Bookbuilding IPO | ₹100 Cr | Listed at BSE SME | Tue, Sep 2, 2025 - Thu, Sep 4, 2025
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 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 (800 shares) (based on upper price). The minimum lot size for investment in 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 Open
Tue, Sep 2, 2025
IPO Close
Thu, Sep 4, 2025
Issue Price
₹263 per share
Market Cap (Pre-IPO)
₹380.02 Cr
| IPO Date | 2 to 4 Sep, 2025 |
| Listed on | Tue, Sep 9, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹250 to ₹263 |
| Issue Price | ₹263 per share |
| Lot Size | 400 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Employee Discount | ₹10.00 |
| Total Issue Size | 38,08,000 shares (agg. up to ₹100 Cr) |
| Reserved for Market Maker | 1,90,400 shares Choice Equity Broking Pvt.Ltd. (agg. up to ₹5 Cr) Rikhav Securities Ltd. |
| Fresh Issue (Ex Market Maker) | 28,94,000 shares (agg. up to ₹76 Cr) |
| Offer for Sale | 7,23,600 shares of ₹10 (agg. up to ₹19 Cr) |
| Net Offered to Public | 36,17,600 shares (agg. up to ₹95 Cr) |
| Share Holding Pre Issue | 1,13,65,200 shares |
| Share Holding Post Issue | 1,44,49,600 shares |
| BSE Script Code | 544504 |
| ISIN | INE0ZOM01013 |
Goel Construction IPO comprises a total issue size of 38,08,000 shares. The net offer to the public is 35,44,000 shares, after excluding 1,90,400 shares allotted on a firm basis and 73,600 shares under a preferential allotment. Of the Net offer 17,70,400 (49.95%) are allocated to QIB, 5,32,800 (15.03%) allocated to NII 12,40,800 (35.01%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 17,70,400 | 49.95% | 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 | 15.03% | 13.99% |
| − bNII > ₹10L | 3,55,200 | 9.33% | |
| − sNII < ₹10L | 1,77,600 | 4.66% | |
| Retail Shares Offered | 12,40,800 | 35.01% | 32.58% |
| Preferential Reservations | |||
| Employee Shares Offered | 73,600 | 1.93% | |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,90,400 | 5.00% | |
| Total Shares Offered | 38,08,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 800 shares and in multiples of 400 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 800 | ₹2,10,400 |
| Individual investors (Retail) (Max) | 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 |
Goel Construction IPO raises ₹27.93 crore from anchor investors. Goel Construction IPO Anchor bid date is September 1, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Sep 1, 2025 |
| Shares Offered | 10,62,000 |
| Anchor Portion (₹ Cr.) | 27.93 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Oct 4, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Dec 3, 2025 |
| 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 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 Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 | 9.73 |
| KPI | Mar 31, 2025 |
|---|---|
| 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 (₹) | 33.72 | 26.52 |
| P/E (x) | 7.8 | 9.92 |
| Promoter Holding | 97.7% | 71.83% |
| Market Cap | ₹380.02 Cr. |
The Goel Construction IPO is subscribed 124.34 times on September 4, 2025 5:04:34 PM (Day 3). The public issue subscribed 88.61 times in the individual investors category, 124.20 times in the QIB category, and 224.80 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for | Total Applications |
|---|---|---|---|---|
| QIB (Ex Anchor) | 124.20 | 7,08,400 | 8,79,82,000 | 0 |
| NII* | 224.80 | 5,32,800 | 11,97,73,200 | 0 |
| bNII (> ₹10L) | 280.68 | 3,55,200 | 9,96,98,800 | |
| sNII (< ₹10L) | 113.03 | 1,77,600 | 2,00,74,400 | |
| Individual Investor | 88.61 | 12,40,800 | 10,99,45,600 | 0 |
| Employee | 1.01 | 73,600 | 74,400 | 0 |
| Total | 124.34 | 25,55,600 | 31,77,75,200 | 1,77,704 |
Total Applications: 1,77,704
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager fees [including underwriting] | 6.32 |
| 2 | Brokerage, selling commission and other uploading fees | 0.06 |
| 3 | Fees payable to Registrar to the Offer | 0.02 |
| 4 | Fees to the legal advisor, audit / chartered accountant fees | 0.19 |
| 5 | Advertising and marketing expenses | 0.38 |
| 6 | Fees payable to regulators including stock exchange | 0.18 |
| 7 | Printing and distribution expenses | 0.02 |
| 8 | Fees payable to Industry Report provider | 0.05 |
| 9 | Miscellaneous | 0.82 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹263.00 |
| Open | ₹302.50 |
| Low | ₹302.05 |
| High | ₹317.60 |
| Last Trade | ₹317.60 |
Lead Manager Reports
Goel Construction IPO is a SME IPO of 38,08,000 equity shares of the face value of ₹10 aggregating up to ₹100 Crores. The issue is priced at ₹263 per share. The minimum order quantity is 400.
The IPO opens on Tue, Sep 2, 2025, and closes on Thu, Sep 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 Tue, Sep 2, 2025 and closes on Thu, Sep 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 Tue, Sep 9, 2025. Check the Goel Construction IPO allotment status.
The Goel Construction IPO listing date is on Tue, Sep 9, 2025.
