Bumper Or Tepid Returns? What IPO GMP Of MobiKwik, Inventurus, IGI, Sai Life, Vishal Mega Mart Suggests
The grey market is bullish on the IPOs of One MobiKwik Systems and Inventurus Knowledge, whereas the GMP has slipped for Vishal Mega Mart, International Gemmological Institute and Sai Life Sciences.
A total of five initial public offerings in the mainboard segment were available for subscription on Friday. Among them, the grey market premium was strong on the IPOs of One MobiKwik Systems and Inventurus Knowledge, whereas the GMP signalled modest listing for Vishal Mega Mart, International Gemmological Institute and Sai Life Sciences.
This is the third and final day of subscription for the IPOs of three companies—MobiKwik, Sai Life, and Vishal Mega Mart. The price band for Vishal Mega Mart's offer is Rs 74-78 per share. MobiKwik's IPO has a price range of Rs 265-279 per share, and Sai Life Science's offer has a price band of Rs 522-549.
The IPOs of Inventurus and IGI were launched in the latter half of the week. Inventurus, whose subscription window opened on Thursday, has a price band of Rs 1,265 to Rs 1,329 per share. The offer will close on Monday.
Meanwhile, IGI's IPO opened on Friday with a price band of Rs 397 to Rs 417 per share. The last day to submit the bids is Tuesday.
Here's a look at what the latest IPO GMPs indicate:
Inventurus Knowledge IPO
The grey market premium remained steady after the IPO entered into its second day of subscription. The GMP stood at Rs 375 per share at 9:29 a.m., according to InvestorGain platform. This takes the estimated listing price—the sum of GMP and upper end of the IPO price—to Rs 1,704 per share, which suggests a potential listing day gain of 28.2%.
However, GMP is not an official price quote for the stock and is based on speculation.
Although the GMP is lower as compared to Rs 422 on Dec. 11, it is still significantly higher than the lowest GMP of Rs 225 on Dec. 8.
Inventurus IPO was subscribed 0.7 times as of 1:27 p.m., as per the consolidated data shared by the National Stock Exchange.
MobiKwik IPO
The grey market turned bullish on the fintech company after an overwhelming response to its public issue. The GMP reportedly stood at Rs 156 at 10:57 a.m.—the same as the previous day—taking the estimated listing price to Rs 435. This could result in a potential gain of 55.9% for the IPO share allottees after the company gets listed.
The GMP on MobiKwik's IPO has consistently risen from Rs 100 on Dec. 6 to Rs 156 after the issue opened for subscription, as per the data shared by InvestorGain.
As of 1:27 p.m., the overall subscription for MobiKwik's IPO crossed 46.5 times, according to NSE data.
International Gemmological Institute IPO GMP
The GMP edged lower as compared to the highs seen earlier this week, with investors showing a meek response to the issue so far. The grey market premium stood at Rs 75 per share, lower as compared to Rs 105 on Monday, as per InvestorGain. This takes the estimated listing price to Rs 492, suggesting a potential gain of 17% on the day of listing.
Notably, the IPO was subscribed 0.1 times till 1:36 p.m. The demand from institutional buyers was negligible.
Vishal Mega Mart IPO GMP
The grey market premium of Vishal Mega Mart's issue reportedly slipped to Rs 15 at 11:02 a.m., as compared to Rs 20 the previous day. This takes the estimated listing price to Rs 93 per share, which suggests that investors may log a profit of 19.2% after the company makes market debut.
The IPO has been subscribed 6.76 times as of 1:33 p.m., the NSE data showed.
Sai Life Science IPO GMP
The GMP of Sai Life's offer has consistently eroded since the IPO was opened from subscription. From Rs 39 on Wednesday, it slipped to Rs 15 as of 10:55 a.m. on Friday, according to InvestorGain. This suggests a potential muted market debut for the company, as the estimated listing price of Rs 564 is only 2.7% higher than the upper end of the issue price.
The overall subscription of the IPO stood at 2.81 times as of 1:36 p.m.
Notably, Vishal Mega Mart aims to raise Rs 8,000 crore via an entirely offer-for-sale issue, MobiKwik looks to mop up Rs 572 crore through a fresh issue of shares, and Sai Life Science's Rs 3,042-crore IPO comprises an OFS of Rs 2,092 crore and a fresh issue of Rs 950 crore.
IGI aims to raise up to Rs 4,225 crore through the IPO, which includes an OFS component of Rs 2,750 crore and a fresh issue of Rs 1,475 crore. Meanwhile, Inventurus' IPO comprises only an OFS of Rs 2,497.9 crore.
Note: GMP is not an official price quote for the stock 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.
