BSE SME Goel Construction Company IPO subscribed 2.39 times

The initial public offer (IPO) of Goel Construction Company received bids for 65,49,600 shares as against 27,46,000 shares on offer, as per BSE data as of 17:00 hours on Tuesday (2 September 2025). The issue was subscribed 2.39 times. The issue opened for bidding on Tuesday (2 September 2025) and it will close on Thursday (4 September 2025). The price of the IPO is fixed between Rs 250-263 per share. The minimum order quantity is 400 equity shares. The equity shares will list on BSE’s SME platform. The IPO comprises fresh issue of 30,84,400 shares and offer for sales (OFS) upto 7,23,600 shares. The promoter shareholding in the company will dilute to 69.63% post- IPO from 95.99% pre-IPO. About 1,90,400 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 76,000 equity shares. The issue and the net issue will constitute 26.35% and 24.51% respectively of the post issue paid up equity share capital of the company. The company intends to utilize the net proceeds to purchase additional equipments and fleets, repayment or prepayment of certain outstanding borrowings availed by the company and general corporate purposes. Goel Construction Company is engaged in construction of cement plant, power plant and dairy plant and other industrial plants. As on 30th June 2025, the company has 1,191 permanent employees. The company has 14 ongoing projects across eight states in India, with an order book of Rs 596.60 crore. Ahead of the IPO, Goel Construction Company on Monday, 1 September 2025 raised Rs 27.39 crore from anchor investors. The board allotted10.62 lakh shares at Rs 263 each to 9 anchor investors. The company recorded revenue from operations of Rs 589.98 crore and net profit of Rs 38.32 crore for the period ended 31 March 2025.