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Goel Construction IPO
Price Band
₹250.0–263.0
Issue Size
₹100.15 Cr
Lot Size
400 shares
Min Investment
₹210,400
2 LOTS MIN
GMP
+₹50.0 (19.01%)
Issue Price
₹263.0
Subject to Sauda
₹15200
Paid only if allotted
Goel Construction IPO AI Summary
- Goel Construction IPO is listed on BSE SME in the Civil Construction sector.
- Price band: ₹250.0–₹263.0 per share, lot size 400 shares (min. investment ₹210,400, 2 lots minimum).
- Subscription window: 02 Sep–04 Sep 2025, listing on 09 Sep 2025.
- Current GMP is +₹50.0 (19.01%), an estimated listing price of ₹313 — unofficial and can change daily.
Goel Construction Company Limited is a well-established player in the civil construction sector, with a strong project execution capability and a significant order book. The company is looking to raise funds through its IPO to enhance its operational capacity and manage debt.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Goel Construction IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 04 Sep 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Goel Construction IPO Grey Market Premium (GMP) Today
GMP
+₹50.0
GMP %
+19.01%
Est. Listing
₹313.0
Updated: 25 Jul 2026 14:13
About the Company
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. Competitive Strengths 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.
Company Financials (₹ Cr)
As of 2025-03-31
| 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 |
Key Ratios
EPS
₹33.72
NAV
₹115.78
ROCE
33.69%
RoNW
34.09%
P/B Value
2.27
P/E Ratio
7.8
Market Cap
₹380.02 Cr
PAT Margin
6.50%
Debt/Equity
0.22
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Ahluwalia Contracts (India) | 268.71 | 11.19% | 31.52 | 30.08 | 30.08 |
| Suntech Infra Solutions | 32.74 | 24.05% | 8.77 | 7.98 | 7.98 |
| Power Mech Projects | 665.9 | 14.27% | 33.03 | 95.05 | 95.05 |
| Goel Construction Company This IPO | 115.78 | 34.09% | 7.77 | 33.72 | 33.72 |
Promoters
Purushottam Dass Goel, Arun Kumar Goel, Naresh Kumar Goel, Ratan Kumar Goel, Amit Goel, Anuj Goel, Ashwani Goel, Chinmay Goel, Mohak Goel, Soni Goel, Isha Goel, Nirmala Goel and Suman Goel
Objects of the Issue
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 4 Issue Expenses 8.04 Total 82.56
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income increased from ₹272.94 Cr for the period ending 31 Mar 2023 to ₹388.79 Cr by 31 Mar 2024, and further rose to ₹594.34 Cr by 31 Mar 2025. This shows a consistent upward trend in revenue over the reported periods.
Profit Trend
Profit After Tax grew from ₹14.30 Cr in the period ending 31 Mar 2023 to ₹22.64 Cr by 31 Mar 2024, and increased to ₹38.32 Cr by 31 Mar 2025. This indicates a positive trend in profitability across the periods.
Valuation
At the issue price of ₹263.0, Goel Construction's implied P/E ratio is approximately 7.8, compared to peers trading at P/E ratios ranging from 8.77 to 33.03.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the premium at which shares are expected to trade in the unofficial market before listing. A positive GMP suggests that investors are optimistic about the stock's performance post-listing.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's important to consider the company's financial health and market position.
Who May Want to Wait
Investors who prefer stable, low-risk investments or those averse to the inherent uncertainties of the construction sector may want to avoid this IPO.
IPO Timeline, Explained
The IPO opens on September 2, 2025, and closes on September 4, 2025. Allotment of shares will be done by September 8, 2025, with the listing date set for September 9, 2025.
Listing Gains — The Risk
Listing gains can be unpredictable. While some IPOs may see a surge in price on the listing day, others may not perform as well. Investors should be prepared for potential fluctuations in stock price post-listing.
This evaluation is generated from Goel Construction's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Goel Construction IPO GMP today?
Goel Construction IPO GMP today is +₹50.0 (19.01%), indicating an estimated listing price of ₹313. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Goel Construction IPO?
The price band of Goel Construction IPO is ₹250.0–₹263.0 per share.
When does Goel Construction IPO open and close?
Goel Construction IPO opens on 02 September 2025 and closes on 04 September 2025.
When does Goel Construction IPO list on the stock exchange?
Goel Construction IPO listed on 09 September 2025 at ₹313.0.
What is the lot size for Goel Construction IPO?
The lot size for Goel Construction IPO is 400 shares, requiring a minimum investment of ₹210,400 (2 lots).
What is the price band for the IPO?
The price band for the IPO is ₹250 to ₹263.
What is the lot size for this IPO?
The lot size for this IPO is 400 shares.
What is the minimum investment required?
The minimum investment required is ₹210,400.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium of the stock in the grey market before its official listing.
When is the listing date for the IPO?
The listing date for the IPO is September 9, 2025.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
02 Sep 2025
Close
04 Sep 2025
Allotment
08 Sep 2025
Listing
09 Sep 2025
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