Goel Construction IPO opens today with 20% GMP. Key details to know before subscribing

The Rs 99.77 crore IPO of Goel Construction will open for subscription on September 2 and will close on Thursday. The civil and infrastructure company’s shares are scheduled to list on the BSE SME platform on September 10.

The IPO consists of a fresh issue of shares worth Rs 80.81 crore and an offer for sale (OFS) of Rs 18.96 crore by promoter selling shareholders.

Price band and lot size

The price band has been set at Rs 249–262 per share. Investors can bid for a minimum of 800 shares per lot, requiring an investment of Rs 2.09 lakh at the upper price band.

Out of the total 38.08 lakh shares on offer, 46.48% are reserved for qualified institutional buyers (QIBs), 13.96% for non-institutional investors (NIIs), and 32.56% for retail investors. An employee quota of 76,000 shares has also been reserved.

Goel Construction IPO GMP

In the unlisted market, Goel Construction’s shares are trading at a 20% premium over the IPO price. This indicates listing expectations in the range of Rs 310–315 per share, compared with the upper price of Rs 262.

Company overview

Incorporated in 1997, Goel Construction (GCCL) is engaged in civil and structural works across sectors such as cement, power, steel, pharmaceuticals, dairies, hospitals, and institutional projects.

The company has executed 19 projects worth Rs 1,134.99 crore across several Indian states and, as of June 30, 2025, has 14 ongoing projects backed by an order book of Rs 596.60 crore, providing visibility for future revenues.

Goel Construction owns a fleet of 202 construction equipment and machinery, ranging from tower cranes and excavators to batching plants and compactors, enabling timely execution.

Financials

The company reported a 53% rise in revenue to Rs 594.34 crore in FY25, while profit after tax jumped 69% to Rs 38.32 crore.

IPO objectives

Net proceeds from the fresh issue will be used for purchasing additional equipment and fleets (Rs 41.74 crore), repayment of borrowings (Rs 23.05 crore), and general corporate purposes.

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