IPO Subscription Updates: Globe Civil, Kalpataru, and Ellenbarrie close for subscription today

Three initial public offerings (IPOs) — Globe Civil Projects, Kalpataru, and Ellenbarrie Industrial Gases — which opened for subscription on June 24, are set to close for bidding today, Thursday, June 26.

Of the three, Globe Civil Projects has seen robust investor interest and is already oversubscribed, while Kalpataru and Ellenbarrie Industrial Gases are nearing the halfway mark in terms of subscription.

The ₹119-crore IPO of New Delhi-based EPC firm Globe Civil Projects continued to attract strong demand on its third and final day. As of Day 3, the issue was subscribed 18.12 times, receiving bids for 21.26 crore shares against the offer size of 1.17 crore shares, as per NSE data.

The non-institutional investor (NII) portion was subscribed 28.41 times, the retail investor category saw a subscription of 19.41 times, while the qualified institutional buyers (QIB) segment was subscribed 8.16 times.

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In contrast, the IPO of Kalpataru Projects received bids for 85.65 lakh shares against the offer size of 2.28 crore shares so far. The retail portion was subscribed 0.79 times, NIIs 0.50 times, and QIBs just 0.17 times.

Meanwhile, the IPO of Ellenbarrie Industrial Gases was subscribed 55% as of 10:15 am on the final day. The issue received bids for 82.38 lakh shares against the total offer size of 1.51 crore shares. Retail investor participation stood at 42%, NII at 81%, and QIBs at 0.57 times.

In the grey market, shares of Globe Civil Projects, Kalpataru, and Ellenbarrie Industrial Gases were commanding a premium of ₹15, ₹3, and ₹19, respectively, on Day 3.

Many investors use grey market premiums (GMP) as an informal indicator of potential listing performance.