The Indian stock market is set to witness significant primary market activity due to several initial public offerings (IPOs) in the upcoming week, starting Monday, 23 June 2025. A total of six mainboard IPOs are scheduled to open in the upcoming week.
Six companies, namely HDB Financial, Sambhv Steel Tubes, Globe Civil Projects, Ellenbarrie Industrial Gases, Kalpataru, and Indogulf Cropsciences, aim to raise funds from the public markets.
Grey market premium (GMP) serves as an indicator of the investors’ willingness to subscribe to a particular primary issue.
Here’s what Grey market signals ahead of IPO
1. HDB Financial IPO: As of Sunday, 22 June 2025, the grey market premium for the HDB Financial IPO stands at ₹43.5 per share. With the upper price band of the public issue at ₹740, the shares are expected to be listed at ₹783.5 apiece, with a premium of 5.88 per cent, according to Investorgain data.
The GMP dropped to its current level of ₹43.5 over the last two days, compared to its ₹91 per share level on 20 June 2025.
The HDB Financial IPO is set to open on Wednesday, 25 June 2025, and is scheduled to close on Friday, 27 June 2025. The company fixed the price band of the public issue in the range of ₹700 to ₹740 per share.
2. Sambhv Steel Tubes IPO: As of Sunday, 22 June 2025, the grey market premium for the Sambhv Steel Tubes IPO stood at ₹8 per share. With the upper price band of the IPO at ₹82 per share, the shares are expected to be listed at ₹90 apiece, with a premium of 9.76 per cent, Investorgain data shows.
The GMP remains flat in the last two days, while it dropped from its ₹11 levels on 20 June 2025. The IPO will open for public bidding on Wednesday, 25 June 2025, and is scheduled to close on Friday, 27 June 2025. The price band for the IPO has been fixed at ₹77 to ₹82 per share.
3. Globe Civil Projects IPO: As of Sunday, 22 June 2025, the grey market premium of the Globe Civil Projects IPO stood at ₹13 per share. With the upper price band for the public issue at ₹71 per share, the stocks are expected to be listed at a premium of 18.31 per cent at ₹84, according to Investorgain data.
The IPO is set to open for subscription on Tuesday, 24 June 2025, and is scheduled to close on Friday, 27 June 2025. The company fixed the price band for the issue in the range of ₹67 to ₹71 per share.
4. Ellenbarrie Industrial Gases IPO: The grey market premium for the Ellenbarrie Industrial Gases public issue stood at ₹12 per share, and with the upper price band for the IPO at ₹400, the stocks are expected to be listed at ₹412. This marks a listing premium of 3 per cent, according to Investorgain data as of Sunday, 22 June 2025.
The IPO will open for public bidding on Tuesday, 24 June 2025, and is scheduled to close on Thursday, 26 June 2025. The company fixed the price band for the IPO in the range of ₹380 to ₹400 per share.
5. Kalpataru IPO: Kalpataru IPO’s grey market premium was at ₹9 per share as of Sunday, 22 June 2025. With the upper price band for the public issue at ₹414 per share, the stocks are expected to be listed at ₹423 apiece, marking a listing gain of 2.17 per cent, Investorgain data shows.
The GMP dropped to its current level of ₹9 per share on Sunday from its earlier ₹11 levels on Saturday, 21 June 2025. The IPO will open for public bidding on Tuesday, 24 June 2025, and is scheduled to close on Thursday, 26 June 2025. The company has fixed the price band for the issue in the range of ₹387 to ₹414 per share.
6. Indogulf Cropsciences IPO: The grey market premium for the Indogulf Cropsciences IPO stood flat at ₹0 per share, as of Sunday, 22 June 2025. The shares are set to be open for public bidding on Thursday, 26 June 2025, while the closing date is scheduled on Monday, 30 June 2025. The price band of the public issue is yet to be announced.
Read all stories by Anubhav Mukherjee
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