Ellenbarrie sets IPO price at ₹380-400; Arisinfra subscribed 1.3x on Day 2

Ellenbarrie sets IPO price at ₹380 -400 Ellenbarrie Industrial Gases has priced its initial public offering (IPO) between ₹380-400 per share. The IPO will open on Tuesday and close on Thursday. The ₹852 crore IPO is a mix of fresh issue wo­rth ₹400 crore and an offer for sale of ₹452 crore. ALSO READ: Real estate giant Kalpataru eyes deleveraging amid ₹1,590 cr IPO Day 2: Arisinfra IPO subscribed 1.3 x The IPO of Arisinfra Solutions was subscribed 1.3 times on Thursday, the penultimate day of the issue. The institutional investor portion was subscribed 0.7 times, the wealthy investor portion by 1.4 times, and the retail investor portion by 3 times. ALSO READ: Influx Healthtech IPO Day 2 update: Subscription rises 16x, GMP at 47% Capillary Tech India files for IPO Capillary Technologies India, a company that offers artificial intelligence-based cloud-native SaaS products, refiled its draft red herring prospectus to raise funds for its initial public offering (IPO). The IPO comprises an issue of equity shares aggregating to ₹430 crore. ALSO READ: Oswal Pumps IPO listing forecast: Here's what the latest GMP hints at

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Mint

an hour ago

• Mint

Kalpataru IPO to open on Tuesday: 10 key things to know from RHP before you subscribe to ₹1590 crore issue

Kalpataru IPO in focus today: Kalpataru's initial public offering (IPO) is scheduled to kick off for subscription on Tuesday, June 24, and will remain open until Thursday, June 26. The company aims to raise ₹ 1,590 crore through the offering, which is entirely a fresh issue of 3.84 crore shares. The IPO price band is set at ₹ 387 to ₹ 414 per share. Of the total offering, 75% is reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for Retail Investors. ICICI Securities Limited, JM Financial Limited, and Nomura Financial Advisory and Securities (India) Pvt. Ltd. are the book-running lead managers of the Kalpataru IPO, while MUFG Intime India Private Limited (Link Intime) is the registrar for the issue. Kalpataru Limited is a Mumbai-based real estate developer with over three decades of presence in the residential and commercial property segments. It has developed numerous projects across Maharashtra, particularly in the Mumbai Metropolitan Region (MMR) and Pune. As of March 31, 2024, the company had 511.62 acres of land in various stages of development, amounting to 49.77 msf of developable area. Its ongoing projects, forthcoming projects, and planned projects amounted to 267.24 acres, 121.32 acres, and 123.06 acres, respectively, with a corresponding developable area of 22.02 msf, 19.93 msf, and 7.81 msf, respectively. The company also intends to complete and sell these projects within their respective timetables in order to monetize these land parcels. As of March 31, 2024, Kalpataru had five land reserves aggregating to 1,886.10 acres. Its land reserves were located in Surat, Gujarat; Pune, Maharashtra; Nagpur, Maharashtra; Udaipur, Rajasthan; and Shirol, Maharashtra. Kalpataru Limited operates in some of India's most competitive real estate markets, particularly the Mumbai Metropolitan Region (MMR) and Pune, which remain its primary focus areas. According to the Anarock Report, Kalpataru's key competitors in the areas where it currently operates include prominent real estate developers such as Lodha Group, Godrej Properties Limited, Rustomjee Group, Oberoi Realty, Mahindra Lifespace Developers, Prestige Estates, and Sunteck Realty. The company focuses on the development of luxury, premium, and mid-income residential, commercial, and retail projects; integrated townships; lifestyle gated communities; and redevelopments. For its residential developments, it builds and sells a wide range of properties, including villas, duplexes, apartments, and plots of varying sizes, with a primary focus on luxury, premium, and mid-income residential real estate. As of March 31, 2024, 67.71% of the developable area of the residential projects within its development portfolio was located within the MMR, aggregating to 33.69 msf of developable area. One of the key risks highlighted in the RHP is Kalpataru's geographic concentration, especially in the Mumbai Metropolitan Region (MMR) and Pune. Any adverse developments such as regulatory delays, policy changes, or demand slowdowns in these areas could significantly affect the company's performance. Moreover, the real estate sector is highly sensitive to interest rate movements, customer sentiment, and funding availability. In FY24, the company reported revenue of ₹ 1,930 crore and an adjusted EBITDA of ₹ 449 crore but posted a net loss of ₹ 113.8 crore. FY23 revenue was higher at ₹ 3,633 crore due to one-time land sales and subsidiary contributions, though the company still incurred a ₹ 226.7 crore loss. Kalpataru aims to raise ₹ 1,590 crore through a fresh issue of equity shares in its IPO. The proceeds will be used to repay or prepay loans, acquire land and development rights, meet general corporate needs, and support its subsidiaries' growth. Retail investors can apply for a minimum of 36 shares in one lot and can apply for up to 13 lots. At the upper end of the IPO price band ( ₹ 414), retail investors are required to make a minimum investment of ₹ 14,904 per lot. The allotment of shares for the Kalpataru IPO is expected to be finalised on Friday, June 27, 2025. Tentative listing on both the BSE and NSE is scheduled for Tuesday, July 01, 2025. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.

Time of India

4 hours ago

• Time of India

HDB Financial's Rs 12,500 crore IPO: 10 key facts investors should know before June 25

Investor interest is building around the upcoming initial public offering of HDB Financial Services , the non-banking finance arm backed by HDFC Bank . At Rs 12,500 crore, the long-awaited issue is poised to be the largest of 2025 so far, drawing attention from both institutional players and retail participants. As the subscription window nears, here are 10 key facts investors should know. 1. GMP points to strong debut As of June 20, the grey market premium for HDB Financial stood at Rs 83, implying a listing price of Rs 823, an 11.22% premium to the issue's upper band. Market watchers note the GMP trend has been upward in recent sessions, signalling expectations of a firm listing. 2. The largest IPO of the year to date With a total issue size of Rs 12,500 crore, HDB Financial's IPO is set to be the biggest in 2025 so far. It also ranks as the largest public offering since Hyundai Motor India's Rs 27,000 crore IPO last year. 3. HDB Financial Services IPO price band The price band for the issue has been fixed at Rs 700 to Rs 740 per share. Investors are advised to consider bidding at the cut-off to improve allocation chances in the event of oversubscription. 4. Subscription window The IPO will open for subscription on Tuesday, June 25, and close on Thursday, June 27. The basis of allotment is expected to be finalised on Monday, June 30. 5. Tentative listing Shares of HDB Financial are expected to list on both the BSE and NSE on Wednesday, July 2, subject to final regulatory approvals. 6. Offer structure The IPO comprises a fresh issue of Rs 2,500 crore and an offer for sale worth Rs 10,000 crore by HDFC Bank, which currently holds a 94.6% stake in the company. The share sale forms part of the bank's broader capital optimisation strategy. 7. Quotas reserved The issue includes reserved portions for eligible employees of HDB Financial as well as shareholders of parent HDFC Bank . 8. Application sizes and investment requirements Retail investors can apply for a minimum of 20 shares, amounting to Rs 14,000 at the lower band and Rs 14,800 at the upper band. For small non-institutional investors applicants, the minimum investment is Rs 2,07,200 (14 lots); for big non-institutional investors, it is Rs 10,06,400 (68 lots). 9. Managed by a consortium of global and domestic banks The IPO is being led by a 13-member syndicate of book-running lead managers, including BofA Securities India, Goldman Sachs (India), Morgan Stanley, JM Financial , Motilal Oswal, and others. MUFG Intime India (Link Intime) is the registrar. 10. Key player in India's NBFC sector HDB Financial Services operates across retail and commercial lending segments, offering products such as personal loans, vehicle loans, gold loans, and loans against property. The company has a wide presence in semi-urban and rural markets, and intends to use the fresh issue proceeds to bolster capital adequacy and support lending growth. Also read | HDFC Bank shares in focus as Rs 12,500-crore HDB Financial IPO opens next week ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

Hindustan Times

7 hours ago

• Hindustan Times

Kalpataru IPO launch next week; focus on sub- ₹10 crore housing in MMR and Pune

Mumbai-based real estate developer Kalpataru, which is set to launch its Initial Public Offering (IPO) next week, announced that it will continue to focus on key markets including the Mumbai Metropolitan Region (MMR), Pune, and Hyderabad, where it already has ongoing projects. The company noted that a majority of the housing demand falls within the ₹1 crore to ₹10 crore price bracket, which aligns with its existing inventory. Of its 50 million sq. ft. portfolio, approximately 70% is priced up to ₹10 crore, with a substantial portion available for under ₹3 crore. "The demand if we go to see today is majority in the ₹1 crore to ₹10 crore segment, and this is what our supply is. Going further, we will adapt as per the demand. However, the majority of the demand, at least in Mumbai, is for ₹1 crore to ₹10 crore," said Parag Munot, managing director, Kalpataru. "We also have redevelopment projects in our portfolio, and we are very positive about redevelopment projects in MMR. There is no doubt that the MMR and Pune markets have good depth, but we also see depth in Delhi-NCR, Hyderabad, and Bengaluru," Munot said. Also Read: Kalpataru inks redevelopment agreements with two housing societies in Mumbai with a revenue potential of ₹2,000 crore The company also has a strong presence in the premium and luxury segments of the Mumbai real estate market. Almost 95% of its portfolio is in the residential segment, and 73% is in the Mumbai Metropolitan Region. The company has completed over 120 projects at the group level. In addition to the residential segment, the company has commercial real estate projects in MMR and Pune and plotted development projects in MMR and Nagpur. Also Read: Mumbai-based Kalpataru Ltd plans to foray into Nagpur real estate market, may launch a plotted development project The company will open its IPO on June 24 and close on June 26. The price band of the Issue has been fixed from ₹ 387 per equity share to ₹ 414 per equity share. The company plans to raise ₹1,590 crore from the IPO. Also Read: Mumbai real estate news: Blackstone-backed ASK Property Fund invests ₹190 crore in Kalpataru's project The IPO proceeds will be primarily used for debt repayment, a strategic move to strengthen the company's balance sheet. As of December 31, 2024, Kalpataru reported total assets of ₹15,562 crore.