The Goel Construction IPO opened on September 2, 2025, and closed on September 4, 2025, with a price band of ₹250 to ₹263 per share. Goel Construction Company Limited, established in 1997 and based in Jaipur, specializes in civil and structural construction across industries such as cement, power, steel, dairy, pharmaceuticals, and institutional projects. The Goel Construction IPO is listed on the BSE SME platform, providing investors access to an established construction firm with diverse sector exposure.
₹50
₹263
₹302.50
Expert Opinions
The Goel Construction IPO has received positive market sentiment, emerging as one of the notable SME IPOs of 2025 with strong investor interest. The company’s strengths lie in its extensive experience in civil and structural projects across industries such as cement, power, steel, and pharmaceuticals. It boasts a healthy order book worth over ₹596 crore, providing revenue visibility, along with an experienced technical team and a substantial equipment fleet supporting efficient project execution.
Financially, the Goel Construction IPO reports a robust Return on Equity (ROE) of 34.09%, a Return on Capital Employed (ROCE) of 33.69%, and a Net Asset Value (NAV) of ₹115.78 for FY 2025, signaling solid profitability and capital efficiency. Risks include project execution delays, sector cyclicality, and SME-specific liquidity challenges. From a long-term perspective, the IPO offers exposure to India’s growing infrastructure sector backed by steady order flow and proven capability, suitable for investors with a moderate to high-risk appetite.
Investor Considerations
The Goel Construction IPO presents a company with strong performance and solid fundamentals, having grown revenue from ₹388.79 crore in FY 2024 to ₹594.34 crore in FY 2025, alongside a profit after tax increase from ₹22.64 crore to ₹38.32 crore. The sector outlook remains positive as infrastructure development continues across multiple industries in India. The Goel Construction IPO valuation highlights a Price to Book Value of 2.27, a PAT margin of 6.50%, and a low Debt/Equity ratio of 0.22, showcasing prudent financial management.
Growth prospects are underpinned by a healthy order book and the company’s diverse sector presence. Risks include project execution delays, concentrated client exposure, and sector cyclicality. Suitable for long-term investors seeking exposure to infrastructure growth, short-term investors should consider potential market volatility and SME-specific liquidity constraints.
| Date | GMP | Trend |
|---|---|---|
| 09 Sep 2025 11.22 | ₹50 | --- |
| 07 Sep 2025 13.24 | ₹50 | --- |
| 06 Sep 2025 10.35 | ₹50 | --- |
| 05 Sep 2025 11.53 | ₹50 | Down |
| 04 Sep 2025 15.19 | ₹55 | --- |
FAQs
The Grey Market Premium showed good accuracy in predicting Goel Construction IPO’s listing performance. With a final GMP of ₹50, it projected a premium of 19.01% over the issue price of ₹263. The stock listed at ₹302.50, delivering a gain of 15.02%. This resulted in a small prediction error of 3.99%, where the GMP correctly signaled a positive listing and fairly aligned with the actual gain, reflecting fair reliability in this case.
Goel Construction IPO Current GMP is ₹50.
Goel Construction IPO Expected Returns is 19.01%.
Goel Construction IPO estimated listing price is ₹313.