GMP Today: Vikram Solar IPO, Patel Retail IPO, Shreeji Shipping IPO, Gem Aromatics IPO Conclude Subscription
The current grey market premium trends suggest an estimated listing gain as much as 19% when these mainboard issues list on the markets on Tuesday.
The initial public offerings (IPOs) of Gem Aromatics, Shreeji Shipping Global, Patel Retail and Vikram Solar concluded their subscription On August 21.
The four mainboard issues that opened for subscription on August 19 were fully subscribed on the first day (Tuesday). All the public issues recieved fantastic response from the investors with over 30 times subscription. The IPO of Patel Retail saw the highest subscripton of close 100 times.
Investors will be looking closely at the respective grey market premiums (GMP) of these public issues. The GMP trends can give investors an idea of how the unlisted shares are trading on the private market and at what share price these stocks can list on the bourses next week.
Here’s a look at what the latest grey market premium (GMP) indicates for these IPOs.
Shreeji Shipping Global IPO GMP Today
The GMP for the Shreeji Shipping Global IPO was Rs 34 as of 9:30 a.m. on August 23. The latest GMP indicates a listing price of Rs 286 (Rs 252 + Rs 34) apiece, at a premium of 13.49% compared to the upper limit of the issue price. This means that the unlisted shares of the company were trading at Rs 286 on the grey market.
The allotment status for the IPO was on August 22. Shares of Shreeji Shipping Global are expected to be listed on the BSE and NSE on August 26.
About Shreeji Shipping Global IPO
The Shreeji Shipping Global IPO is a book build issue of Rs 410.71 crore. It comprises entirely a fresh issue of 1.63 crore shares worth Rs 410.71 crore.
The price band for the IPO was fixed between Rs 240 and Rs 252 per share.
Beeline Capital Advisors Pvt.Ltd. is the book-running lead manager and Bigshare Services Pvt. Ltd. is the registrar of the issue.
The company is in the business of providing shipping and logistics solutions.
Gem Aromatics IPO GMP Today
The latest GMP for the Gem Aromatics IPO stood at Rs 28 as of 10:00 a.m. on August 23. It indicates a listing price of Rs 353 (Rs 325 + Rs 28) per share at a premium of 8.62% over the upper limit of the IPO price band. This means that the unlisted shares of the company were trading at Rs 353 on the grey market.
The allotment status for the IPO is was finalised on August 22. Shares of Gem Aromatics are expected to be listed on the BSE and NSE on August 26.
About Gem Aromatics IPO
The Gem Aromatics IPO is a book build issue of Rs 451.25 crore. It consists of a fresh issue of 54 lakh shares worth Rs 175 crore and an offer-for-sale (OFS) of 85 lakh shares worth Rs 276.25 crore.
The price band for the IPO was fixed between Rs 309 and Rs 325 per share.
Motilal Oswal Investment Advisors Ltd. is the book-running lead manager for the issue, while Kfin Technologies Ltd. is the registrar to the offer.
The company manufactures products, including essential oils and aroma chemicals. Its products are used in industries such as pharmaceuticals, cosmetics and personal care.
Vikram Solar IPO GMP Today
The GMP for the Vikram Solar IPO stood at Rs 39 as of 10:00 a.m. on August 23. The latest GMP indicates a listing price of Rs 371 (Rs 332 + Rs 39) apiece, at a premium of 11.75% compared to the upper limit of the issue price. This means that the unlisted shares of the company were trading at Rs 371 on the grey market.
The share allotment status for the issue is was finalised on August 22. Shares of Vikram Solar are expected to be listed on the BSE and NSE on August 26.
About Vikram Solar IPO
The Vikram Solar IPO is a book build issue of Rs 2,079.37 crore. It comprises a fresh issuance of 4.52 crore shares worth Rs 1,500 crore and an offer-for-sale (OFS) of 1.75 crore shares aggregating to Rs 579.37 crore.
The price band for the IPO was fixed between Rs 315 and Rs 332 per share.
JM Financial Ltd. is the book-running lead manager and MUFG Intime India Pvt. Ltd. is the registrar of the issue.
The company is one of the leading manufacturers of solar panels in India.
Patel Retail IPO GMP Today
According to InvestorGain, the GMP for the Patel Retail IPO stood at Rs 47 as of 10:00 a.m. on August 23. It indicates a listing price of Rs 302 (Rs 255 + Rs 47) apiece at a premium of 18.43% over the upper limit of the IPO price band. This means that the unlisted shares of the company were trading at Rs 302 on the grey market.
The share allotment status for the issue was finalised on August 22. Shares of Patel Retail will be listed on the BSE and NSE on August 26.
About Patel Retail IPO
The Patel Retail IPO is a book build issue of Rs 242.76 crore. It comprises a fresh issue of 85 lakh shares worth Rs 217.21 crore and an offer-for-sale (OFS) of 10 lakh shares aggregating to Rs 25.55 crore.
The price band for the IPO was set between Rs 237 and Rs 255 per share.
Fedex Securities Pvt. Ltd. is the book-running lead manager and Bigshare Services Pvt. Ltd. is the registrar of the issue.
Patel Retail is a retail supermarket chain with a primary focus on tier-III cities and suburban areas.
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.
