IPO GMP: Sudeep Pharma Vs Excelsoft Technologies – What Does Grey Market Trends Suggest Ahead Of Listing

Following the recent IPO buzz, the Indian stock market is expected to witness only a couple of mainboard IPO listings this week.

Investors are closely monitoring the grey market premiums (GMPs) of two initial public offerings (IPOs) this week: Excelsoft Technologies Ltd. and Sudeep Pharma Ltd. The subscription for Excelsoft Technologies IPO concluded on Friday, while the subscription for Sudeep Pharma IPO will conclude on Tuesday.

Here's what the latest grey market trends suggest for these two IPO's ahead of thier listing on the BSE and NSE this week.

According to InvestorGain, the last grey market premium (GMP) for the Excelsoft Technologies IPO stood at Rs 8 as of 11:30 a.m. on November 24. With the upper end of the IPO’s price band of Rs 120, the estimated listing price stands at Rs 128 (cap price plus today’s GMP), indicating an expected gain of 6.67% per share.

The Excelsoft Technologies IPO is a Rs 500-crore book-building issue. It comprises a fresh issue of 1.5 crore shares worth Rs 180 crore and an offer-for-sale (OFS) of 2.67 crore shares, aggregating Rs 320 crore. The price band for the Excelsoft Technologies IPO was set at Rs 114 to Rs 120 per share.

According to BSE, investors bid for 1,325,908,625 shares against the 30,701,754 on offer, resulting in an overall subscription of 43.19 times.

The allotment for Excelsoft Technologies IPO is scheduled to be finalised today. Refunds are expected to be initiated on November 25, and shares will also be credited to investors’ demat accounts on the same day. The IPO listing date has been tentatively fixed as November 26. The shares will be listed on the BSE and NSE.

Founded in 2000, Excelsoft Technologies Ltd. offers AI-powered applications, test and assessment platforms, and online proctoring solutions. It also provides learning experience platforms, student success platforms, and digital eBook platforms. The company caters to a diverse range of clients, including educational publishers, universities, schools, government agencies, defence organisations and businesses. It has operations in India, Malaysia, Singapore, the UK and the United States.

The grey market premium (GMP) for the Sudeep Pharma IPO stood at Rs 112, as of 11:30 a.m. on November 24, according to InvestorGain. Considering the upper end of the price band of Rs 593, the IPO’s estimated listing price stands at Rs 705 per share. The latest GMP indicates an expected listing gain of 18.89% per share.

According to BSE, investors have bid for 3,14,00,525 shares against the 1,05,64,926 on offer, resulting in an overall subscription of 2.97 so far on Monday.

Sudeep Pharma IPO is a book-built issue worth Rs 895 crore. It includes a fresh issue of 16 lakh shares amounting to Rs 95 crore, along with an offer-for-sale of 1.35 crore shares aggregating to Rs 800 crore.

The price band for Sudeep Pharma IPO has been set at Rs 563 to Rs 593 per share.

The subscription window for the Sudeep Pharma IPO is open from November 21 to November 25. The IPO share allotment is expected to be finalised on November 26. Refunds and credits to investors’ demat accounts are likely to be initiated on November 27. The IPO listing date has been tentatively scheduled for November 28. Shares of Sudeep Pharma will be listed on the BSE and NSE.

Sudeep Pharma Ltd. was incorporated in 1989. It manufactures pharmaceutical excipients, food-grade minerals and specialty nutrition ingredients. The company serves customers in over 100 countries. It has six manufacturing facilities with a total production capacity of 50,000 MT. The company offers more than 200 products to clients in the pharmaceutical, food, and nutrition sectors.

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.