⁠IPO GMP: Anand Rathi Vs Seshaasai Technologies In Focus Today – Check Latest Grey Market Trends

The initial public offerings (IPOs) of Anand Rathi Share & Stock Brokers Ltd. and Seshaasai Technologies Ltd. opened for subscription on Tuesday, September 23. Both IPOs have been trading at a premium in the grey market (GMP), suggesting potential listing gains for investors.

The subscription period for both IPOs will close on September 25. With investor interest building, the grey market premium (GMP) has become a key focus.

Here’s a look at what the latest GMP trends indicate for these offerings.

The grey market premium (GMP) for Anand Rathi Share IPO was Rs 32, as of 11.35 a.m. on September 23. With the upper end of the price band at Rs 414, the IPO’s estimated listing price is Rs 446 (cap price plus today’s GMP), indicating an expected listing gain of 7.73% per share.

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

According to BSE, as of 12:12 p.m. on September 23, the Anand Rathi Share IPO was subscribed 0.17 times.

The Anand Rathi Share IPO is a book-built issue of Rs 745 crore, consisting entirely of a fresh issue of 1.8 crore shares. The price band for the IPO has been set between Rs 393 and Rs 414 per share. Nuvama Wealth Management Ltd. is the book-running lead manager, while MUFG Intime India Pvt. Ltd. is the registrar for the issue.

The tentative allotment for the Anand Rathi Share IPO is scheduled for Friday, September 26, with refunds and credit of shares to demat accounts expected on Monday, September 29. The IPO is tentatively slated to list on the BSE and NSE on Tuesday, September 30.

Anand Rathi Share and Stock Brokers Ltd., incorporated in 1991, is a brokerage firm. The company provides broking services, margin trading and financial product distribution under the ‘Anand Rathi’ brand, helping clients invest in equities, derivatives, commodities and currency markets.

The grey market premium (GMP) for Seshaasai Technologies IPO was Rs 85 at 11:35 a.m. on September 23. Considering the upper end of the IPO’s price band of Rs 423, the estimated listing price is Rs 508 (cap price plus today’s GMP), implying an expected listing gain of around 20.09% per share.

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

As of 12:12 p.m. on September 23, the Seshaasai Technologies IPO was subscribed 0.35 times, according to BSE.

The Seshaasai Technologies IPO is a book-built issue of Rs 813.07 crore. In includes a fresh issue of 1.13 crore shares totalling Rs 480 crore and an offer-for-sale of 79 lakh shares amounting to Rs 333.07 crore. The price band for the IPO has been set at Rs 402 to Rs 423 per share. IIFL Capital Services Ltd. is the book running lead manager and MUFG Intime India Pvt. Ltd. is the IPO’s registrar.

The tentative allotment date for the Seshaasai Technologies IPO is Friday, September 26. Refunds and credit of shares to demat accounts are expected on Monday, September 29. The IPO is tentatively set to list on the BSE and NSE on Tuesday, September 30.

Seshaasai Technologies Ltd., founded in 1993, is a technology-driven solutions provider. The company specialises in payment solutions, communications and fulfilment services, mainly for the banking, financial services and insurance (BFSI) sector. The company also provides IoT solutions to customers across various industries.

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.