Strong demand for Ellenbarrie, Global Civil; Kalpataru sees 2.3x bids

Kalpataru IPO sees modest interest; Ellenbarrie and Global Civil Projects attract overwhelming demand from institutional and HNI segments on final day

The initial public offering (IPO) of Kalpataru was subscribed 2.3 times, while that of  Ellenbarrie Industrial Gases and Globe Civil Projects was subscribed 22.2 and 86.04 times on the concluding day of their issues. 

Real estate developer Kalpataru’s IPO was subscribed 3.1 times by institutional investors, 1.3 times by high-net-worth individuals (HNI), and 1.3 times by retail investors.  

The portion reserved for employees subscribed 70 per cent. The company had priced its IPO between ₹387 and ₹414 per share. The ₹1,590 crore IPO is a fresh issue.   

Meanwhile, the issue of Ellenbarrie Industrial Gases was subscribed to 64.2 times by institutional investors, 15.2 times by HNIs, and 2.1 times by retail investors. The ₹119 crore IPO of engineering, procurement and construction firm Global Civil Projects was subscribed 99.7 times by institutional investors, 143 times by HNIs and 53.7 times by retail investors. The IPO was a fresh issue, and the company plans to use the proceeds to fund the working capital requirements of the firm. 

HDB Financial booked 1.2 times on second day 

HDB Financial Services’ IPO was subscribed 1.2 times on second day. The institutional investors subscribed 90 per cent, the high net-worth individual portion of the issue was subscribed  2.3 times, and the retail investor portion was booked 64 per cent.   The part reserved for staff was subscribed close to 3 times, and the one reserved for shareholders was subscribed 1.7 times.