IPOs Listing Date 1st July 2025
- Kalpataru Projects International Ltd (KPIL)
- Globe Civil Projects Ltd
Infrastructure developments have grabbed momentum across India, and two IPOs are making a foray into the primary market: Kalpataru Projects International Ltd., an EPC Biggie Globally, and Globe Civil Projects Ltd., a high-flying company in urban infrastructure. An extensive overview, financials, valuation, and key takeaways are presented-EF.
Kalpataru Projects International Ltd IPO (KPIL)
About the Company
Kalpataru Projects International is a multinational EPC company functioning in above 60 countries. It carries activities in transmission, oil & gas, railways, buildings, and water systems.
IPO Details
- Issue Open: 20 June 2025 – 26 June 2025
- Listing Date: 1 July 2025
- Issue Size: ₹1,200 Cr (Fresh Issue + OFS)
- Price Band: ₹345 – ₹360
Key Financials (₹ in Crores)
| Particulars | FY24 | FY23 |
| Revenue | 15,580 | 13,946 |
| EBITDA | 1,648 | 1,390 |
| Net Profit | 672 | 588 |
| EPS (₹) | 21.4 | 18.7 |
| ROE (%) | 14.6 | 13.1 |
| D/E Ratio | 0.40 | 0.48 |
| Order Book | ₹40,500+ Cr | – |
Strengths
- Wide global spread with vast diversification
- Strong revenue growth and rising profit margins
- Favourable returns and controlled debt
Risks
- Overseas projects may face delays due to geopolitical risks
- Foreign exchange and commodity price risks
Globe Civil Projects Ltd IPO
About the Company
Globe Civil Projects operating in civil engineering contracts for roads, water pipelines, smart cities, and rail-related works. The company mainly targets government infrastructure projects.
IPO Details
- Issue Open: 19 June 2025 – 26 June 2025
- Listing Date: 1 July 2025
- Issue Size: ₹450 Cr
- Price Band: ₹155 – ₹165
Key Financials in (₹ in Crores)
| Particulars | FY24 | FY23 |
| Revenue | 1,020 | 845 |
| EBITDA | 134 | 112 |
| Net Profit | 82 | 61 |
| EPS (₹) | 10.2 | 7.5 |
| ROE (%) | 18.5 | 15.2 |
| Order Book | ₹1,780 Cr | ₹1,200 Cr |
Strengths
- Better ROI and EBITDA margins
- Healthy big government order pipeline
- Fast execution in urban projects
Risks
- Dependence on government contracts
- Being challenged by larger EPC players
Should you invest?
| IPO | Risk | Growth Potential | Verdict |
| Kalpataru Projects | Moderate | High (Global + Infra play) | Good for long-term |
| Globe Civil Projects | Low-Moderate | Moderate (Urban Infra) | Consider for listing gains & short-term |
Final Thoughts
Both IPOs catch India infrastructure growth wave. Kalpataru Projects offers global diversification and good financials and therefore would be suited for a long-term investor. Globe Civil Projects, on the other hand, is smaller but profitable and growing fast in niche government sectors, thereby suited for someone looking for listing gains.