Meesho IPO Vs Aequs IPO Vs Vidya Wires IPO: GMP Hints Over 40% Listing Gain

Primary market is buzzing again after the launch of the three mainboard IPOs. Leading e-commerce platform Meesho, metal wires producer Vidya Wires, and Diversified contract manufacturing company Aequs launched their initial public offerings (IPOs) on Wednesday, December 3.

All three IPOs were fully subscribed on Day 1, with Meesho getting booked 2.35 times, Aequs 3.42 times and Vidya Wires 2.89 times.

The grey market premium for these three IPOs has been topping the 'Business and Finance' trending charts since yesterday. 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 as subscription enters its second day. 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 IPOs.

The latest grey market premium (GMP) for the Meesho IPO stood at Rs 45 per share on December 4. Compared to the upper end of the price band of Rs 111, the latest GMP indicates an estimated listing price of Rs 156 apiece. Shares of Mesho Ltd. are expected to list at a 40.54% premium over the issue price.

Meesho IPO Day 2 Subscription Status

The IPO was subscribed 2.43 times, with investors bidding for 67,43,35,530 shares against the 27,79,38,446 on offer.

• Qualified Institutional Buyers (QIBs): 2.12 times

• Non Institutional Investors(NIIS): 1.87 times

• Retail Individual Investors (RIIs): 4.16 times

About Meesho IPO

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.

The latest GMP for the Aequs IPO stood at Rs 45.5 on December 4. The GMP indicates an estimated listing price of Rs 169.5 per share against the upper price band of Rs 124. The latest GMP hints at a potential premium of 36.69% over the issue price.

Aequs IPO Day 2 Subscription Status

The IPO was subscribed 3.58 times, with investors bidding for 15,04,78,800 shares against the 4,20,26,913 on offer.

• Qualified Institutional Buyers (QIBs): 0.66 times

• Non Institutional Investors(NIIS): 3.48 times

• Retail Individual Investors (RIIs): 12.22 times

About Aequs IPO

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 a single lot size of 120 shares. The minimum bid amount for retail investors is Rs 14,880 per application.

JM Financial Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.

The latest GMP for Vidya Wires IPO was Rs 5 per share as of December 4. Compared to the upper limit of the issue price of Rs 52, the GMP indicates an estimated listing price of Rs 57 apiece at a premium of 9.62%.

Vidya Wires IPO Day 2 Subscription Status

The IPO was subscribed 3.08 times, with investors bidding for 13,35,85,632 shares against the 4,33,34,009 on offer.

• Qualified Institutional Buyers (QIBs): 0.47 times

• Non Institutional Investors(NIIS): 3.48 times

• Retail Individual Investors (RIIs): 4.39 times

About Vidya Wires IPO

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.

Pantomath Capital Advisors Pvt. Ltd. is the book-running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.

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

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.

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.