In terms of IPOs, this month is going out with a Fourth of July-sized barrage of fireworks. Twenty-one new stocks should hit the exchange between now and Friday, and several stand to rake in big bucks if their flotations are successful. Out of the 21, 10 should bring in proceeds over $100 million, provided they sell at the midpoint or higher of their announced price range.

Before taking a brief look at the three of the issues I've chosen to highlight this week, our usual word of caution: Investing in IPOs carries an above-average level of risk, as initial stock prices can be far from the value the market eventually puts on the company's shares. IPOs therefore provide great upside potential, but you also run the risk of losing a substantial part of your investment.

Thanks for reading the warning sticker. Now, the picks.

One of the big beneficiaries of the recent wave of IPOs is financial-services powerhouse Blackstone Group (NYSE:BX), which has kept itself busy bringing chunks of its various portfolio holdings to market. Catalent is one such asset -- a biotech that says it's the world's top provider of advanced delivery technologies for a wide variety of drug and consumer-health form factors. The company has managed to grow its top line over the past few years while shaving net loss, for the most part. 

Catalent's IPO will take place on Thursday, and 42.5 million shares will be sold for $19 to $22 apiece. The stock should list on the New York Stock Exchange under the ticker symbol CTLT.

Synchrony Financial
This week's whopper of an IPO is for this niche company, which could take in gross proceeds of over $3.2 billion if its flotation goes well. Synchrony Financial is a spinoff of General Electric (NYSE:GE), or, more accurately, its mighty financial arm, GE Capital. The soon-to-be independent firm concentrates on specialty credit card products and services, and when accounted for as a standalone unit, it has been consistently profitable since 2009, with high net margins.

No less than 125 million shares of Synchrony Financial will go on sale Thursday, listing on the NYSE under the ticker symbol SYF.

Transocean Partners
It'll be a good week for spinoff companies. This one has been formed by offshore oil drilling specialist Transocean (NYSE:RIG), and it will begin life with 51% ownership stakes in three of its mother company's rigs in the Gulf of Mexico. Apparently those facilities are nice and productive, as Transocean Partners would have taken in $148 million in revenues and netted a profit of $63 million in Q1 if it had existed as an independent entity back then.  

We'll see 17.5 million units of Transocean Partners offered for sale on Thursday. The price is $19 to $21 per unit, and the stock will trade on the NYSE under the ticker symbol RIGP.