1, 2025 |
| Shares Offered | 10,62,000 |
| Anchor Portion Size (In Cr.) | 27.93 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 4, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 3, 2025 |
Goel Construction IPO opens on September 2, 2025, and closes on September 4, 2025.
| IPO Open Date | Tue, Sep 2, 2025 |
| IPO Close Date | Thu, Sep 4, 2025 |
| Tentative Allotment | Mon, Sep 8, 2025 |
| Initiation of Refunds | Tue, Sep 9, 2025 |
| Credit of Shares to Demat | Tue, Sep 9, 2025 |
| Tentative Listing Date | Wed, Sep 10, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Sep 4, 2025 |
Investors can bid for a minimum of 800 shares and in multiples of 400 shares thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 800 | ₹2,10,400 |
| Individual investors (Retail) (Min) | 2 | 800 | ₹2,10,400 |
| S-HNI (Min) | 3 | 1,200 | ₹3,15,600 |
| S-HNI (Max) | 9 | 3,600 | ₹9,46,800 |
| B-HNI (Min) | 10 | 4,000 | ₹10,52,000 |
| Employee (Min) | 2 | 800 | ₹2,10,400 |
| Employee (Max) | 4 | 1,600 | ₹4,20,800 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Goel Construction Company Limited (GCCL), incorporated in 1997, is a construction and infrastructure company with a strong presence across multiple sectors. The company is engaged in civil and structural works, with expertise spanning cement plants, dairies, hospitals, steel, power plants, pharmaceuticals, and institutional projects.
GCCL’s primary focus and core strength lie in the construction of cement plants, power plants, dairy plants, and other industrial facilities, where it has established a reputation for reliability and timely delivery.
Since inception, the company has executed and delivered 19 projects with an aggregate contract value of ₹1,13,499.37 lakhs across several states in India. As of June 30, 2025, GCCL is executing 14 ongoing projects across eight states, supported by an order book of ₹59,660.28 lakhs, which provides strong revenue visibility.
The company has successfully expanded its geographical footprint to cover Rajasthan, Andhra Pradesh, Haryana, Gujarat, Chhattisgarh, Jharkhand, Madhya Pradesh, Odisha, Punjab, Maharashtra, Karnataka, and Uttar Pradesh, reflecting its capability to undertake projects pan-India.
To ensure efficient project execution, GCCL maintains a fleet of 202 equipment and machinery, including boom placers, transit millers, excavators, tipper trucks, compactors, rollers, tower cranes, backhoe loaders, batching plants, hydra cranes, and more. The company’s asset base enables it to deliver projects within strict timelines while optimizing costs.
As of June 30, 2025, GCCL employed 1,191 permanent staff members, including engineers, technical professionals, and project management specialists, strengthening its execution capabilities.
Strong project management and execution capabilities.
Long-standing customer relationships across multiple sectors.
Robust order book providing clear revenue visibility.
Consistent track record of financial performance.
Efficient management of a large fleet of equipment and machinery.
Goel Construction Co.Ltd.'s revenue increased by 53% and profit after tax (PAT) rose by 69% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 265.09 | 219.51 | 205.04 |
| Total Income | 594.34 | 388.79 | 272.94 |
| Profit After Tax | 38.32 | 22.64 | 14.30 |
| EBITDA | 57.91 | 36.29 | 23.41 |
| Net Worth | 131.59 | 93.27 | 70.62 |
| Reserves and Surplus | 120.22 | 92.23 | 69.59 |
| Total Borrowing | 28.71 | 30.51 | 28.51 |
| Amount in ₹ Crore | |||
The market capitalization of Goel Construction IPO is ₹380.02 Cr.
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| ROCE | 33.69% |
| Debt/Equity | 0.22 |
| RoNW | 34.09% |
| PAT Margin | 6.50% |
| EBITDA Margin | 9.81% |
| Price to Book Value | 2.27 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 33.72 | 26.52 |
| P/E (x) | 7.8 | 9.92 |
The Company Goel Construction IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Capital expenditure towards purchase of additional equipments and fleets | 41.74 |
| 2 | Repayment / prepayment of certain outstanding borrowings availed by the company | 23.05 |
| 3 | General corporate purposes |
[Dilip Davda] GCCL is engaged in construction of industrial plants with major focus on Cement plants, Power plants and Dairy plants. The company posted growth in its top and bottom lines. As of March 31, 2025, it had an order book worth Rs. 438+ cr. Based on its recent financial data; the issue is reasonably priced. Investors may grab it for medium to long term. Read detail review...
| Listing Date | September 9, 2025 |
| BSE Script Code | 544504 |
| NSE Symbol | |
| ISIN | INE0ZOM01013 |
| Final Issue Price | ₹263 per share |
| BSE Listing Group | MT |
Goel Construction Co.Ltd.
8, Vashisth Marg,
Gom Defence
Vaishali Nagar
Jaipur, Rajasthan, 302001
Phone: 0141-2365121
Email: info@goelconstruction.co.in
Website: https://www.goelconstruction.co.in/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: goelconstruction.smeipo@in.mpms.mufg.com
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Goel Construction IPO is a SME IPO of 38,08,000 equity shares of the face value of ₹10 aggregating up to ₹100.15 Crores. The issue is priced at ₹263 per share. The minimum order quantity is 400.
The IPO opens on September 2, 2025, and closes on September 4, 2025.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Goel Construction IPO using UPI as a payment gateway. Zerodha customers can apply in Goel Construction IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Goel Construction IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Goel Construction IPO opens on September 2, 2025 and closes on September 4, 2025.
Goel Construction IPO lot size is 400, and the minimum amount required for application is ₹2,10,400, with 2 lots being the minimum application size.
You can apply in Goel Construction IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Goel Construction IPO will be done on Monday, September 8, 2025, and the allotted shares will be credited to your demat account by Tuesday, September 9, 2025. Check the Goel Construction IPO allotment status.
The Goel Construction IPO listing date is on Wednesday, September 10, 2025.
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