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Globe Projects IPO booked 4x; Kalpataru & Ellenbarrie  saw muted bids; check latest GMPs

Globe Projects IPO booked 4x; Kalpataru & Ellenbarrie  saw muted bids; check latest GMPs

Three mainboard IPOs- Kalpataru, Ellenbarrie Industrial Gases and Globe Civil Projects- are giving a major opportunity to investors to try their luck in the primary market.

Pawan Kumar Nahar
Pawan Kumar Nahar
  • Updated Jun 24, 2025 1:11 PM IST
Globe Projects IPO booked 4x; Kalpataru & Ellenbarrie  saw muted bids; check latest GMPsWhile the first two months of the current calendar witnessed 20 SME IPOs each, raising Rs 880 crore and Rs 930 crore, respectively.

Three mainboard IPOs- Kalpataru, Ellenbarrie Industrial Gases and Globe Civil Projects- are giving a major opportunity to investors to try their luck in the primary market. These issues opened on Tuesday, June 25 and shall conclude on Thursday, June 26. EPC player Globe Civil Projects saw a strong bidding on the first day, while other two were off-to a muted start on day one.

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Globe Civil Projects' issue was fully subscribed within one hour, thanks to strong bidding from all categories of investors as it was overall booked nearly 4 times as of 12.50 pm. As per data from BSE, the investors made bids for 4,65,38,793 equity shares compared to the 1,17,32,392 equity shares.

On an individual basis, the portion for qualified institutional bidders (QIBs) was booked 7 times, while allocations for non-institutional investors (NIIs) were subscribed 2.93 times. Allocations for retail investors saw bidding for 2.74 times as of the same time.

Globe Civil Projects is selling its shares in the price band of Rs 67-71 apiece. Investors can apply for a minimum of 211 shares and its multiples thereafter. It is looking to raise Rs 119 crore via IPO, which is entirely a fresh share sale of up to 1,67,60,560 equity shares.

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On the other hand, issues of Kalpataru and Ellenbarrie Industrial Gases were subscribed only 5 per cent and 4 per cent, respectively as of the given time. For Kalpataru, retail and NIIs portions were booked 19 per cent and 5 per cent respectively. Retail portion in Ellenbarrie IPO was booked 8 per cent, while NIIs allocation saw two per cent bids. QIB portions of both IPOs did not see any bids.

Kalpataru is eyeing to raise a total of Rs 1,590 crore via IPO, by selling its shares in the price band of Rs 387-414 apiece, with a lot size of 36 shares. The issue is entirely a fresh sale of 3,84,05,797 equity shares. Ellenbarrie Industrial Gases is offering its shares in the range of Rs 380-400, with a lot size of 37 shares, to raise Rs 852.53 crore. It includes a fresh share sale of Rs 400 crore and OFS of 452.53 crore.

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The strong response for Globe Civil Projects IPO is following its strong grey market premium (GMP), where it is currently exchanging hands at Rs 15 apiece, suggesting strong gains of 21 per cent to the investors. However, Kalpataru is commanding a GMP of Rs 5 apiece, while Ellenbarrie Industrial Gases is trading at Rs 7 apiece. Both issues are signaling 1-2 per cent gains for investors.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Jun 24, 2025 1:11 PM IST
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