# Goel Construction Company Limited: IPO analysis > Goel Construction Company Limited (CIN U45201RJ1997PLC013937) has filed a Prospectus with SEBI for an IPO comprising a fresh issue of 30,84,400 shares and an offer for sale of 7.24 lakh shares, priced at ₹250.00 to ₹263.00 per share. In FY25 it reported revenue of ₹590 Cr (+52.8% on FY24) and a net profit of ₹38 Cr. Promoters hold 97.3% before the IPO. Our fact-check of its claims found no medium or high concerns across 38 claims checked. - Page: https://ipo.innerkore.com/company/U45201RJ1997PLC013937/goel-construction-company-limited/ - CIN: U45201RJ1997PLC013937 - Last updated: 10 Jun 2026 ## Key facts - **Company:** Goel Construction Company Limited - **CIN:** U45201RJ1997PLC013937 - **Filing stage:** Prospectus - **Latest SEBI filing:** 10 Jun 2026 - **Offer for sale:** 7,23,600 shares - **Price band:** ₹250.00 to ₹263.00 per share - **Final offer price:** ₹263.00 per share - **Bidding opens:** 2 Sep 2025 - **Bidding closes:** 4 Sep 2025 - **Listing on:** BSE - **Revenue FY25:** ₹590 Cr - **Revenue growth:** +52.8% - **Net profit FY25:** ₹38 Cr - **Revenue CAGR FY23 to FY25:** 47.6% - **Promoter holding (pre-IPO):** 97.3% - **Lead managers:** Srujan Alpha Capital Advisors LLP - **Registrar:** MUFG Intime India Private Limited - **Fact-check flags:** 0 high, 0 medium, 0 low ## Key signals (read from the filing; not investment advice) - **Valuation** (looks fine): 12x P/E. At the top of the band, on FY25 profit; 1.3x book value. - **Growth** (looks fine): 47.6% a year. Sales FY23 to FY25; latest year +52.8%. - **Profitability** (look closer): 6.5% net margin. FY25; operating margin steady. - **Debt** (looks fine): 0.08x equity. ₹28.7 crore borrowed at the end of FY25. - **Profit into cash** (looks fine): 100% of profit. Operations brought in ₹38.4 crore against ₹38.3 crore of profit in FY25. - **One-off income** (looks fine): 8% of profit. Other and one-off income is 8% of pre-tax profit. - **Where the money goes** (looks fine): 19% for sale. 81% is new shares issued by the company. 31% of the new money repays debt. - **Red flags** (looks fine): None serious. 38 claims checked: 0 high, 0 medium concern. ## Financial snapshot (₹ crore unless stated; consolidated) | | FY23 | FY24 | FY25 | |---|---:|---:|---:| | Sales | 271 | 386 | 590 | | Sales growth | – | 42.6% | 52.8% | | Operating profit | 23 | 36 | 58 | | Operating margin | 8.7% | 9.4% | 9.8% | | Net profit | 14 | 23 | 38 | | Net margin | 5.3% | 5.9% | 6.5% | | Net worth | 251 | 282 | 343 | | Borrowings | 29 | 31 | 29 | | Return on equity | 5.7% | 8.0% | 11.2% | ## Use of proceeds (fresh issue) - Capital expenditure towards purchase of additional equipments and fleets: ₹42 crore - Repayment / prepayment of certain outstanding borrowings availed by our Company: ₹23 crore - General corporate purposes*: ₹9.7 crore ## Fact-checked claims - **NONE** (PromoterBackground): Mr. Satish Goel was re-appointed as Whole-Time Director for a further period of 3 years starting April 01, 2024.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that Mr. Satish Goel was re-appointed as Whole-Time Director for a further period of 3 years starting April 01, 2024. - **NONE** (PromoterBackground): Mr. Arun Kumar Goel was re-appointed as Whole-Time Director for a further period of 5 years starting April 01, 2024.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that Mr. Arun Kumar Goel was re-appointed as Whole-Time Director for a further period of 5 years starting April 01, 2024. - **NONE** (PromoterBackground): Mr. Purushottam Dass Goel was re-appointed as Whole-Time Director for a further period of 3 years starting April 01, 2024.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that Mr. Purushottam Dass Goel was re-appointed as Whole-Time Director for a further period of 3 years starting April 01, 2024. - **NONE** (PromoterBackground): Mr. Vijay Kumar Goel was appointed to the Board of Directors on July 01, 2023 and later re-appointed as Whole-Time Director.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about Mr. Vijay Kumar Goel's appointment and re-appointment as a Director for Goel Construction Company Limited. - **NONE** (PromoterBackground): Mrs. Soni Goel was employed as Procurement Manager and received a salary of ₹20.00 lakhs during FY 2024-25, but no remuneration was paid to her as a Director during that financial year.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about Mrs. Soni Goel's salary or director remuneration. - **NONE** (SubsidiaryPerformance): The Company executed multiple industrial and infrastructure projects between 2010 and 2018.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that the company executed multiple industrial and infrastructure projects between 2010 and 2018. - **NONE** (SubsidiaryPerformance): The Authorized Capital was increased from ₹ 40,0/- to ₹ 2,00,0/- divided into 20,0 Equity Shares of ₹ 10/- each on September 30, 2017.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about the increase in Authorized Capital for Goel Construction Company Limited. - **NONE** (SubsidiaryPerformance): The Authorized Share Capital was increased from ₹ 2,00,0/- to ₹ 20,00,0/- divided into 2,0 Equity Shares of ₹ 10/- each on August 14, 2024.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about the increase in authorized share capital for Goel Construction Company Limited. - **NONE** (SubsidiaryPerformance): The Name Clause of the Memorandum of Association was amended on November 26, 2024, to reflect the change in the company's name.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that the Name Clause of the Memorandum of Association of Goel Construction Company Limited was amended on November 26, 2024. - **NONE** (SubsidiaryPerformance): The registered office location was changed from 230, City Centre, S. C. Road, Jaipur, Rajasthan, India 302001 to 8, Vashisth Marg, Gom Defence, Vaishali Nagar, Jaipur, Rajasthan, India 302021 for administrative convenience on July 30, 2025.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claimed change in the registered office location for Goel Construction Company Limited. - **NONE** (SubsidiaryPerformance): A fresh certificate of incorporation was issued by the Registrar of Companies, Jaipur on December 20, 2024.. No web search results were found to corroborate, contradict, or provide any information regarding the issuance of a fresh certificate of incorporation by the Registrar of Companies, Jaipur on December 20, 2024. - **NONE** (SubsidiaryPerformance): The growth rate for GFCF improved in Q1 FY 2025 by growing at 6.65% against 6.05% in the previous quarter.. No current web search results were found to corroborate, contradict, or provide any information regarding the stated growth rate improvement for GFCF in Q1 FY 2025. ## Common questions ### How big is the Goel Construction Company Limited IPO? Goel Construction Company Limited's IPO comprises a fresh issue of 30,84,400 shares and an offer for sale of 7.24 lakh shares, according to its Prospectus. The price band was ₹250.00 to ₹263.00 per share and the final offer price was ₹263.00 per share. ### What are Goel Construction Company Limited's revenue and profit? Goel Construction Company Limited reported revenue from operations of ₹590 Cr in FY25, +52.8% versus FY24. Net profit was ₹38 Cr (FY24: ₹23 Cr). Revenue grew at a compound rate of 47.6% a year from FY23 to FY25. Figures are read from the Prospectus, as printed there. ### How much do promoters own in Goel Construction Company Limited? Promoters and the promoter group hold 97.3% of Goel Construction Company Limited before the IPO. ### How will Goel Construction Company Limited use the IPO money? The fresh-issue proceeds are earmarked for: Capital expenditure towards purchase of additional equipments and fleets (₹42 Cr); Repayment / prepayment of certain outstanding borrowings availed by our Company (₹23 Cr); General corporate purposes (₹9.7 Cr). The offer-for-sale portion goes to the selling shareholders, not the company. ### What are the red flags in Goel Construction Company Limited's Prospectus? We fact-checked 38 claims from the filing against the open web: 0 raised a high concern, 0 medium and 0 low. This is an automated screen, not a verdict; each finding links to its sources. ### What does Goel Construction Company Limited do? Forget the hype: there is zero verifiable record confirming that Mr. Satish Goel was re-appointed as Whole-Time Director for another three years starting in April 2024. This silence surrounding a key directorial appointment raises serious questions about the governance and transparency surrounding the recent IPO of… ### Who manages the Goel Construction Company Limited IPO? Book running lead managers: Srujan Alpha Capital Advisors LLP. Registrar to the offer: MUFG Intime India Private Limited. Shares are proposed to list on BSE. ### Where can I read the original Goel Construction Company Limited IPO documents? All 1 filing for Goel Construction Company Limited (Prospectus) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [Goel Construction Company Limited](https://www.sebi.gov.in/sebi_data/attachdocs/jun-2026/1781091011695_1271.pdf) (Prospectus, filed 10 Jun 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.