Gem Aromatics IPO, Shreeji Shipping IPO, Vikram Solar IPO: What Does GMP Signal Ahead Of Allotment On Aug. 22
The current grey market premium trends suggest an estimated listing gain as much as 20% 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 will close for subscription On August 21.
The four mainboard issues that opened for subscription on August 19 were fully subscribed on the first day (Tuesday).
As bidding for these four IPOs concludes today, 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 40 as of 2:00 p.m. on August 21. The latest GMP indicates a listing price of Rs 292 (Rs 252 + Rs 40) apiece, at a premium of 15.87% compared to the upper limit of the issue price. This means that the unlisted shares of the company were trading at Rs 292 on the grey market.
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 has been fixed between Rs 240 and Rs 252 per share.
Investors can bid for at least a single lot size of 58 shares and in multiples thereof.
The allotment status for the IPO is expected to be finalised on August 22. Shares of Shreeji Shipping Global are expected to be listed on the BSE and NSE on August 26.
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.
Day 3 Subscription Status: IPO has been booked 29.47 times as of 2:51 p.m. on the final day.
Day 2 Subscription Status: The IPO for Shreeji Shipping Global was subscribed 6.59 on Wednesday. It received bids for 7,51,80,354 shares against 1,14,08,600 shares offered.
Qualified Institutional Buyers: 2.59 times
Non-Institutional Investors: 11.22 times
Retail Individual Investors: 6.99 times
Gem Aromatics IPO GMP Today
According to InvestorGain, the GMP for the Gem Aromatics IPO stood at Rs 29 as of 2:00 p.m. on August 21. It indicates a listing price of Rs 354 (Rs 325 + Rs 29) per share at a premium of 8.92% over the upper limit of the IPO price band. This means that the unlisted shares of the company were trading at Rs 354 on the grey market.
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 has been fixed between Rs 309 and Rs 325 per share.
Investors can bid for at least a single lot size of 46 shares and in multiples thereof.
The allotment status for the IPO is expected to be finalised on August 22. Shares of Gem Aromatics are expected to be listed on the BSE and NSE on August 26.
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.
Day 3 Subscription Status: IPO has been booked 15.89 times as of 2:51 p.m. on the final day.
Day 2 Subscription Status: The Gem Aromatics IPO was subscribed 2.90 times on August 20. It received bids for 2,83,51,410 shares against 97,82,363 shares offered.
Qualified Institutional Buyers: 1.54 times
Non-Institutional Investors: 3.95 times
Retail Individual Investors: 3.19 times
Vikram Solar IPO GMP Today
The GMP for the Vikram Solar IPO stood at Rs 45 as of 2:30 p.m. on August 21. The latest GMP indicates a listing price of Rs 377 (Rs 332 + Rs 45) apiece, at a premium of 13.55% compared to the upper limit of the issue price. This means that the unlisted shares of the company were trading at Rs 377 on the grey market.
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 has been fixed between Rs 315 and Rs 332 per share.
Investors can bid for at least a single lot size of 45 shares and in multiples thereof.
The share allotment status for the issue is expected to be finalised on August 22. Shares of Vikram Solar are expected to be listed on the BSE and NSE on August 26.
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.
Day 3 Subscription Status: IPO has been booked 24.05 times as of 2:51 p.m. on the final day.
Day 2 Subscription Status: The IPO for Vikram Solar was subscribed 4.56 times on Wednesday. It received bids for 20,70,74,925 shares against 4,53,61,650 shares offered.
Qualified Institutional Buyers: 0.11times
Non-Institutional Investors: 13.01 times
Retail Individual Investors: 3.47 times
Employee Quota: 2.36 times
Patel Retail IPO GMP Today
According to InvestorGain, the GMP for the Patel Retail IPO stood at Rs 50 as of 2:00 p.m. on August 21. It indicates a listing price of Rs 305 (Rs 255 + Rs 50) apiece at a premium of 19.61% over the upper limit of the IPO price band. This means that the unlisted shares of the company were trading at Rs 305 on the grey market.
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 is set between Rs 237 and Rs 255 per share.
Investors can bid for at least a single lot size of 58 shares and in multiples thereof.
The share allotment status for the issue is proposed to be finalised on August 22. Shares of Patel Retail will be listed on the BSE and NSE on August 26.
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.
Day 3 Subscription Status: IPO has been booked 58.45 times as of 2:50 p.m. on the final day.
Day 2 Subscription Status: The Patel Retail IPO was subscribed 19.48 times on August 20. It received bids for 15,22,78,014 shares against 78,15,612 offered.
Qualified Institutional Buyers: 17.16 times
Non-Institutional Investors: 26.10 times
Retail Individual Investors: 16.55 times
Employee Quota: 9.56 times
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.
