The initial public offerings of Anondita Medicare Ltd. and Classic Electrodes (India) Ltd. concluded their subscription on Tuesday. They will make their debut on the stock market next week.
Ahead of their listing, the focus is on their respective grey market premiums (GMP). The share allotment for the IPOs is scheduled for Thursday, Aug. 28. Here's a look at what the latest GMP indicates for these IPOs.
Anondita Medicare IPO GMP
The latest GMP for the Anondita Medicare IPO stood at Rs 80 as on Aug. 26. It indicates a listing price of Rs 225 apiece at a premium of 55.17% over the upper limit of the IPO price band.
The company's shares are tentatively scheduled to be listed on the NSE SME platform on September 1.
The Anondita Medicare IPO was subscribed over 300.89 on the third and final day of bidding on Tuesday, Aug. 26. Investors applied for 95,53,53,000 shares against the 2,88,208 shares of offer, as per NSE data.
The Anondita Medicare IPO is a book-built issue of Rs 69.50 crore. It comprises a fresh issue of 48 lakh shares.
The price band for the IPO is set between Rs 137 and Rs 145 per share.
Anondita Medicare is a manufacturer of condoms and produces over 56 crore condoms annually.
Also Read: IPO GMP Today: Vikran Engineering Vs Anlon Healthcare; Check What Grey Market Premium Suggests
Classic Electrodes IPO GMP
The GMP for the Classic Electrodes IPO stood at Rs 17 on Aug. 26. The latest GMP indicates a listing price of Rs 104 apiece, at a premium of 19.45% compared to the upper limit of the issue price.
Shares of the company are expected to be listed on the NSE SME platform on Sept. 1.
The Classic Electrodes IPO was subscribed close to 180 times on the third and final day of bidding on Tuesday, Aug. 26. Investors applied for 56,68,16,000 shares against the 1,02,016 on offer.
The Classic Electrodes IPO is a book-built issue of Rs 41.51 crore. It comprises entirely a fresh issue of 48 lakh shares.
The price band for the IPO is set between Rs 82 and Rs 87 per share.
The company is a leading electrodes manufacturer. Its products include stainless steel electrodes, cast iron electrodes and deep penetration electrodes.
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.
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