Globe Civil Projects IPO vs Kalpataru IPO vs Ellenbarrie IPO: What GMP Signals Ahead Of Listing

Kalpataru, Globe Civil Projects and Ellenbarrie Industrial Gases are scheduled to make market debut on July 1, after the successful closure of their initial public offerings (IPOs). Shares of all three companies will be listed on the NSE and BSE.

All three mainboard issues were open for subscription from June 24 to June 26. Ahead of their listing, here’s a look at their grey market premiums (GMPs) for these IPOs.

The GMP for the Kalpataru IPO was nil as of 2:30 p.m. on June 30, according to InvestorGain. It indicates a flat listing for the IPO shares. 

Kalpataru IPO was a book-building issue of Rs 1,590 crore. It consisted of a fresh issue of 3.84 crore shares. The price band for the IPO was fixed between Rs 387 and Rs 414 per share. 

The IPO saw an overall subscription of 2.26 times. The company finalised the IPO allotment status on June 27.

The Globe Civil Projects IPO GMP stood at Rs 27 per share as of 1:55 p.m. on June 30, as per InvestorGain. The latest GMP indicates a listing price of Rs 98 apiece at a premium of 38.03% per share against the upper end of the price band. 

The IPO of Globe Civil Projects was a bookbuilding issue of Rs 119 crore. It comprised entirely of a fresh issue of 1.68 crore shares. The price band was set between Rs 67 and Rs 71 per share. 

The IPO saw an overall booking of 86 times during the three-day bidding period.

According to InvestorGain, the GMP for the Ellenbarrie Industrial Gases IPO was Rs 57 as of 2:55 p.m. on June 30. The GMP indicates an estimated listing price of Rs 457 per share at a premium of 14.25% apiece, compared to the upper limit of the price band.

The mainboard issue was worth Rs 852.53 crore. The IPO comprised a fresh issue of 1 crore shares worth Rs 400 crore and an offer-for-sale (OFS) of 1.13 crore shares worth Rs 452.53 crore.

The price band for the IPO was fixed at Rs 380 to Rs 400 per share. The IPO saw an overall subscription of 22.19 times.