IPO Grey Market Premiums Comparison: The IPO market is buzzing once again with the launch of four mainboard IPOs from Schloss Bangalore Ltd. (Leela Hotels Ltd.), Aegis Vopak Terminals Ltd., Prostarm Infosystems Ltd. and Scoda Tubes Ltd. The week was very busy for the investors as well, with five SME IPOs getting launched in the same week.
Out of the four mainboard IPOs, the initial public offerings of Leela Hotels and Aegis Vopak Terminals concluded their subscription on May 27. Prostarm Info Systems will conclude its IPO today (May 29), whereas the public issue of Scoda Tubes will close for subscription on Friday, May 30.
According to the latest Grey Market Premium (GMP) trends, both these IPOs can expect a favorable listing when their shares list on the bourses next week. The GMP for both these IPOs has been constant since it opened for subscription but the GMP trends can change before the shares debut next week.
Prostarm Info Systems IPO GMP
The latest GMP for the Prostarm Info Systems IPO stood at Rs 20 on May 29. This indicates that the unlisted shares of Prostarm were trading at Rs 125 per share. Investors can look forward to an expected gain of 19.05% when the shares list next week, assuming the current GMP trends stay the same.
The IPO has been garnering significant attention from investors, with the public issue getting subscribed close to 100 times on its final day, led by demand from non-institutional investors.
The Prostarm Info Systems IPO is a bookbuilding issue of Rs 168 crore. It comprises a fresh issue of 1.6 crore shares. The price band for the IPO is set between Rs 95 to Rs 105 per share.
The IPO will remain open for subscription till May 29. The tentative date for the listing of shares on BSE and NSE is June 3.
Scoda Tubes IPO GMP
The latest GMP for the Scoda Tubes stood at Rs 22 on May 29. The current GMP indicates that the unlisted shares of the company were trading at Rs 162 per share on the grey market. Investors can look forward to an expected gain of 15.71% when the shares debut on the bourses next week, assuming the current GMP trends stay the same.
Scoda Tubes IPO is aiming to raise Rs 220 crore from the primary market. It comprises entirely a fresh issue of 1.57 crore shares. The price band for the IPO is set between Rs 130 to Rs 140 per share. The public issue has been booked over 6 times on Thursday (Day 2).
The IPO will remain open for subscription till May 30. Shares of the company are expected to list on the BSE and NSE on June 4.
It should be noted that GMP or grey market price is not an official price quote for the stock and is based on speculation.
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