IPO GMP Today: Canara Robeco vs Canara HSBC Life — Check Latest Grey Market Trends
The unlisted shares of Canara HSBC Life Insurance and Canara Robeco Asset Management were trading at premium, indicating favorable listing gains when the IPOs debut on the market next week.
The initial public offerings (IPOs) of Canara Robeco Asset Management Company and Canara HSBC Life Insurance Company will be concluded next week. While the subscription window for the Canara Robeco IPO opened on October 9, subscription for the Canara HSBC Life IPO will start on October 10. Here's a look at what the latest grey market premium (GMP) indicates for these IPOs.
Canara Robeco IPO GMP Today
According to InvestorGain, the GMP for the Canara Robeco IPO stood at Rs 28 per share as of 1:30 p.m. on October 10. It indicates a listing price of Rs 294 apiece at a premium of 10.53% over the upper limit of the IPO price band.
The Canara Robeco IPO is a book build issue of Rs 1,326.13 crore. It comprises an offer-for-sale (OFS) of 4.99 crore shares.
The price band for the IPO is set between Rs 253 and Rs 266 per share.
The subscription window for the IPO will be open till October 13.
The Canara Robeco IPO was subscribed 0.21 times on its opening day on Thursday and 0.4 times on Friday.
Share allotment status is expected to be finalised on October 14. Shares of Canara Robeco are tentatively scheduled to be listed on the BSE and NSE on October 16.
Canara Robeco Asset Management Company is an asset management firm. It is the investment manager for Canara Robeco Mutual Fund.
Canara HSBC Life IPO GMP Today
The GMP for the Canara HSBC Life IPO stood at Rs 5 per share as of 1:30 p.m. on October 10, according to InvestorGain. The latest GMP indicates a listing price of Rs 111 apiece, at a premium of 4.72% compared to the upper limit of the issue price.
The Canara HSBC Life IPO is a book build issue of Rs 2,517.5 crore. The issue is entirely an OFS of 23.75 crore shares.
The price band for the IPO is set between Rs 100 and Rs 106 per share.
Investors can bid for shares in the IPO from October 10-14. The allotment of shares is proposed to be done on October 15. Shares of Canara HSBC Life are expected to be listed on the BSE and NSE on October 17.
Canara HSBC Life Insurance is a private life insurance company. It is jointly promoted by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings Ltd.
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.
