The primary market is heating up as two major IPOs hit the street this week — HDB Financial Services and Kalpataru Projects International. Both companies are making headlines with strong grey market premiums (GMP), signalling investor interest ahead of their official listings.
Let’s break it down.
HDB Financial Services IPO: A Big Ticket Debut
HDB Financial Services, a non-banking finance company backed by HDFC Bank, is all set to open its IPO on June 25. The public issue will close on June 27, with anchor investor bidding starting June 24.
The company has set a price band of Rs 700 to Rs 740 per share for its massive Rs 12,500 crore IPO. At the upper limit, this values HDB at nearly Rs 61,400 crore — making it one of the biggest IPOs in recent times.
And here’s the buzz:
In the grey market, shares of HDB Financial are commanding a premium of Rs 53, which suggests a listing gain of around 7.16%, according to Investorgain. That’s a strong start for a company with such high stakes.
Also Read High Valuations and IPO Surge Could Hurt Indian Markets, Says Jefferies Expert
Kalpataru Projects IPO: Real Estate Gets Real
Next in line is Kalpataru Projects International, a name in the infrastructure and real estate space. Its IPO opens June 24 and wraps up on June 26. Anchor bidding has already kicked off on June 23.
The IPO is completely a fresh issue worth Rs 1,590 crore — no Offer For Sale (OFS) here. Kalpataru’s price band is set at Rs 387 to Rs 414, valuing the company at around Rs 8,500 crore at the top end.
So what’s the market saying?
Kalpataru’s shares are currently seeing a GMP of around 2%, hinting at a mild but positive listing sentiment.
Why Does GMP Matter?
GMP, or grey market premium, is the unofficial price at which shares trade before the IPO listing. While not always accurate, it offers a sneak peek into investor mood and market demand.
In this case, the rising GMPs for both HDB and Kalpataru are a strong signal. Investors are watching closely — and for good reason.
Final Word
Two sectors. Two IPOs. Two different scales.
But the sentiment is clear: the IPO market is alive and kicking. If you’re looking to invest, this week might be your cue.
Just remember — GMP is one sign, but not the full story. Always read the prospectus and do your own research.
Disclaimer:
This article is for informational purposes only and does not constitute investment advice. Please consult a certified financial advisor before making any investment decisions.
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