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Kalpataru, Globe Civil Projects and Ellenbarrie IPOs Open Days Before HDB Financial’s Rs 12,500 Crore Debut

Investor activity in three major offerings this week will be tracked ahead of allotment on June 27 followed by listing on July 1.

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Overview

  • Kalpataru’s all-fresh Rs 1,590 crore IPO opened on June 24 with a price band of Rs 387 to Rs 414 and closes on June 26.
  • Globe Civil Projects kicked off its Rs 119 crore fresh issue at Rs 67 to Rs 71 and commands a grey market premium implying over 20% upside.
  • Ellenbarrie Industrial Gases launched its Rs 852.5 crore combined offering at Rs 380 to Rs 400 to repay debt and fund a new air separation unit.
  • HDB Financial Services’ Rs 12,500 crore mega IPO opens June 25 with a Rs 700 to Rs 740 band, comprising a Rs 2,500 crore fresh issue and a Rs 10,000 crore offer-for-sale.
  • Grey market premiums suggest about 7% listing gains for HDB Financial and modest gains for Kalpataru, though large offer-for-sale components and steep valuations could temper returns.