Kalpataru vs Ellenbarrie vs Globe Civil Projects IPOs Open Today: GMP, Issue Size & Which One To Apply?

Three mainboard IPOs, Kalpataru Projects International, Ellenbarrie Industrial Gases, and Globe Civil Projects, have opened for subscription today, June 24. Each of these public issues comes from a different sector: real estate and infrastructure, industrial gases, and civil construction, respectively. Retail and institutional investors are keenly analysing their fundamentals, grey market premium (GMP), and listing potential. If you're wondering which IPO to apply for, here's a detailed comparison based on issue size, price band, lot size, and market buzz.

Kalpataru Projects International IPO Details

The Kalpataru IPO is a Rs. 1,590 crore book-built issue comprising an entirely fresh issue of 3.84 crore shares. The IPO subscription window will be open from June 24 to June 26. The price band for this IPO is Rs. 387 to Rs. 411, with allotment expected on June 27 and listing tentatively set for July 1 on both BSE and NSE.

Ellenbarrie Industrial Gases IPO Details

The Ellenbarrie IPO is an Rs. 852.53 crore issue, comprising a fresh issue of Rs. 400 crore and an offer for sale of Rs. Rs.452.53 crore. This IPO also opens from June 24 to June 26, with allotment and listing on the same dates as Kalpataru.

The price band for this IPO is Rs. 380 to Rs. 400 per share. The Ellenbarrie IPO GMP today is around ₹7-₹8, showing moderate investor appetite. Analysts are optimistic about its long-term business visibility but advise caution due to the OFS component.

Globe Civil Projects IPO Details

Among the three, Globe Civil Projects IPO is the smallest in size at Rs. 119 crore, consisting of a 100% fresh issue of 1.68 crore shares. It shares the same bidding and listing timeline as the other two IPOs. The Price Band: Rs. 67 to Rs. 71 per share.

Despite its smaller size, Globe Civil Projects IPO GMP today stands strong at around Rs.115, indicating a 21% premium in the grey market.

Which IPO Should You Apply For?

If you're a retail investor wondering which IPO to apply for today, here's a quick analyst review:

Kalpataru IPO: Broking reviews on the Kalpataru IPO are largely mixed. While Capital Market has rated it as "May Apply", citing a drop in consolidated revenue for the fiscal year ending March 2024, which was down 47% to Rs 1929.98 crore, and at the operating level, it was a loss of Rs 128.42 crore. Meanwhile firms like SBI Capital Securities, Canara Bank Securities, and KR Choksey have taken a neutral stance, citing valuation and sectoral challenges.

Ellenbarrie IPO: Balanced fundamentals with a decent GMP; suitable for those comfortable with moderate risk. SBI Capital Securities, in its note, said, "At the upper price band of Rs 400, the stock is likely to trade at 67.7x FY25 EPS post-issue, which is at a discount to peer Linde India. We recommend investors to "SUBSCRIBE" to the issue at the cut-off price."

Globe Civil Projects IPO: High GMP, smaller issue size, and strong retail buzz make it the most attractive for listing gains. The Globe Civil Projects IPO has received mixed reviews from market analysts and broking houses, reflecting cautious optimism. Canara Bank Securities and Capital Market have both issued a 'Neutral' rating, suggesting that investors should evaluate the fundamentals and valuations carefully before applying. On the other hand, Ventura Securities, however, stands out with a firm 'Subscribe' recommendation, pointing to strong financials, sector tailwinds, and promising listing-day prospects.

Disclaimer: The information provided in this article is for general informational purposes only and does not constitute financial, investment, or credit advice. The views and recommendations mentioned are based on publicly available data and expert opinions at the time of writing. Neither the author nor GoodReturns endorses any specific product or financial decision. GoodReturns.in and its affiliates are not responsible for any loss or damage resulting from reliance on the information presented.