The initial public offerings (IPO) of HDB Financial Services and Kalpataru are set to open in the primary market for their share sale this week. HDB Financial Services will begin its maiden share sale on June 25, while the Kalpataru initial share sale will start on tomorrow (June 24).
Ahead of their share sales, the grey market premium of both the IPOs is keenly watched by the investors to gauge the investor interest. GMP is one of the key indicators of market sentiment surrounding an IPO. It's a premium amount paid at which initial public offering (IPO) shares are traded before it is listed on the stock exchanges.
According to platforms tracking the grey market activities, the shares of HDB Financial Services are commanding a GMP of about 7 percent in the unregulated market. Investorgain quoted a GMP of Rs 53 for the shares of the company, indicating a listing gain of 7.16 percent.
The subsidiary of HDFC Bank has fixed a price band of Rs 700-740 per share for its Rs 12,500 IPO. At the upper end of the price band, the company is valued at nearly Rs 61,400 crore.
HDB Financial Services' maiden public issue will open for subscription on June 25 and conclude on June 27, while the bidding for the anchor investor will open for a day on June 24.
Meanwhile, shares of real estate firm Kalpataru are commanding a GMP of around 2 percent. The company has fixed a price band of Rs 387 to Rs 414 per share for its Rs 1,590 crore IPO. The initial share sale will open for public subscription on June 24 and conclude on June 26. The bidding for anchor investors will open on June 23, the company announced.
The company's IPO is entirely a fresh issue of equity shares worth Rs 1,590 crore with no Offer For Sale (OFS) component. At the upper end of the price band, the company is valued around Rs 8,500 crore, brokerage houses said.
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