We come to an end of day one's coverage of the ongoing mainboard IPOs. See you tomorrow, as we add HDB Financial Services and Sambhv Steel Tubes to the stack!
At the higher price range, Kalpataru is seeking an EV/Sales multiple of 9.3×, which still trades at a discount compared to peer averages of around 12.5×, says the brokerage.
"The company’s strong brand allows it to command a premium pricing strategy, reflecting solid pricing power. However, a high debt load introduces financial prudence concerns. Thus, we recommend a "subscribe for long term" rating for this issue," they added.
IPO Live Updates: Globe Civil Projects Leads Subscription Bids
As of 04:18 p.m., Globe Civil Projects was subscribed 6.49 times whereas its contemporaries Ellenbarrie Industrial Gases and Kalpataru were subscribed 0.07 times and 0.08 times respectively.
IPO Live Updates: Kalpataru "A High Conviction Bet"
"Kalpataru's IPO presents a high-conviction bet on brand strength in Mumbai real estate, supported by a sizable project pipeline and significant land bank," says Gaurav Garg, Lemonn Markets Desk.
The company's green development credentials and operational focus add merit to its long-term positioning, he adds.
IPO Live Updates: Globe Civil Projects Leading In Day 1 Subscription Race
As of 3:15 p.m., Globe Civil Projects was subscribed 5.72 times whereas its contemporaries Ellenbarrie Industrial Gases and Kalpataru were subscribed 0.06 times and 0.07 times respectively.
According to Investorgain, the grey market premium for the Kalpataru IPO increased marginally to Rs 9 as of 1:35 p.m. on June 24. This implies shares of the company will likely list at Rs 423 apiece, indicating a 2.17% premium to the upper end of the price band (Rs 414).
GMP or grey market price is not an official indicator and is based on market speculation.
Globe Civil Projects IPO Live Updates: IPO Sees Entry Of QIBs
Qualified Institutional Buyers entered the bidding arena for Globe Civil Projects IPO and nearly tripled the number of subscriptions. As per BSE Data the IPO has been subscribed 4.13 times as of 1:06 p.m.
Allotment of Globe Civil shares is proposed to be finalised on June 27. Successful bidders are expected to receive shares in their Demat accounts on June 30. Refunds will also be initiated for non-allottees on the same day.
The Initial Public Offering of Globe Civil Projects has been fully subscribed within two hours of opening on its first day of bidding. The last updated GMP for the offer is Rs 15 apiece as of 9:55 a.m. The latest GMP indicates the IPO listing at Rs 86 per share, at a premium of 21.13% against the upper limit of the price band.
As per Investorgain, the grey market premium (GMP) for the Globe Civil Projects IPO stood at Rs 15 apiece at 7:54 a.m. on June 24. The latest GMP indicates the IPO listing at Rs 86 per share, at a premium of 21.13% against the upper limit of the price band.
Note: GMP does not represent official data and is based on speculation.
IPO Live Updates: Ellenbarrie Industrial Gases GMP
As per Investorgain, the grey market premium (GMP) for the Ellenbarrie Industrial Gases IPO stood at Rs 7 apiece at 8:58 a.m. on June 24. The latest GMP indicates the IPO listing at Rs 407 per share, at a premium of 1.75% against the upper limit of the price band.
Note: GMP does not represent official data and is based on speculation.
As per Investorgain, the grey market premium (GMP) for the Kalpataru IPO stood at Rs 5 apiece at 8:28 a.m. on June 24. The latest GMP indicates the IPO listing at Rs 419 per share, at a premium of 1.21% against the upper limit of the price band.
Note: GMP does not represent official data and is based on speculation.
Globe Civil Projects Ltd.'s IPO's price band is set in the range of Rs 67 to Rs 71 per share. The company will issue 1.68 crore shares; all fresh issues with no offer-for-sale component.
The price band for the IPO is set at Rs 387 to Rs 414 per share. The proposed IPO is entirely a fresh issue worth up to Rs 1,590 crore, with no offer-for-sale component.
The primary market investors will witness an action-packed week starting with three mainboard IPOs scheduled to open for subscription today- Kalapataru Ltd., Ellenbarrie Industrial Gases Ltd., and Globe Civil Projects Ltd. The IPOs opening on June 24, will close on June 26.
