Upcoming IPOs this week: HDB Financial, Kalpataru, Globe Civil Projects, Ellenbarrie among 17 issues to open; check full list

Upcoming IPOs this week: The primary market is set for a blockbuster time, with 6 mainboard initial public offerings launching in the week starting June 23. Eleven SME issues will also open for subscription.

The key initial share sales include Globe Civil Projects, Ellenbarrie Industrial Gases, Kalpataru, Sambhv Steel Tubes, HDB Financial Services, and Indogulf Cropsciences.

Globe Civil Projects IPO

The net proceeds will be used for working capital needs, capital expenditure needs to buy equipment, and corporate general purposes.

Globe Civil Projects, incorporated in 2002, is an integrated engineering, procurement, and construction (EPC) firm headquartered in New Delhi.

Ellenbarrie Industrial Gases IPO

Ellenbarrie Industrial Gases, which manufactures and supplies industrial gases, dry ice and medical oxygen, will launch its ₹852.53 crore initial share sale on June 24 and conclude on June 26. It has fixed a price band of ₹380 to ₹400 per share. The application size is 37 shares.

The IPO consists of new equity shares worth ₹400 crore and an offer for sale (OFS) component valued at ₹452.53 crore. The capital raised will be used for payment of debt, setup of an air separation unit in West Bengal and general corporate purposes.

Kalpataru IPO

The issue is only a fresh issuance of 3.84 crore equity shares. Retail investors can apply for a minimum of 36 shares, requiring an investment of ₹14,904 at the upper end of the price band.

The Mumbai-based firm will use money generated for debt payment as well as general corporate purposes.

Sambhv Steel Tubes IPO

The ₹540 crore initial public offering of Sambhv Steel Tubes, with a price range of ₹77 to 82 per share, will open on June 25 and end on June 27. A lot includes 182 shares.

It is a mix of new shares worth ₹440 crore and an OFS worth ₹100 crore by promoters. The capital raised will be utilised for repayment of pending dues and general corporate purposes.

Sambhv Steel Tubes is among the key manufacturers of electric resistance welded steel pipes and structural tubes in India.

HDB Financial Services IPO

It includes a ₹2,500-crore fresh capital raise and ₹10,000 crore OFS from its parent, HDFC Bank. The total IPO size is ₹12,500 crore.

Fresh issue proceeds will be utilised to strengthen its Tier-I capital base.

A retail investor can apply for at least 20 shares and in multiples thereafter.

HDB Financial Services is an upper-layer non-banking financial company.

Indogulf Cropsciences IPO

The initial share sale of Indogulf Cropsciences will hit the Dalal Street on June 26. It will close on June 30.

The issue consists of a fresh issuance of ₹160 crore and an OFS of 0.36 crore shares. The price band will be declared soon.

The objects of the issue include working capital requirements, debt clearance, capital expenditure for establishing an in-house dry flowable plant in Haryana, and general corporate purposes.

SME IPOs opening this week; check list