Goel Construction Company Limited

This section provides a general summary of disclosures and the terms of the offer included in the Prospectus, emphasizing that it is not exhaustive and should be read in conjunction with detailed information elsewhere in the document. The company is a construction contractor focused on industrial plants and infrastructure projects, emphasizing quality, timely execution, and adherence to specifications. They have successfully executed 19 projects with an aggregate contract value of ₹1,13,499.37 Lakhs over the last four years, and currently have 14 ongoing projects with an order book of ₹59,660.28 lakhs as of June 30, 2025. The industry context highlights the construction sector's vital role in the Indian economy and its linkages with numerous ancillary industries.

This section primarily discusses industry overview, macroeconomic scenarios, and historical economic data, rather than specific details about the issuer's operations. It details various projections for the global and Indian economies, including GDP growth forecasts, inflation trends, and the impact of trade tariffs. It also provides sector-specific performance data for the Indian economy, such as growth in industrial, services, and agriculture sectors, as well as trends in Investment and Consumption.

The provided text details various economic indicators related to India, including quarterly and yearly growth trends, inflation scenarios, and the broader economic outlook. It covers fluctuations in quarterly growth rates, changes in inflation across different goods, and the impact of monetary policy decisions by the RBI. Furthermore, it discusses the growth drivers such as the expanding middle class and the government's focus on infrastructure development, alongside projections for India's economic growth and global standing.

The section discusses India's economic growth, particularly the shift towards the service sector, and the impact of urbanization on infrastructure demand. It details the growth in urban population and the resulting need for improved infrastructure, including housing, water, and transport. Furthermore, the text covers trends in Foreign Direct Investment (FDI) into India, noting facilitation measures that have streamlined investment processes. The construction sector is highlighted as a vital part of the economy, supporting various industries and having a significant impact on Gross Value Added (GVA).

The construction sector faces downside risks such as constrained credit flow and the impact of rupee depreciation on input costs, although the long-term outlook remains positive due to government initiatives like the National Infrastructure Pipeline and PM Gati Shakti. The sector shows strong growth, with the total economic output projected to rise significantly by FY 2030. Key segments like 'Dwellings, Other Buildings & Structures' are expected to remain dominant, while non-residential and infrastructure components are set for significant expansion. Growth is further propelled by government programs and private sector participation in commercial real estate and industrial development.

The text provides an overview of various sectors in India, including cement production, the power sector, and the dairy industry. Cement production has shown consistent growth in India, with various states contributing significantly to the output. The power sector is characterized by a mix of energy sources, with thermal power being the largest component. The dairy sector has seen substantial growth, positioning India as the world's largest milk-producing nation. The text also details the structure of the dairy industry, including cooperative and Milk Producer Companies, and the market scenario for milk production.

The text discusses capital expenditure trends across several key Indian sectors, including the cement, power, and dairy industries, highlighting expansion phases driven by infrastructure demands and government initiatives. It details significant investment in the cement industry for new plants, a surge in capex in the power sector for renewable and thermal capacity, and investment in the dairy sector to enhance processing and cold chain infrastructure. Furthermore, the text covers the infrastructure construction segment, detailing the role of transport and logistics, and the need for robust infrastructure to support India's economic growth goals.

The provided text discusses trends and challenges within the Indian education and healthcare sectors, alongside an overview of the competitive landscape in the construction industry. It details significant capital expenditure trends in both sectors, noting investment amounts and project announcements. Furthermore, it outlines various impediments to construction project execution, such as procedural formalities, financing hurdles, and regulatory complexities. The competitive construction market is characterized by fragmentation, intense price competition, and the influence of external factors like economic cycles and technological advancements.

The company operates as a construction contractor specializing in the execution of industrial plant and infrastructure projects. Its primary focus is on delivering construction services with a strong emphasis on quality, timely execution, and adherence to project specifications. The company has experience in various sectors, including the construction of cement plants, power plants, and dairy plants. They manage the complete project lifecycle, ensuring quality and adherence to client specifications through their understanding of industrial construction requirements and commitment to safety.

The company offers civil construction services across several industrial sectors, including Cement Plants, Power Plants, and Dairy Plants, covering everything from greenfield to brownfield projects. These services encompass various specialized civil and structural works such as clinkerization units, Balance of Plant (BOP) components, and dairy facilities, ensuring compliance with relevant standards. The company has a strong track record, having completed numerous projects and maintaining long-standing relationships with customers. The company demonstrates strong financial performance, with revenue growing at a CAGR of 47.62% over the last three fiscal years.

The company's financial performance metrics show various margins and returns, with details provided for comparison across different periods. The company emphasizes that its financial stability allows it to undertake larger and more complex projects. A critical aspect of their operations involves the effective management of equipment and fleet, which is essential for maintaining construction timelines and quality standards. The company invests in acquiring new equipment and fleet to ensure continuous availability and operational efficiency. Furthermore, the company aims to diversify its project mix beyond cement plants into sectors like power plants, dairy plants, and steel plants. Geographically, the company is expanding its presence across 12 Indian states and plans to enter new markets. The company operates as a construction contractor primarily focused on industrial plants and infrastructure projects.

The company utilizes various raw materials for its projects, procuring principal materials like cement, steel, and aluminum on a spot basis from approved vendors, while other materials are sourced locally. The company engages with a diverse customer base across the cement, power, and dairy industries, with top customers accounting for a significant portion of the revenue. The business operates under various regulatory frameworks concerning construction workers, contracts, and employment laws. The company also maintains insurance coverage for operational hazards and has received several awards recognizing its performance in the construction industry.

This section primarily details various Indian laws and regulations applicable to the company's operations, covering labor laws, tax legislation, environmental regulations, intellectual property laws, and foreign exchange rules. It outlines specific acts concerning bonus payments, standing orders, gratuity, sexual harassment at the workplace, and various laws related to the handling of goods, services, and environmental impact. Furthermore, it lists numerous other labor laws, tax acts, and regulations that may apply to the company's business activities.

The company, originally incorporated in 1997, underwent a significant change in its legal status and name in 2024. The company's registered office location has been updated, and the Memorandum of Association has seen several amendments regarding the name and authorized share capital over the last ten years. The company has a history of executing numerous large infrastructure projects, including in the construction of cement, dairy, and power plants, and has received several awards recognizing its safety and performance. The company currently does not have any significant financial partnerships, subsidiaries, or joint ventures.

The definitions section outlines various terms used in the Prospectus. It specifies that the company is Goel Construction Company Limited, a public limited company incorporated in India under the Companies Act, 1956, with its registered office in Jaipur. Key personnel such as the Managing Director is Mr. Purushottam Dass Goel, and the Statutory and Peer Reviewed Auditor is M/s. Ravi Sharma & Co., Chartered Accountants. The company's Corporate Identification Number (CIN) is U45201RJ1997PLC013937.

This section details various aspects related to the public offering process, including where to submit forms, the nature of the prospectus, and the flow of funds. It specifies that the Draft Red Herring Prospectus was filed with the Stock Exchange and that refunds can be processed through various electronic transfer methods. The text also outlines different categories of investors eligible for participation, such as Eligible Employees, Eligible NRIs, and Qualified Foreign Investors, along with details on the size and nature of the issue.

The provided text outlines various definitions and terms related to financial and regulatory concepts, including bidding mechanisms, definitions for working days, various business-related terms, and financial ratios. It details terms like UPI, various financial metrics such as Debt-Equity Ratio and EBITDA Margin, and different types of investment funds and regulations.

This section outlines various conventions regarding the use of financial information, market data, and currency within the Prospectus, specifying references to the Republic of India and its various governments. It details how financial data is derived from Restated Financial Statements and notes the differences between Indian GAAP, U.S.GAAP, and IFRS, cautioning readers not to rely solely on these disclosures. Furthermore, it clarifies the units used for numerical figures, the currency references, and the source of industry and market data, which is derived from a report commissioned by the company.

The Selling Shareholders have consented to the Offer for Sale, which is proposed to constitute 26.35% of the post-offer paid-up Equity Share capital. The Offer details include the number of shares held by various Selling Shareholders and the corresponding number of shares offered for sale. The proposed utilization of the net proceeds from the Fresh Issue is detailed, allocating funds towards capital expenditure, debt repayment, and general corporate purposes. The table shows the estimated deployment of these funds across fiscal years.

This section details the various aspects of the company's capital structure, including the authorized, issued, and paid-up share capital, as well as the history of share allotments. The data shows the structure of the share capital as of the prospectus date, the details of the offer for sale, and a comprehensive history of share issuances through various private placements and other means. Furthermore, it outlines the history of changes to the authorized share capital over time.

The section details the shareholding pattern of the company as of the date of the Prospectus, including a list of various shareholders and the corresponding number of equity shares they hold. The data is presented in a structured format showing different categories of shareholders, such as Promoters and Promoter Group, Public, and Non Promoter-Non Public. The table also provides various metrics related to the shareholding, including percentages of total shares held and the number of voting rights.

The section details the shareholding pattern of public shareholders and non-promoter, non-public shareholders. The promoter and promoter group held a significant portion of the total equity shares. The public shareholding details are categorized across various investor types, including domestic and foreign entities. The non-promoter non-public shareholding includes holdings from a Custodian/DR Holder and an Employee Benefit Trust, along with holdings by Mr. Piyush Goel.

This section details various aspects of the company's shareholding structure, including lists of shareholders holding 1% or more of the paid-up share capital on different dates. It also provides information on the build-up of promoter shareholding since the company's incorporation, showing transactions such as cash subscriptions, further issues, and bonus issues. Furthermore, the data includes details on the transfer of shares by gift or other means, which impacts the percentage of the post-offer capital.

This section details various transactions and shareholding movements involving different promoters and directors over time, including cash transfers and bonus issues. It also outlines specific lock-in provisions for a portion of the promoter's holding, requiring certain shares to be held for specified periods. Furthermore, the document confirms that no financing arrangements were in place for the purchase of securities by others and that no equity shares held by the promoters are pledged.

This section details various compliance and offer-related disclosures, including the status of promoter shareholding and the structure of the offer. It clarifies that the company has no outstanding convertible instruments and sets forth reporting timelines for transactions by the promoter and promoter group. Furthermore, it specifies that the offer involves a fresh issue of equity shares, and outlines the intended utilization of the net proceeds, which includes capital expenditure for equipment and fleet, repayment of borrowings, and general corporate purposes. The document also discusses the process for funding these objects and the flexibility management has in deploying the funds.

This section details the proposed purchase of various equipment and fleets, including construction machinery and tower cranes, for the company. It outlines the cost breakdown for these items, noting that a portion of the net proceeds will be utilized for these acquisitions. Furthermore, the text discusses the repayment of outstanding borrowings and the utilization of net proceeds for general corporate purposes, subject to certain limits. It also covers the process for offer-related expenses and the monitoring of fresh issue proceeds.

The section discusses provisions regarding the variation of the company's objects, requiring shareholder approval through a special resolution and adherence to applicable laws. It also clarifies that no proceeds will be paid to promoters or related parties except for the proceeds received from an Offer for Sale. The section details the basis for determining the Offer Price, which involves consultation with BRLM based on market demand and various qualitative and quantitative factors. Quantitative factors include Basic and Diluted Earnings Per Share (EPS), Price to Earnings (P/E) ratios, Return on Net Worth (RoNW), Return on Capital Employed (RoCE), Debt-to-Equity Ratio, and Net Asset Value (NAV).

The provided section details various Key Performance Indicators (KPIs) and financial ratios for the company, including EBITDA Margin, Net Profit after Tax, Net Profit Margin, Return on Net Worth, Return on Capital Employed, Debt-Equity Ratio, and Net Worth across different periods. It also outlines procedures for calculating the Weighted Average Cost of Acquisition (WACA) for equity shares based on primary and secondary transactions. Furthermore, the text discusses various special tax benefits available to the company and its shareholders under Indian tax laws, including provisions related to corporate tax rates, dividend income, capital gains tax, and the simplified/new tax regime.

This section discusses the applicability of special tax benefits under various Indian laws, including GST, Customs, and Foreign Trade regulations. It clarifies that no special tax benefits are available to the Company or its shareholders under the mentioned acts. Furthermore, it notes that the ability to derive these benefits depends on the fulfillment of prescribed conditions by the Company or its shareholders, which may not be chosen based on business imperatives. The statement is intended for general investor information and is not a substitute for professional tax advice.

The document outlines various contingent liabilities and related party transactions for the company. It details civil litigation proceedings involving the promoters and key management personnel, as well as various financial liabilities such as GST matters and TDS demands. Furthermore, the document provides extensive details on related party transactions, including remuneration, salaries, and various financial flows, categorized by different financial years.

The risk factors section highlights several uncertainties related to the execution of ongoing projects, including potential delays, modifications, or cancellations due to various reasons beyond the company's control. These implementation risks encompass issues such as client approvals, design revisions, scope changes, and potential disputes with sub-contractors or workers. Furthermore, there are risks concerning the timely delivery of raw materials, equipment, and skilled manpower, as well as potential issues with regulatory approvals and financial requirements that could render projects unprofitable. Additionally, the order book may not accurately reflect future results, as it represents secured but uncompleted contractual commitments.

The company's order book is concentrated in cement plants, power plants, and dairy projects, with potential risks arising from contract cancellations, scope changes, or client defaults which could impact realized earnings. There is a risk of not being able to secure future work orders due to competition and the difficulty in meeting pre-qualification criteria. Furthermore, significant revenue is derived from a limited number of clients, increasing revenue volatility. The company also faces risks related to the obsolescence or breakdown of owned equipment and fleet, which can increase costs, and potential liabilities arising from service defects or insurance coverage inadequacies. Finally, there are concerns regarding delays in regulatory filings and the untraceability of certain corporate records.

The company faces risks related to negative cash flows, which could negatively impact its business and financial condition. There are ongoing legal proceedings involving the company, its promoters, and directors, which pose a risk to its reputation and financial standing. Furthermore, the company relies on third-party sub-contractors, exposing it to performance issues, cost overruns, and potential liability claims. Operational risks include dependence on contract labor availability, reliance on raw material suppliers, and exposure to delays or price fluctuations in construction materials. Finally, the company has a history of delays in filing GST returns, which may lead to regulatory scrutiny and penalties.

The company faces various risks related to external environments, including economic, political, and social instability that could impact projects. Operational risks include hazards at construction sites, potential equipment failure, and accidents that could cause loss of life or property. There are concerns regarding the reliability of insurance coverage, the traceability of key personnel's educational qualifications, and potential non-compliance with statutory and regulatory requirements, including labor laws and environmental regulations. Furthermore, the company is exposed to risks from related party transactions, competition, seasonal variations in work progress, and difficulties in securing future funding.

The company faces several risks related to financial claims, operational dependencies, and market conditions. Risks include potential write-downs due to unestablished reserves, liability for substandard work from suppliers, and dependence on economic health in key sectors like Cement, Power, and Dairy. Furthermore, the company is vulnerable to economic downturns, credit tightening, and changes in industry needs or technology. There are also risks concerning interest rate fluctuations, the ability to manage growth and execution of strategies, and challenges in adapting to changing market requirements. Finally, there are concerns regarding intellectual property protection, promoter control, and the increased burden of compliance as a public listed company.

The prospectus outlines several risks related to shareholder rights, including potential dilution of ownership due to pre-emptive rights restrictions under Indian law. There are concerns about the enforceability of judgments obtained in foreign courts against the company and its officers, as India may not recognize such judgments. Furthermore, the business is exposed to political instability, changes in economic liberalization policies, and various macroeconomic factors affecting India. The company is also subject to various regulatory and economic uncertainties beyond its control.

This section provides a summary of the company's financial statements for the years ended March 31, 2025, 2024, and 2023, detailing changes in equity and liabilities. The data includes figures for share capital, reserves, borrowings, provisions, and various assets and current liabilities. The text also includes details regarding the company's incorporation history and the details of its Board of Directors.

This section details various compliance and advisory roles related to the issuance process, including the identification of key personnel such as the Chief Financial Officer and Company Secretary, and the listing of various service providers like Book Running Lead Managers, Legal Counsel, and Auditors. It also outlines procedures for investor grievances, the roles of different intermediaries like Syndicate Banks, Registered Brokers, and Depository Participants, and the regulatory filings involved in the offer process. Furthermore, it specifies the methodology for the book-building process and the allocation of securities to different investor categories.

This section details various aspects of the offer process, including allocation proportions, bidder participation rules, and the role of underwriters and market makers. It specifies minimum allocation percentages for different bidder categories and outlines restrictions on bid revisions for various investors. Furthermore, it covers the regulatory framework, such as compliance with SEBI ICDR Regulations, and the obligations of market makers regarding quoting, inventory management, and potential penalties.

The section confirms the absence of outstanding criminal proceedings, actions by regulatory or statutory authorities, or outstanding claims related to direct and indirect taxes involving the Company, its Directors, Promoters, or Group Company. It also states that no disciplinary actions including penalties by SEBI or Stock Exchanges have been imposed on the Promoters in the last five financial years. The text details several material civil litigations, including a civil suit filed by Kuber Alloys against Goel Construction Co. Pvt. Ltd. and others, and a petition filed by Kuber Alloys seeking to set aside a lower court's order. Furthermore, it lists pending litigation by the Company against Haryana State Roads and Bridges and Development Corporation Limited for recovery of dues related to a construction contract, and an appeal filed by Goel Construction Company Private Limited challenging an order related to payment of wages. The section also details various tax proceedings and outstanding dues to creditors.

This section primarily lists various Certificates of Registration for goods and services tax under different State and Central Goods and Services Tax Acts, all of which are currently valid till cancelled. Additionally, it details two Labour Law-related approvals, specifically contractor licenses for project sites in Madhya Pradesh and a license for a project site in Khawaspura, which are valid until 2025.

This section details several contractor license proceedings under the Contract Labour (Regulation and Abolition) Central Rules, 1971, across various regions in India. The proceedings involve obtaining licenses for project sites in different villages and locations within various districts and states. These matters were addressed by different Government of India offices and regional labour commissioners, with various dates spanning from late 2025 to early 2026.

This section primarily lists various registrations and licenses under different insurance and labor laws. Several registrations under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952, and the Employees’ State Insurance Act, 1948, are mentioned, all of which are noted as cancelled. Furthermore, there are mentions of obtaining Inter-state Migrant Worker Licenses for project sites in specific districts.

This section primarily details various certificates of registration obtained for employers for project sites under the Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Central Rules, 1998, across several states. It also lists numerous other approvals, including Udyam Registration, Import Export Code (IEC), Business Registration Number, and registrations under various Shops and Establishments Acts for Rajasthan.

This section primarily lists various Labour Identification Numbers for different project sites across various locations in different states, all under the Ministry of Labour & Employment notifications. It details the specific Labour Identification Number, the corresponding site location, and the relevant Labour Commissionerate for each site. Additionally, it mentions that the company has applied for the registration of trademarks and a device mark under the Trade Marks Act.

The section details various approvals, compliance confirmations, and eligibility criteria related to the offer. The Board of Directors authorized the offer, and shareholders approved it under the Companies Act, 2013. The selling shareholders confirmed compliance with SEBI ICDR Regulations. The company obtained 'in-principal' approval from BSE for using its name in the Prospectus. Furthermore, the company confirmed compliance with various regulations concerning significant beneficial ownership, market association, and other statutory requirements for the listing process.

The section primarily discusses various legal disclaimers, responsibilities, and compliance statements related to the issuance of the Prospectus. It clarifies that filing the prospectus does not absolve the company of liabilities under the Companies Act, 2013, and reserves the right for SEBI to address irregularities. It details the scope of responsibility between the company, its directors, and the Book Running Lead Manager. Furthermore, it outlines restrictions on who can invest in the offer and specifies the jurisdiction for disputes. The text also includes information regarding the listing of past IPOs handled by the Book Running Lead Manager.

The section details various aspects related to the listing of scrips, the process for handling investor grievances, and the terms of the offer. It mentions that the company is an "Unlisted Issuer" under SEBI ICDR Regulations, and clarifies that no stock market data is available for its equity shares. The company has appointed MUFG Intime India Private Limited as the Registrar to the Offer to manage investor grievances. Furthermore, it outlines the process for applying for offers, including the use of ASBA and UPI payment mechanisms as specified by SEBI circulars. It also details the structure of the Initial Public Offer, including the number of equity shares offered by the company and selling shareholders.

This section details various provisions related to share transfer restrictions, the process for withdrawing an offer, and the timeline for the public offering. It outlines that there are no restrictions on the transfer or transmission of equity shares except for the lock-in of pre-offer capital and certain provisions in the Articles of Association. Furthermore, it specifies procedures for the company to withdraw the offer in consultation with the Book Running Lead Manager, including public notices and subsequent actions for bidders. The section also covers the timeline for the bid/offer period, including opening, closing, and subsequent steps like finalization of the allotment basis and the initiation of refunds.

The section details various aspects related to the listing and trading of securities, including rules set by the BSE and SEBI. It specifies that the shares are proposed to be listed on the SME Platform of BSE Limited, requiring compulsory market making for a minimum of three years. Furthermore, it outlines rules regarding the minimum contract size for trading and the implications of foreign exchange regulations on investment. The text also discusses the allotment structure, including reservations for eligible employees and market makers, and the mode of bidding through the ASBA process.

This section details various terms related to payment, allocation, and offer procedures for public issues, including different investor categories. It outlines rules for anchor investors, eligible employees, and various portions of the offer, such as the QIB portion and the Non-Institutional portion. Furthermore, it discusses rules regarding the allocation of securities, the role of various intermediaries, and the phased implementation of the Unified Payments Interface (UPI) mechanism for payments. It also mentions requirements for bid submission, handling of discrepancies, and investor grievance redressal.

The section details the allocation structure for various investor categories, including QIBs, Mutual Funds, Non-Institutional Investors, and Individual Investors, specifying minimum allocation percentages for different segments of the offer. It outlines rules regarding the allocation of equity shares, including provisions for spill-over allocations between categories, and mandates for how bids must be submitted through various intermediaries and payment mechanisms like ASBA or UPI. Furthermore, it specifies requirements for investor documentation and clarifies restrictions on participation by certain promoter-related entities.

The section details various restrictions and procedures related to participation in the offer, including eligibility criteria for different categories of bidders, rules regarding application sizes, bidding processes, and handling of funds. It outlines specific requirements for individual bidders, non-institutional applicants, QIBs, Anchor Investors, Eligible NRIs, and HUFs. Furthermore, it specifies rules concerning the revision of price bands, the handling of bids, and the necessary documentation and payment mechanisms.

The section details various restrictions and requirements concerning bids from different investor categories, including FPIs, Limited Liability Partnerships, banking companies, SCSBs, insurance companies, and Systemically Important NBFCs. It specifies documentation required for bids from these entities, such as registration certificates, and outlines investment limits and rules based on various regulations like SEBI FPI Regulations, FEMA Rules, and insurance exposure norms. Furthermore, it outlines specific procedures for handling multiple bids and the participation of Anchor Investors and Qualified Institutional Buyers (QIBs).

This section details various requirements and procedures related to bids and applications, primarily concerning different types of entities and funds. It outlines specific documentation required for bids from insurance companies, provident funds, and limited liability partnerships. It also covers processes for receipt and validation of bid data, the collection of funds, and the subsequent allotment process. Furthermore, the text discusses the use of the ASBA process, rules regarding payment mechanisms, and the responsibilities of various intermediaries in the application process.

This section primarily outlines detailed instructions and compliance requirements for investors bidding in the securities market, covering various aspects such as document submission, fund availability, and adherence to regulatory guidelines. It specifies rules regarding bid withdrawal, the necessity of linking PAN with Aadhaar, and procedures for using UPI mechanisms for fund blocking. Furthermore, it details restrictions on bid amounts, the use of different bank accounts, and requirements for documentation related to various investor categories like QIBs and Anchor Investors.

This section details various procedural rules and grounds for technical rejections related to the submission of bids and applications for equity shares. It outlines requirements for bid documentation, timing restrictions for uploads, and various criteria that can lead to the rejection of bids, such as mismatches in identifying numbers or bid amounts, or bids falling outside specified price ranges. Furthermore, it explains the basis for allocation, including how under-subscription in certain categories may be handled through spill-over, and the procedure for allotment to different investor categories.

This section details various rules and procedures related to the allotment process, including different categories like Non-Institutional Bidders and QIBs, and the allocation rules for Anchor Investors. It outlines the flow of events from the closure of the bidding period to the final allotment, including validation of bids and the role of the Designated Stock Exchange. Furthermore, it specifies requirements for submitting bid forms, details for investor accounts, and the rights of the company and selling shareholders regarding the offer.

The Board of Directors certified several conditions regarding the utilization of offer proceeds, requiring funds to be transferred to a separate bank account and details of utilization to be disclosed in the balance sheet. The company committed to comply with SEBI Listing Regulations, 2015 concerning the disclosure and monitoring of these proceeds. Furthermore, the company stipulated that it would not have recourse to the offer proceeds until approval for listing and trading was received. The section also details agreements signed with Depositories for the dematerialized form of equity shares and specifies the ISIN number for the equity shares.

This section primarily defines various terms used within the company's governing documents, such as Independent Directors, Key Managerial Personnel, and different types of meetings. It also outlines provisions related to the company's financial powers, including restrictions on buying its own shares and providing financial assistance for share purchases. Furthermore, the text details the company's authority to buy back securities, the structure of share capital, and the conditions under which new shares can be issued, including provisions for employee stock option schemes and debentures.

This section details various provisions related to the company's share capital, including provisions for the application of Capital Redemption Reserve Account, redemption of preference shares, and the creation of further preference shares. It also outlines powers for the company to reduce its share capital, alter the division, consolidation, and cancellation of shares, and the modification of rights attached to different classes of shares. Furthermore, the text covers rules regarding the issue of certificates, the handling of unclaimed securities, and the conditions under which the company may pay commissions to underwriters.

This section primarily outlines the provisions related to calls made on shares and debentures, including the Board's power to make such calls, the notice period required for calls, and provisions for extensions or postponements. It details how sums due on shares are treated for the purpose of these articles, including the application of interest on unpaid amounts. Furthermore, the text covers the Company's lien on shares and debentures, the procedures for enforcing this lien through the sale of such securities, and the process for forfeiture of shares due to non-payment. It also specifies rules regarding the transfer and transmission of shares, including the requirements for instruments of transfer and the Directors' power to refuse to register such transfers.

This section primarily details the rules surrounding the transfer and registration of securities, including provisions for deceased holders, nominee elections, and the dematerialization of securities. It outlines various rights and liabilities concerning the transfer of shares, including restrictions on certain transfers and the Board's power to withhold payments if notices are not complied with within ninety days. Furthermore, the text covers the maintenance of registers of members and the rules for dealing with securities held in a depository system.

This section details various procedural requirements concerning the calling, notice, and conduct of meetings of the Company, including requirements for notice periods and quorum definitions. It outlines how notices must be served on members, auditors, and directors, and specifies rules for special business and the required explanatory statements to be annexed to the notice. Furthermore, the text covers provisions related to the passing of resolutions via postal ballot and the proper maintenance and recording of minutes from general and board meetings.

This section outlines various procedural and governance rules concerning the company's meetings, director appointments, and director tenure. It details presumptions regarding the validity of meeting minutes, requirements for reporting on annual general meetings, and the Board's responsibility for compliance with laws and regulations related to subsidiaries. Furthermore, the text covers rules for appointing key managerial personnel, limitations on the number of directors, and various provisions related to the appointment, removal, and disqualification of directors.

This section details various provisions related to the conduct of Directors and the Company's contractual dealings. It outlines restrictions on Directors contracting with the Company, the requirement for disclosure of directors' interests in contracts, and rules regarding contracts with related parties. Furthermore, the text covers procedures for entering into certain contracts, such as those with related parties, and the rules for loans and guarantees provided by the Company to directors or other entities. It also specifies procedures for the rotation and appointment of Directors, including the retirement of directors, and the process for filing candidatures for directorship.

This section details the various powers vested in the Board of Directors and the Company, outlining their authority to act on behalf of the company. It specifies powers related to financial matters, such as making calls on shareholders, borrowing money, investing funds, and approving financial statements. Furthermore, the text outlines the Board's authority to take over companies, make political contributions, and appoint key managerial personnel. The section also covers the Directors' powers concerning property acquisition, construction, mortgaging, insuring assets, opening bank accounts, and securing contracts.

This section details various powers and functions granted to the company, including its capacity to handle insolvency matters, manage receipts, invest funds, and provide for the welfare of employees. It outlines the company's ability to subscribe to various funds and its provisions for maintaining pension funds and supporting various institutions. Furthermore, the text covers the power to decide on the allocation of capital and revenue expenditures, create reserve funds, and the authority to appoint officers and delegates. The provisions also touch upon the company's ability to negotiate contracts and make bye-laws for its operations.

This section details various provisions related to dividends, capital, and the handling of shareholder rights. It outlines rules regarding dividend payments, the ability of the Board to declare dividends, and stipulations on how dividends are calculated based on amounts paid-up on shares. Furthermore, it covers procedures for dealing with unpaid dividends, the right of members to waive dividend rights, and the process for capitalizing certain funds into reserves or assets. The text also specifies requirements for maintaining books of accounts, the inspection rights of directors and members, and the procedures for filing financial statements with the Registrar.

This section details various provisions related to the service and delivery of documents, registers, and notices by the company, as well as the material contracts and documents that have been entered into or are planned for entry into the company. It outlines procedures for serving documents on members, directors, and auditors, and specifies the manner in which certain documents must be served or given to ensure proper notice. Furthermore, it lists numerous material contracts, resolutions, financial statements, and various certificates and reports related to an offer or filing process.

The provided section consists entirely of declarations from various directors certifying compliance with relevant provisions of the Companies Act, 2013, and regulations set forth by the Government of India or the Securities and Exchange Board of India. These declarations affirm that all statements made in the Prospectus are true and correct and comply with various acts including the Companies Act, the Securities Contracts (Regulation) Act, 1956, and the Securities and Exchange Board of India Act, 1992. The text includes signed certifications from the Chairman and Managing Director, a Whole-Time Director, an Additional Director, and an Independent Director.

The provided section consists entirely of declarations certifying compliance with various provisions of the Companies Act, 2013, and regulations set forth by the Government of India and the Securities and Exchange Board of India. These declarations are signed by the Director, the Chief Financial Officer, and the Company Secretary & Compliance Officer, affirming that the disclosures in the Prospectus are true and correct and comply with the relevant laws.

The company has six directors on its Board, including one Chairman and Managing Director, two Executive Directors, and three Non-Executive Independent Directors, with one of the Independent Directors being a woman. The document details the particulars of the Board members, including their qualifications, experience, and directorships. Key personnel relationships are disclosed, indicating familial ties between some directors and senior management personnel. Furthermore, the document outlines the terms of appointment and remuneration for the Executive Directors.

The management section details various aspects concerning the company's directors, including remuneration, shareholding, and related party transactions. It outlines sitting fees for Independent and Non-Executive Directors, confirms the absence of a performance-linked bonus or profit-sharing plan for directors, and discusses the deemed interest of directors based on remuneration, sitting fees, and shareholdings. The document also confirms that directors have not been involved in certain regulatory violations and lists recent changes in the Board composition and appointments.

The company has constituted a 'Stakeholders’ Relationship Committee' to address shareholder grievances, which includes resolving various issues such as share transfers, dividend receipts, and adherence to service standards. Key Managerial Personnel (KMP) and Senior Management Personnel (SMP) details are provided, including appointments and designations. Several individuals have been appointed or re-appointed as directors or in senior roles, with various dates for such changes being disclosed. The company confirms that no service contracts, contingent or deferred compensation, or employee stock option schemes are in place for KMP and SMPs. Furthermore, the company commits to complying with Insider Trading regulations and has established a code of conduct for employees.

The provided text snippet is a heading indicating the section dedicated to the Management Organisation Structure within the company's documents.

The company has a group of promoters, including Mr. Purushottam Dass Goel, who serves as the Chairman and Managing Director. The list also includes several other promoters, and details regarding their shareholding are available in the 'Capital Structure' section starting on page 74. The document details the personal and professional profiles of several individuals within the promoter group.

The section introduces three individuals as Promoters of the Company: Mrs. Isha Goel, Mrs. Nirmala Goel, and Mrs. Suman Goel, detailing their personal information, including age, date of birth, address, permanent account numbers, education, and professional experience. The text also lists numerous individuals who are identified as promoters, including Mr. Purushottam Dass Goel, Mr. Arun Kumar Goel, and others, noting that some former promoters have ceased to be promoters due to requests for name removal following the cessation of directorship and share transfers. Furthermore, the text outlines various provisions regarding the interest of promoters, related party transactions, and undertakings concerning the non-payment of amounts to promoters.

This section lists various individuals who are related to the promoters, including spouses, brothers, and sisters, across different family lines. It also details a list of entities that form part of the Promoter Group based on shareholding criteria, including various proprietorships and LLPs. Furthermore, the document outlines the criteria for identifying 'group companies' and clarifies that the company currently has no group companies as defined by the regulations. Finally, it discusses the company's dividend policy, stating that dividend payments depend on various factors and that the company has not declared or paid dividends in the preceding three financial years.

This section details the Independent Auditor Examination Report on restated financial information for Goel Construction Company Limited, covering financial statements for the years ended March 31, 2025, 2024, and 2023. The report confirms that the financial information was prepared in accordance with various regulations, including the Companies Act, ICDR Regulations, and ICAI Guidance Notes. The examination relied on audit reports from the company's predecessor auditors, and the management prepared the information based on audited financial statements. The report concludes that the restated financial information incorporates necessary adjustments and complies with the relevant legal and regulatory frameworks.

This section provides details regarding the financial statements and the individuals associated with the company, Goel Construction Company Limited. It includes a cash flow statement summary, details about the auditors, and information on the ownership structure of the company. The financial information was prepared for inclusion in the Red Herring Prospectus and approved by the directors for an Initial Public Offering (IPO).

The provided text details various financial balances, including reserves, borrowings, provisions, and assets/liabilities, but it does not explicitly identify individual promoters, their shareholding percentages, or any specific adverse regulatory actions against them. The data focuses on balance sheet movements and loan details.

This section details various financial and operational aspects of the company, including investments, receivables, inventories, cash flows, and expenses over several fiscal years. Key financial data includes investments in mutual funds and equity shares of other companies, as well as various trade receivables and inventory movements. The data also covers cash and bank balances, various loans, revenue from operations, and detailed breakdowns of costs, employee benefits, finance costs, and other operating expenses.

This section details various financial and operational data, including expenses, profit figures, and earning per share calculations for the company. It also outlines contingent liabilities, such as counter guarantees and GST-related matters, and provides information on related party transactions. The data includes details on various directors, their associated entities, and the nature of transactions conducted with related parties during the financial years ending March 31, 2025, 2024, and 2023.

The provided section details various transactions with related parties during the year ended March 31, 2023, listing numerous individuals and entities involved. The section also includes disclosures regarding employee benefits, such as Provident Fund and ESIC contributions, and various analytical ratios. Furthermore, it contains numerous compliance notes related to the company's financial reporting, such as the absence of certain property holdings, transactions with struck-off companies, and details on Corporate Social Responsibility (CSR) spending.

This section details various financial and accounting ratios, including profit after tax, earnings before interest, tax, and depreciation, as well as metrics related to the company's net worth and asset structure. It also provides information on the company's borrowings, specifically listing details of secured loans from HDFC BANK, including the amount outstanding, sanction dates, disbursement dates, interest rates, and prepayment conditions.

This section primarily details various loan agreements, mainly term loans from HDFC Bank, concerning the purchase of CEMID equipment and vehicle loans. The details cover different loan amounts, dates, and specific penalty structures for premature full payment, which vary depending on the time elapsed since the first EMI. Several agreements are scheduled to mature in 2026, while others have maturity dates extending to 2027. Additionally, there is mention of a term loan from Axis Bank Limited for CEMID equipment, which involves foreclosure and part prepayment charges.

This section details various financial arrangements, primarily revolving around term loans and equipment purchases from Axis Bank Limited and HDFC Bank. Several clauses specify foreclosure charges, such as 5% of the principal plus GST, for certain facilities. HDFC Bank term loans for vehicle purchases have provisions for premature full payment penalties, with charges varying based on the time elapsed since the first EMI, ranging from 2% to 5% on the principal outstanding. Furthermore, there are specific provisions for part prepayment penalties for some of these loans.

This section details various terms related to premature part or full payment on HDFC Bank Term Loans for the purchase of CEMID equipment. The terms vary based on the time frame: for premature payment within 12 months from the first EMI, the interest rate is 4% on the principal outstanding, while for payments exceeding 12 months from the first EMI, the rate is 2% on the principal outstanding. The text lists several instances where these payment terms were applied, with different loan amounts and maturity dates.

This section details various term loans and credit facilities availed by the company from HDFC Bank, primarily concerning the purchase of CEMID equipment. The records show different loan amounts, dates, and maturity periods, with various stipulations regarding premature full payment. Several entries relate to different loan tenures and repayment terms, and there is also a mention of a Bank of Baroda Overdraft facility. The total utilized loans are also disclosed.

The section details various unsecured loans extended to the company by different directors and others, with the total outstanding amount being ₹69.43 Lakhs as of July 31, 2025. The loans are categorized into 'Loans and Advances from Directors' and 'Loans and Advances from Others,' listing specific amounts for Purushottam Dass Goel, Arun Kumar Goel, Soni Goel, and several others. The text also confirms that the company has not defaulted on any loan installments or interest payments in the past three financial years.

This section details various financial performance metrics, including revenue, income, expenses, and profit figures across different financial years. Revenue from Construction Works showed a significant increase, while Other operating revenue decreased. Total expenses rose, driven by increases in material costs, employee benefits, and other operational costs. Profit before tax and after tax also showed substantial growth, with corresponding increases in tax expenses. The section also provides cash flow summaries from operating, investing, and financing activities, along with details on financial indebtedness and potential events of default from lenders.

The provided text details various financial and regulatory matters, including counter guarantees, GST issues, TDS demands, and labour disputes, with various resolutions or pending replies from the GST department. It also mentions that the company has faced penalties that have been quashed by the courts. Furthermore, the text discusses aspects related to the dependence on suppliers and customers, showing significant reliance on a small number of key entities for both purchases and revenue.