Goel Construction IPO
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Goel Construction IPO details
Schedule of Goel Construction
| Issue open date | 02 Sep 2025 |
| Issue close date | 04 Sep 2025 |
| UPI mandate deadline | 04 Sep 2025 (5 PM) |
| Allotment finalization | 08 Sep 2025 |
| Refund initiation | 08 Sep 2025 |
| Share credit | 09 Sep 2025 |
| Listing date | 10 Sep 2025 |
| Mandate end date | 19 Sep 2025 |
| Lock-in end date for anchor investors (50%) | 08 Oct 2025 |
| Lock-in end date for anchor investors (remaining) | 07 Dec 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Goel Construction
Goel Construction Company is engaged in civil and structural construction works, delivering turnkey projects across industries such as cement, power, steel, dairy, pharmaceuticals, and institutional infrastructure. Established in 1997 and headquartered in Jaipur, the company has executed over 100 large-scale projects across multiple Indian states. It has a workforce of over 700 professionals and around 5,000 skilled workers, supported by modern equipment for large project execution.
Financials of Goel Construction
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹99.77 crores |
| Fresh Issue | ₹80.81 crores |
| Offer for sale | ₹18.96 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure | 43 (53.21%) |
| Repayment/ prepayment, in full or part, of all or certain outstanding borrowings and accrued interest | 24.31 (30.08%) |
| General corporate purposes | 12.12 (15%) |
| Miscellaneous | 1.47 (1.82%) |
Strengths
- Wide sectoral presence across cement, power, steel, dairy, pharma, and institutional projects.
- Over 100 completed projects with pan-India execution capabilities.
- Strong manpower and equipment base enabling efficient project delivery.
- Prestigious client base with repeat orders, ensuring business continuity.
- Consistent growth in revenues, profitability, and order book size.
Risks
- Thin operating margins typical of the construction sector.
- Execution challenges in managing multiple large-scale projects simultaneously.
- Sectoral dependence on core industries such as cement, power, and steel.
- Working capital-intensive operations may pressure liquidity.
Allotment Status for Goel Construction
To check your allotment status – click here.
Subscription Figures for Goel Construction
As per media reports (Link), the Grey Market Premium (GMP) of Goel Construction is reported at ₹58 over the IPO price. This metric is not reliable, and to track IPO interest, it is better to check subscription numbers published by exchanges, which are considered more reliable indicators.
Subscription numbers as of 5:00 PM on September 04, 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 7.08 | 879.82 | 124.20x |
| NII | 5.32 | 1197.73 | 224.80x |
| Retail | 12.40 | 1099.45 | 88.61x |
| Employees | 0.73 | 0.74 | 1.01x |
| Total | 25.55 | 3177.75 | 124.34x |