Anondita Medicare IPO vs Classic Electrodes IPO: Latest GMP, Subscription Status And Other Key Details

The initial public offerings of Anondita Medicare Ltd. and Classic Electrodes (India) Ltd. will close for subscription on Tuesday. They will make their debut on the stock market next week.

Ahead of their listing, the focus is on their respective grey market premiums (GMP). The share allotment for the IPOs is scheduled for Thursday, Aug. 28. Here's a look at what the latest GMP indicates for these IPOs.

According to InvestorGain, the GMP for the Anondita Medicare IPO stood at Rs 78 as of 2:00 p.m. on Aug. 26. It indicates a listing price of Rs 223 apiece at a premium of 53.79% over the upper limit of the IPO price band. 

The company's shares are tentatively scheduled to be listed on the NSE SME platform on September 1.

The Anondita Medicare IPO was subscribed 205.19 times as of 2:30 p.m. on the third and final day of bidding on Tuesday, Aug. 26.

The Anondita Medicare IPO is a book-built issue of Rs 69.50 crore. It comprises a fresh issue of 48 lakh shares.

The price band for the IPO is set between Rs 137 and Rs 145 per share. 

Anondita Medicare is a manufacturer of condoms and produces over 56 crore condoms annually.

Also Read: ⁠IPO GMP Today: Vikran Engineering Vs Anlon Healthcare; Check What Grey Market Premium Suggests

The GMP for the Classic Electrodes IPO stood at Rs 21 as of 2:00 p.m. on Aug. 26, according to InvestorGain. The latest GMP indicates a listing price of Rs 108 apiece, at a premium of 24.14% compared to the upper limit of the issue price.

Shares of the company are expected to be listed on the NSE SME platform on Sept. 1.

The Classic Electrodes IPO was subscribed 118.62 times as of 2:34 p.m. on the third and final day of bidding on Tuesday, Aug. 26.

The Classic Electrodes IPO is a book-built issue of Rs 41.51 crore. It comprises entirely a fresh issue of 48 lakh shares.

The price band for the IPO is set between Rs 82 and Rs 87 per share. 

The company is a leading electrodes manufacturer. Its products include stainless steel electrodes, cast iron electrodes and deep penetration electrodes. 

Note: GMP does not represent official data and is based on speculation.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.