Goel Construction soars 15% on BSE SME debut
Goel Construction Company kicked off trading strong on the BSE SME platform, opening at ₹302.50—a 15% jump over its IPO price of ₹263.
The ₹100 crore IPO was a hot ticket, oversubscribed by 124 times between September 2 and 4.
Goel Construction's business in numbers
Based in Jaipur since 1997, Goel Construction handles big civil and structural projects for industries like cement, power, steel, dairy, and pharma.
They've wrapped up 19 major projects worth ₹1,135 crore so far and are currently working on 14 more across eight states.
For the financial year ending March 2025, revenue shot up by nearly 53% to ₹590 crore and profit climbed about 69% to ₹38.3 crore compared to last year.
IPO proceeds and future plans
Most of the fresh funds—₹41.7 crore—will go toward buying new equipment and vehicles; another ₹23 crore will help pay down loans.
The rest will support ongoing projects and future growth plans as the company keeps expanding its footprint.