Kalpataru IPO vs Globe Civil Projects IPO vs Ellenbarrie IPO: Allotments Done, Who Will Lead on Listing Day?

As the allotment is now finalised for three big mainline IPOs, Kalpataru Projects International, Globe Civil Projects, and Ellenbarrie Industrial Gases, investors are turning their focus to potential listing gains. Here's a comparison of all three issues, based on subscription data, grey market premium (GMP), financials, and market sentiment.

Globe Civil Projects IPO Saw Strong GMP with High Retail Buzz

Globe Civil Projects, a construction and civil engineering firm, also closed its IPO subscription window on June 27 with moderate enthusiasm from retail investors. The IPO was subscribed over 53 times in the retail segment and 80.97 times overall. As per market sources, the GMP for the Globe Civil Projects IPO is hovering around Rs 23, hinting at a 32% gain upon listing on the NSE/BSE on July 1.

Kalpataru Projects International IPO Oversubscribed

The IPO of Kalpataru Projects International Ltd, which closed recently, saw decent demand across investor categories. The company is known for its infrastructure EPC (engineering, procurement, and construction) work and raised funds to support working capital and expansion needs.

According to recent data, the Kalpataru IPO was oversubscribed by over 231 overall and 143 times in the retail category. As per investor gain data, the current GMP is currently around Rs. 3, which is moderate compared to Globe Civil Projects.

Kalpataru has a solid order book and a consistent revenue track record, which could drive positive sentiment when the stock lists on the exchange on July 1st. Kalpataru, being a mainboard IPO, is worth Rs 1590 crore.

Ellenbarrie Industrial Gases IPO with Strong GMP Signals

The Rs. 852 crore IPO of Ellenbarrie Industrial Gases Ltd also garnered huge investor interest during its bidding period from June 24 to 26. A provider of industrial gases like oxygen, nitrogen, and argon to various sectors, the company saw its IPO oversubscribed in all categories. As of the last day of bidding, Ellenbarrie Industrial Gases IPO was subscribed to 22.19 times overall and 2.14 times in the retail category, 64.23 times in QIB, and 15.21 times in the NII category.

The GMP for the Ellenbarrie IPO as of 11:30 am today, according to investor gain data, stood around Rs. 43, with an expected listing price of Rs. 443 per share.

With consistent EBITDA margins and long-standing industrial clients, Ellenbarrie may surprise on listing day, especially when the demand is high for chemical and industrial input companies.

Which IPO Will Deliver the Biggest Listing Gains?

Based on current GMP trends and subscription numbers, Kalpataru and Ellenbarrie IPOs are expected for better listing performance. Kalpataru benefits from a high brand recall and strong project pipeline. Globe Civil, though popular among retail investors, may deliver steadier, if not explosive, listing gains.

Brokerage Ratings Comparison

Globe Civil Projects IPO: Out of the four broking firms that reviewed the IPO, one has given an 'Apply' rating, while the others remain neutral.

Kalpataru Projects IPO: Choice Equity Broking Pvt Ltd is the only brokerage firm among ten that has issued an 'Apply' rating. The remaining nine have either maintained a neutral stance or given a 'May Apply' recommendation, showing mixed sentiment despite the company's strong fundamentals.

Ellenbarrie Industrial Gases IPO: This IPO has received a more favourable response from the market. Six out of 12 brokerage firms have issued a clear 'Apply' rating, including names like Ventura Securities, SBI Capital, and Canara Bank Securities.

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