IPO GMP Today: Meesho Vs Vidya Wires Vs Aequs; Latest Trends Suggest Over 40% Listing Gains

Primary market is buzzing again after the launch of the three mainboard IPOs today. After a fortnight without major initial public offerings, investors are expected to see hectic activity this week with leading e-commerce platform Meesho, metal wires producer Vidya Wires, and Diversified contract manufacturing company Aequs launching their initial public offerings (IPOs) on Wednesday, December 3.

The grey market premium for these three IPOs has already started to make headlines and is topping the 'Business and Finance' trending charts today. With private market investors anticipating strong listing gains of up to 40%, all eyes would be on the grey market premium for these three IPOs for the next three days. Although one must note that the grey market is unregulated (not governed by authorities like SEBI) and speculative, it can fluctuate wildly. Therefore, investors use it as a sentiment gauge, but not as a guaranteed prediction.

Here’s what the latest grey market trends suggest for the three upcoming IPOs.

The latest grey market premium (GMP) for the Meesho IPO stood at Rs 49 per share on December 3. Compared to the upper end of the price band of Rs 111, the latest GMP indicates an estimated listing price of Rs 160 apiece. This means that the unlisted shares of Mesho Ltd. were trading at a premium of 44.14% in the private market.

Meesho aims to raise Rs 5,421.2 crore through its IPO. The book-building issue comprises a fresh issuance of 38.29 crore shares, aggregating to Rs 4,250 crore and an offer-for-sale (OFS) of 10.55 crore shares, worth 1,171.2 crore.

The IPO price band has been set at Rs 105 to Rs 111 per share. The lot size for the IPO comprises 135 shares. Retail investors need to apply for at least one lot, with a minimum investment of Rs 14,985 per application.

Meesho Ltd., which became an Indian e-commerce heavyweight by selling Temu-like low-priced offerings, plans to deploy some of the proceeds from its $606 million initial public offering to penetrate smaller towns in the world’s biggest consumer market.

According to the latest BSE data, the IPO has been subscribed 0.21 times so far. Investors have bid for 5,83,24,590 shares against the 27,79,38,446 on offer.

The latest GMP for the Aequs IPO stood at Rs 46.5 on December 3. The GMP indicates an estimated listing price of Rs 170.5 per share against the upper price band of Rs 124. This means that the unlisted shares of Aequs were trading at a premium of 37.50% over the issue price.

The Aequs IPO is a book-building issue worth Rs 921.81 crore. The IPO comprises of a fresh issuance of 5.4 crore shares, amounting to Rs 670 crore and an OFS portion of 2.03 crore shares, aggregating to Rs 251.81 crore.

The IPO price band has been set at Rs 118 to Rs 124 per share. Retail investors should apply for at least one lot size of 120 shares. The minimum bid amount for retail investors is Rs 14,880 per application.

According to the latest BSE data, the IPO has been subscribed 0.49 times so far. Investors have bid for 2,04,56,280 shares against the 4,20,26,913 on offer.

The latest GMP for Vidya Wires IPO stood at Rs 6 per share as of December 3. Compared to the upper limit of the issue price of Rs 52, the GMP indicates an estimated listing price of Rs 58 apiece. This means that the unlisted shares of Vidya Wires were trading at a premium of 11.54%.

The Rs 300-crore IPO comprises a fresh issue of 5.27 crore shares, worth Rs 274 crore and an OFS component of 50 lakh shares, amounting to Rs 26.01 crore.

The price band for Vidya Wires IPO has been set at Rs 48 to Rs 52 per share. Retail investors are required to apply for one lot of 288 shares, amounting to an investment of Rs 14,976, based on the upper limit of the issue price.

According to the latest BSE data, the IPO has been subscribed 0.48 times so far. Investors have bid for 2,09,18,016 shares against the 4,33,34,009 on offer.

All three IPOs will remain open for subscription from December 3 to December 5. The companies are scheduled to finalise share allotment for their IPOs on December 8. Refunds and transfer of shares to the Demat accounts will be initiated on December 9.  

Shares of all three companies are tentatively scheduled to be listed on the NSE and BSE on December 10.   

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.

GMP Disclaimer: The final listing price is determined by the official price discovery mechanism on the stock exchange on listing day, which is influenced by official subscription data, anchor investor interest, and overall market conditions, not just the GMP.