Kalpataru, Globe Civil Projects, Ellenbarrie among six IPOs open for subscription; check list and key details

The mainboard initial public offerings of Kalpataru Ltd, Globe Civil Projects Ltd, and Ellenbarrie Industrial Gases Ltd opened for subscription on Tuesday, June 24. The SME issues of Shri Hare-Krishna Sponge Iron, Icon Facilitators, and Abram Food also hit the primary market.

Their allotment statuses will be finalised on June 27, while listing would tentatively take place on July 1.

Kalpataru IPO

Real estate developer Kalpataru's initial share sale is a fresh capital raise of ₹1,590 crore. There is no offer for sale component. The price band has been set at ₹387 to ₹414 per share, and a lot consists of 36 shares.

The capital raised is intended to be used for debt repayment and corporate general purposes.

On Monday, the company raised ₹708 crore from nine anchor investors, including GIC, Bain Capital, SBI Mutual Fund (MF), 360 ONE Group, Aditya Birla Sun Life Insurance, ICICI Prudential MF, SBI General Insurance, Ayushmat Ltd, and Taurus MF.

Mumbai-based Kalpataru develops residential, commercial, retail and integrated township projects. It is also engaged in the redevelopment of societies.

Ellenbarrie Industrial Gases IPO

The minimum application size is 37 shares and in multiples thereafter.

The objects of the issue include payment of debt, establishing an air separation facility at the company's Uluberia-II plant in West Bengal, and general corporate purposes.

The company on Monday mobilised ₹256 crore from anchor investors such as HDFC Mutual Fund (MF), Bandhan MF, Axis MF, Tata MF, Nippon India MF, Motilal Oswal MF, HDFC Life Insurance, ICICI Lombard General Insurance, Citigroup Global Markets Mauritius, Copthall Mauritius Investment, and Eastspring Investments, among others.

The firm manufactures and supplies industrial gases, synthetic air, medical oxygen, dry ice, fire-fighting gases, liquid petroleum gas, speciality gases, and welding mixtures.

Globe Civil Projects IPO

The money generated will be used for working capital needs, capital expenditure to buy construction equipment, and general corporate purposes.

Before the IPO, the company had collected ₹35.7 crore from six anchor investors, including Chanakya Opportunities Fund, Lords Multigrowth Fund, Steptrade Revolution Fund, and Compact Structure Fund.

Globe Civil Projects is an integrated engineering, procurement and construction company. It specialises in domestic infrastructure projects.