12 IPOs to Hit Dalal Street in the Week of June 23–28; HDB Financial Leads with Rs 12,500 Crore Mega Issue

The upcoming week, starting June 23, promises a bustling schedule for the primary market. Twelve companies are gearing up to launch their initial public offerings (IPOs) on Dalal Street, collectively aiming to raise Rs 15,800 crore. Among these, five belong to the mainboard segment. This surge in IPO activity is attributed to the overall positive sentiment in the equity market.

Upcoming IPOs This Week From June 23 to June 28

With five mainboard IPOs and a slew of SME offerings lined up, investors have plenty of opportunities to explore in both large-cap and niche segments. The spotlight is firmly on HDB Financial Services, which is launching the biggest IPO of the year, aiming to raise a massive Rs 12,500 crore. Alongside, companies like Globe Civil Projects, Ellenbarrie Industrial Gases, Kalpataru, and Sambhv Steel Tubes are also entering the market with their own public issues.

HDB Financial Services IPO: Know Rs 12,500 Crore IPO Issue Period

With a massive size of Rs 12,500 crore, HDB Financial Services is leading India's IPO trail this year. The issue period runs from June 25 to 27, 2025, and it has set a price band of Rs 700 to Rs 740 per share, with a minimum lot of 20 shares. The tentative listing date is July 2, 2025, on both BSE and NSE.

This is a mixed issue, a fresh equity raise of Rs 2,500 crore (3.38 crore shares) and an offer-for-sale (OFS) amounting to Rs 10,000 crore (13.51 crore shares). With strong investor interest, retail bidders are advised to apply at the cut-off price of Rs 740, which would require an investment of approximately Rs 14,800 per lot. Similarly, small and big Non-Institutional Investors (sNII and bNII) are expected to make large commitments well above Rs 2 lakh.

A top-tier syndicate of lead managers is steering the issue, including BNP Paribas, JM Financial, Bank of America Securities, Goldman Sachs, Morgan Stanley, Motilal Oswal, and others. MUFG Intime India Pvt Ltd is serving as the registrar.

Globe Civil Projects IPO

Slated for June 24-26, 2025, Globe Civil Projects will raise Rs 119 crore through a fresh issue of equity shares. With a modest price band of Rs 67-71 and a large lot size of 211 shares, each lot costs nearly Rs 15,000-positioning it as an affordable option for retail investors. The company focuses on infrastructure development projects, and its IPO is expected to attract interest from local investors as it prepares to list on operations with a tentative date of July 1, 2025.

Ellenbarrie Industrial Gases IPO

Opening June 24-26, 2025, Ellenbarrie Industrial Gases is issuing Rs 852.5 crore worth of shares, split between a Rs 400 crore fresh issue and a Rs 452.5 crore OFS. The price band is set at Rs 380-400, and the minimum lot size is 37 shares. With strategic demand for industrial and medical gases, the IPO is drawing attention from institutional investors. The listing is expected on July 1, 2025, and Kfin Technologies will manage the registrar duties.

Kalpataru IPO

This Rs 1,590 crore offering, scheduled for June 24-26, 2025, comprises entirely fresh equity shares, with no OFS component. The price range is Rs 387-414, and the lot size is 36 shares, with trading expected from July 1, 2025. As a well-known player in real estate development, Kalpataru intends to use these funds toward expansion and debt reduction.

Sambhv Steel Tubes IPO

Sambhv Steel Tubes aims to raise Rs 540 crore (Rs 440 crore fresh issue and Rs 100 crore OFS) from June 25-27, 2025, at a price band of Rs 77-82. The lot size of 182 shares is expected to appeal to investors interested in India's growing manufacturing and steel sectors. The tentative listing date has been set for July 2, 2025.

Arisinfra Solutions IPO on June 28

While these IPOs are being subscribed, investors should also mark their calendars for Arisinfra Solutions, debuting on the mainboard on June 28, 2025. Backed by bullish market sentiment and positive grey market indicators, it could enjoy a healthy listing pop.

Activity on SME Board: 7 Upcoming Offers

The IPO frenzy is not limited to the mainboard-India's SME platform is also buzzing. Seven SMEs are opening for subscription, and seven others are set to list next week, offering niche investment prospects:

SME IPOs Opening From June 24-27:

AJC Jewel Manufacturers, Abram Food, Icon Facilitators, Shri Hare‑Krishna Sponge Iron, Suntech Infra Solutions, Ace Alpha Tech, and PRO FX Tech. These firms serve a range of sectors, from jewellery and food to industrial infrastructure and tech services.

SME IPOs Listing Next Week

Samay Project Services, Patil Automation, Eppeltone Engineers, Influx Healthtech, Safe Enterprises Retail Fixtures, Mayasheel Ventures, and Aakaar Medical Technologies. These issuers offer retail investors opportunities to gain quick exposures and potential listing gains in niche areas.

Despite short-term challenges from Middle East tensions and tariff-related fluctuations, the broader market outlook remains optimistic. Bajaj Broking Research noted that "Market sentiment remains broadly constructive, driven by improving macroeconomic indicators, favourable liquidity conditions, and increasing participation from both institutional and retail investors."