IPO GMP: PhysicsWallah And Emmvee Photovoltaic Power IPO Headed For Muted Gains Ahead Of Listing?
The unlisted shares of Physics Wallah and Emmvee Photovoltaic Power were trading flat in the private market. Will these IPOs list at a discounted price? Here's all you need to know.
The initial public offerings (IPOs) of PhysicsWallah Ltd. and Emmvee Photovoltaic Power Ltd. continued to see a muted response from investors on the third and final day of subscription on November 13. Both the mainboard IPOs, launched on November 11, have struggled to garner investor demand on the first two days of bidding.
According to the BSE data, PhysicsWallah's IPO was fully subscribed (1.23 times) as of 2:45 p.m. on the last day of bidding on Thursday, while the Emmvee Photovoltaic Power's IPO was booked 0.63 times.
On the final day of subscription, investors are also keeping a close watch on the grey market premium (GMP) trends to gauge potential listing prices for both the active mainboard issues.
Physics Wallah IPO GMP
The grey market premium (GMP) for the PhysicsWallah IPO stood at Rs as of 2:00 p.m. on November 13, according to InvestorGain. Based on the upper end of the price band of Rs 109, the latest GMP indicates an estimated flat listing.
The PhysicsWallah IPO is a book-built issue worth Rs 3,480 crore, comprising both fresh shares and an offer-for-sale (OFS) component. The fresh issue involves 28.44 crore shares, worth Rs 3,100 crore, while the OFS segment includes 3.49 crore shares, amounting to Rs 380 crore.
The price band for the IPO has been set at Rs 103 and Rs 109 per share. A single lot consists of 137 shares, requiring a minimum investment of Rs 14,933 by retail investors.
The IPO was subscribed 1.25 times on Thursday, so far.
The basis of allotment for the PhysicsWallah IPO is expected to be finalised on November 14. The company will process refunds and transfer shares to the Demat accounts on November 17.
Shares of PhysicsWallah are tentatively scheduled to be listed on the BSE and NSE on November 18.
PhysicsWallah is an edtech company that provides test-preparation courses for exams like JEE, NEET, and UPSC, along with upskilling programmes in data science, banking and finance, and software development.
Emmvee Photovoltaic Power IPO GMP
The grey market premium (GMP) for the Emmvee Photovoltaic IPO stood at Rs 3 as of 10:00 a.m. on November 13. Compared to the upper end of the IPO price band of Rs 217, the latest GMP suggests an estimated listing price of Rs 220, a 1.38% premium per share.
About Emmvee Photovoltaic Power IPO
The Emmvee Photovoltaic IPO is a book-building issue worth Rs 2,900 crore. The IPO comprises a fresh issue of 9.88 crore shares, aggregating to Rs 2,143.86 crore, and an OFS component of 3.48 crore shares, worth Rs 756.14 crore.
The price band for the IPO has been set at Rs 206 and Rs 217 per share. Each lot contains 69 shares, requiring a minimum investment of Rs 14,973 by retail investors.
The IPO was subscribed 0.66 times on Thursday, so far.
Emmvee Photovoltaic Power is expected to finalise IPO share allotment status on November 14. Refunds and the credit of shares to Demat accounts will be initiated on November 17.
The company’s shares are tentatively scheduled to be listed on the BSE and NSE on November 18.
Founded in March 2007, Emmvee Photovoltaic Power Ltd. is an integrated manufacturer of solar PV modules and cells. The company operates four manufacturing units across two locations in Karnataka, totalling an area of 22.44 acres.
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.
