IPO Updates: HDB Financial Services, Kalpataru Fully Subscribed; Indogulf Nearly Halfway Bid On Day One

We come to an end of today's coverage of all things IPO. See you on the flip side!

The Globe Civil Projects IPO was subscribed 86.04 times as of 5:15 p.m. on Thursday.

• Qualified Institutions: 99.76.

• Non-Institutional Buyers: 143.14 times.

• Retail Investors: 53.72 times.

Kalpataru Ltd.'s IPO was subscribed 2.26 times on Thursday.

• Qualified Institutions: 3.12 times.

• Non-Institutional Buyers: 1.31 times.

• Retail Investors: 1.29 times.

• Portion reserved for employees: 0.70 times.

The Ellenbarrie Industrial Gases IPO was subscribed 22.19 times as of 07:00 p.m.

• Qualified Institutions: 64.23 times.

• Non-Institutional Buyers: 15.21 times.

• Retail Investors: 2.14 times

The issue has been subscribed 0.40 times or 40% as of 5:00 p.m.

• Qualified Institutions: 0.05 or 4%.

• Non-Institutional Buyers: 0.27 or 27%.

• Retail Investors: 0.69 times or 69%.

• Portion reserved for employees: 0.05 or 5%.

The HDB Financial Services IPO was subscribed 1.16 times on Thursday.

• Qualified Institutions: 0.90 times or 90%

• Non-Institutional Buyers: 2.29 times

• Retail Investors: 0.64 times or 64%.

• Portion reserved for employees: 2.97 times

• Reservation portion for shareholders: 1.69 times

Sambhv Steel Tubes IPO has been subscribed 1.76 times on Thursday.

• Qualified Institutions: 0.61 times of 61%.

• Non-Institutional Buyers: 3.12 times.

• Retail Investors: 1.84 times.

• Portion reserved for employees: 1.52 times.

The Grey Market Premium for Ellenbarrie Industrial Gases is at Rs 27.5 as of 3:54 p.m. on Thursday, as per InvestorGain. The estimated listing price is Rs 427.5, implying a 6.88% premium over the upper end of the price band.

GMP or grey market price is not an official indicator and is based on market speculation.

Bajaj Broking recommends subscribing to the offer for a long-term hold. The Indogulf IPO has been subscribed 36% as of 04:18 p.m. on Thursday.

The HDB Financial Services IPO has been fully subscribed as of 04:00 p.m.

• Qualified Institutions: 0.90 times or 90%

• Non-Institutional Buyers: 2.06 times

• Retail Investors: 0.61 times or 61%.

• Portion reserved for employees: 2.78 times

• Reservation portion for shareholders: 1.52 times

"We maintain a 'Subscribe' view on Kalpataru, driven by its competitive valuation vis-à-vis peers, robust presence in the ERW steel pipes and tubes segment, and improving financial profile," said Gaurav Garg of Lemonn Markets Desk.

The company's strategic land deals, improving financials, and strong brand presence in the MMR real estate market contribute to the analyst's positivity, but they advice cautioning on aggressive pricing.

Kalpataru Ltd.'s IPO was subscribed 2.20 times on Wednesday.

• Qualified Institutions: 3.04 times.

• Non-Institutional Buyers: 1.28 times.

• Retail Investors: 1.21 times.

• Portion reserved for employees: 0.67 times or 67%.

Retail investors have subscribed to 53% of the Indogulf mainboard offering, while non-institutional investors came second with 19% subscription as of 02:54 p.m. The IPO has been subscribed 31% so far on day one.

HDB Financial Services IPO is closing in on full subscription and has been subscribed 0.82 times or 82% as of 2:33 p.m.

• Qualified Institutions: 0.22 times or 22%

• Non-Institutional Buyers: 1.79 times

• Retail Investors: 0.56 times or 56%.

• Portion reserved for employees: 2.62 times

• Reservation portion for shareholders: 1.40 times

The Grey Market Premium for Globe Civil Projects increased to Rs 17 from Rs 15 as of 1:02 p.m. on Thursday, as per InvestorGain. The estimated listing price is Rs 88, implying a 23.94% premium over the upper end of the price band.

GMP or grey market price is not an official indicator and is based on market speculation.

The initial public offering of Sambhv Steel Tubes has been subscribed 1.17 times as of 1:18 p.m. on Thursday. The IPO saw major action from NIIS (subscribed 1.78 times) and RIIS (1.24 times).

The issue has been subscribed 2.08 times as of 12:33 p.m. after QIBs poured in on the last day of bidding.

The Non Institutional Investors portion for HDB Financial IPO has been subscribed 1.38 times as of 12:30 p.m.

Kalpataru Ltd.'s IPO was subscribed 0.79 times or 35% on Wednesday.

• Qualified Institutions: 0.84 times or 84%

• Non-Institutional Buyers: 0.62 times or 62%.

• Retail Investors: 0.94 times or 94%.

• Portion reserved for employees: 0.52 times or 52%

The grey market premium of the HDB Financial Service IPO is Rs 51.5 as of 10:58 a.m. on Thursday, according to InvestorGain. This implies shares of the company will likely list at Rs 791.5 apiece, indicating a 6.96% premium to the upper end of the price band.

The issue has been subscribed 0.08 times or 8% as of 10:51 a.m.

• Qualified Institutions: nil.

• Non-Institutional Buyers: 0.03

• Retail Investors: 0.15 times or 15%.

• Portion reserved for employees: nil.

Indogulf Cropsciences Ltd. public offering is worth Rs 200 crore. The company has set a price band at Rs 105 to Rs 111 per share for the IPO. The IPO includes an offer-for-sale component, through which two existing shareholders of the company would offload equity shares to raise Rs 40 crore.

Incorporated in 1993, Indogulf Cropsciences is engaged in manufacturing crop protection products, plant nutrients, and biologicals in India.

The HDB Financial Services IPO has been subscribed 0.44 times on Thursday.

• Qualified Institutions: 0.01 times or 1%.

• Non-Institutional Buyers: 0.90 times or 90%.

• Retail Investors: 0.35 times or 35%.

• Portion reserved for employees: 1.93 times.

• Reservation portion for shareholders: 0.83 times or 83%.

"The Rs 12,500 crore HDB Financial Services IPO marks a pivotal moment for India's NBFC sector – not just as the largest NBFC debut to date, but as a test case for how public markets value diversified lenders in an era of tightening regulations and evolving credit demand," said Tarun Singh, MD and Founder, Highbrow Securities.

Welcome to our IPO live blog!

The primary markets are buzzing again with six new mainboard offerings today. The street will see Indogulf Cropsciences Ltd. IPO opening today.

HDB Financial Services Ltd. and Sambhv Steel Tubes Ltd. will have their second day of bidding, while Globe Civil Projects Ltd., Kalpataru Ltd. and Ellenbarrie Industrial Gases Ltd. will open for bidding for the last day.