IPO GMP Today: Urban Company vs Dev Accelerator vs Shringar House Of Mangalsutra; Check Grey Market Trends

The initial public offerings (IPOs) of Urban Company, Dev Accelerator, and Shringar House of Mangalsutra are open for subscription from September 10 to September 12.

Amid the ongoing subscription, the IPOs are in focus of the grey market traders. Here’s a look at what the latest grey market premium (GMP) indicates for these IPOs.

According to InvestorGain, the GMP for the Urban Company IPO stood at Rs 38.5 per share as of 2:30 p.m. on September 10. The latest GMP indicates a listing price of Rs 141.5 apiece, a premium of 37.38% over the upper limit of the IPO price band. 

Urban Company IPO was subscribed 2.41 times as of 3:10 p.m. on the first day of bidding on September 10. The IPO received bids for 25,74,28,215 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 is expected to be finalised on September 15. Shares of Urban Company will be listed on the BSE and NSE on September 17.

Urban Company runs a digital marketplace that offers home and beauty services.

The GMP for the Dev Accelerator IPO stood at Rs 9 per share as of 2:30 p.m. on September 10, according to InvestorGain. The latest GMP signals an estimated listing price of Rs 70 apiece, at a premium of 14.75%, compared to the upper limit of the issue price.

The IPO for Dev Accelerator was subscribed 4.36 times on the first day of bidding till 3:10 p.m. on Wednesday. It received bids for 5,72,84,305 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 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.

Dev Accelerator offers workplace solutions to businesses across India. 

According to InvestorGain, the GMP for the Shringar House of Mangalsutra IPO stood at Rs 30 as of 2:30 p.m. on September 10. It indicates a listing price of Rs 195 apiece at a premium of 18.18% over the issue price.

The Shringar House of Mangalsutra IPO was subscribed 1.58 times on the first day of bidding as of 3:00 p.m. on September 10. It received bids for 2,68,83,000 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 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. 

The company is in the business of designing and manufacturing mangalsutras.

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.