Globe Projects IPO booked 50x so far, Kalpatru & Ellenbarrie fetch up to 11x bids; check latest GMPs

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Three mainboard IPOs- Kalpataru, Ellenbarrie Industrial Gases and Globe Civil Projects- opened for bidding on Tuesday, June 25, are giving an opportunity to investors to try their luck in the primary market. All three IPOs are running through their third and final day of the bidding. Globe Civil Projects continued to see a strong interest, while the other two managed to sail through today.

Globe Civil Projects, which was booked more than 57 times on day 3 as of 2.35 pm, on the back of a strong bidding from all-round bidding across all categories of investors. QIBs portion was booked 45.37 times, while allocations for NIIs and retail investors saw subscription for 110.59 times and 41.96 times, respectively.

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.

On the other hand, issues of Kalpataru and Ellenbarrie Industrial Gases was subscribed 2.04 times and 10.58 times, respectively as of the given time on day 3. For Kalpataru, NIIs and retail portions were booked 1.14 times and 1.01 times. Retail portion in Ellenbarrie IPO was booked 1.16 times, while NIIs allocation saw 8.64 times bids. QIB portions of both IPOs were subscribed 2.09 times and 29.42 times, respectively.

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.

The strong response for Globe Civil Projects IPO is following its strong grey market premium (GMP), where it is currently exchanging hands at Rs 17 apiece, suggesting strong gains of 24 per cent to the investors. However, Kalpataru's GMP has dropped to Rs 3 apiece, while Ellenbarrie Industrial Gases has seen a sharp rise to Rs 26 apiece, signaling 7 per cent gains for investors.