IPO GMP In Focus Today: Urban Company vs Shringar House Of Mangalsutra vs Dev Accelerator

The initial public offerings (IPOs) of Urban Company, Dev Accelerator, and Shringar House of Mangalsutra will close for subscription today, September 12. The mainboard issues have witnessed a strong demand from investors, with over 10x subscription on Day 2.

As subscriptions for these three IPOs conclude today, the grey market premium (GMP) is in focus among the grey market traders and investors. The grey market premium for Urban Company has been more in the news after the GMP soared yesterday. Similarly, the GMP for Shringar House of Mangalsutra IPO has also shows gains going into the final day of subscription. The grey market premium for the Dev Accelerator IPO has remained constant despite strong interest from investors, who have booked the issue close to 20 times.

Here’s a look at what the latest grey market premium (GMP) indicates for these mainboard issues.

The latest GMP for the Urban Company IPO was Rs 44 per share on September 12. The current GMP indicates a listing price of Rs 147 apiece, a premium of 42.72% over the upper limit of the IPO price band. 

The IPO of Urban Company was subscribed 94.32 times as of 3:33 p.m. on September 12. The IPO received bids for 10,07,13,05,745 shares against 10,67,73,244 shares offered.

The Urban Company IPO is a book-building issue worth Rs 1,900 crore. It comprises a fresh issue of 4.58 crore shares, amounting to Rs 472 crore, and an offer-for-sale (OFS) of 13.86 crore shares, worth Rs 1,428 crore.

The price band for the IPO has been fixed between Rs 98 and Rs 103 per share.

The allotment of shares for Urban Company is expected to be finalised on September 15. Shares of Urban Company will be listed on the BSE and NSE on September 17.

According to InvestorGain, the latest GMP for the Shringar House of Mangalsutra IPO stood at Rs 31 on September 12. It indicates a listing price of Rs 196 apiece at a premium of 18.79% over the issue price.

The Shringar House of Mangalsutra IPO was subscribed 51.66 times as of 3:33 p.m. on September 12. It received bids for 87,91,26,480 shares against 1,70,16,000 shares offered. 

The mainboard IPO is a book-building issue worth Rs 400.95 crore. It consists of only a fresh issuance of 2.43 crore shares.

The price band for the IPO has been fixed between Rs 155 and Rs 165 per share.

The allotment of shares for Shringar House of Mangalsutra is expected to be finalised on September 15. Shares of Shringar House of Mangalsutra are proposed to be listed on the BSE and NSE on September 17. 

Also Read: Airfloa Rail Technology IPO GMP Soars On Day 2; Check Latest GMP

The latest GMP for the Dev Accelerator IPO stood at Rs 10 per share on September 12. The latest GMP signals an estimated listing price of Rs 71 apiece, at a premium of 16.39%, compared to the upper limit of the issue price.

The IPO for Dev Accelerator was subscribed 59.94 times as of 3:33 p.m. on September 12. It received bids for 78,80,75,320 shares against 1,31,47,075 shares offered. 

The Dev Accelerator IPO is a book-building issue worth Rs 143.35 crore. It comprises entirely a fresh issue of 2.35 crore shares.

The price band for the IPO has been fixed between Rs 56 and Rs 61 per share.

The IPO share allotment status for Dev Accelerator is expected to be finalised on September 15.  Shares of Dev Accelerator are proposed to be listed on the BSE and NSE on September 17.

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

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.