INDO SMC Vs GRE Renew Enertech IPO GMP: Grey Market Trends Suggest Up To 25% Listing Gain

Primary market investors are closely watching two SME IPOs, which opened for subscription today, on Tuesday, Jan. 13.

INDO SMC is a book-built issue worth Rs 91.95 crore, while GRE Renew Enertech is a book-built issue of Rs 39.56 crore. 

Investors are closely tracking the grey market premiums (GMP) of these IPOs to estimate potential listing gains. Early trends suggest healthy gains, with listing premiums possibly up to 24% for these IPOs. 

Interested investors can check the latest details of these IPOs, including GMPs, price band, company information, and other factors to make informed investment decisions.

According to InvestorGain, the latest GMP for INDO SMC IPO is Rs 36 on Jan. 13. With an upper price band of Rs 149, the IPO’s estimated listing price is around Rs 185 per share, combining the cap price and today’s GMP. This indicates an expected gain of approximately 24.16% per share for investors.

INDO SMC Ltd designs and manufactures a diversified range of products serving electrical, industrial and infrastructure sectors. INDO SMC IPO is a book-built issue worth Rs 91.95 crore, entirely a fresh issue of 62 lakh shares.

The price band is Rs 141–Rs 149 per share, with a minimum application lot of 1,000 shares. 

Retail investors need to invest at least Rs 2,98,000 (2,000 shares at the upper price).

GYR Capital Advisors Pvt. Ltd. is the lead manager, and KFin Technologies Ltd. is the registrar.

The IPO opened for subscription on Jan. 13 and closes on Jan. 16. The process of share allotment is expected on Jan. 19, with a tentative listing on BSE SME on Jan. 21.

The IPO has been subscribed 0.55 times so far on Tuesday.

The latest GMP for the GRE Renew Enertech SME IPO is Rs 7 on Jan. 13, the InvestorGain website noted. With a price band of Rs 105, the IPO’s estimated listing price is around Rs 112 per share (cap price + today’s GMP). This suggests an expected gain of approximately 6.67% per share for investors over the issue price.

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

GRE Renew Enertech is launching a book-built IPO of Rs 39.56 crore, entirely a fresh issue of 38 lakh shares. The company is an emerging player in rooftop and ground-mounted solar solutions and LED manufacturing.

The issue is open for bidding from Jan. 13 to Jan. 16. The IPO is priced between Rs 100–Rs 105 per share, with each application lot size of 1,200 shares. To participate, the minimum retail investment needed is Rs 2,52,000 (for 2,400 shares at the upper price). 

The allotment of shares is expected on Jan 19. The shares will tentatively list on BSE SME around Jan 21. Share India Capital Services Pvt. Ltd. is the book running lead manager, while Maashitla Securities Pvt. Ltd. is the registrar for this issue.

The IPO has been subscribed 1.01 times so far on Tuesday.

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.