IPO GMP Today: GNG Electronics Vs Indiqube Spaces Vs Brigade Hotel Ventures — What Does Grey Market Signal?
The IPOs of GNG Electronics and Indiqube Spaces are open for subscription till July 25. Brigade Hotel Ventures IPO will close on July 28.
The initial public offerings (IPOs) of GNG Electronics, Indiqube Spaces and Brigade Hotel Ventures are in focus of the grey market traders amid the ongoing subscription.
While the IPOs of GNG Electronics and Indiqube Spaces IPOs are open for subscription till July 25, Brigade Hotel Ventures IPO will close on July 28.
Here’s a look at what the latest grey market premium (GMP) indicates for these IPOs.
GNG Electronics IPO GMP
According to InvestorGain, the GMP for the GNG Electronics IPO stood at Rs 100 per share as of 1:32 p.m. on July 24. It indicates a listing price of Rs 337 apiece at a premium of 42.19% over the upper limit of the IPO price band.
GNG Electronics IPO was subscribed over 20 times on the second day of bidding on July 24. The IPO received bids for 30,52,36,071 shares against 1,38,73,595 shares offered, as per the stock exchange data till 2:33 p.m.
The GNG Electronics IPO is a bookbuilding issue of Rs 460.43 crore. It comprises a fresh issue of 1.69 crore shares worth Rs 400 crore and an offer-for-sale of 26 lakh shares worth Rs 60.44 crore.
The price band for the IPO is set between Rs 225 and Rs 237 per share.
The allotment of shares is proposed to be finalised on July 28. Shares of GNG Electronics will be listed on the BSE and NSE on July 30.
GNG Electronics specialises in offering refurbished laptops and desktops to individuals, businesses and organisations.
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Indiqube Spaces IPO GMP
The GMP for the Indiqube Spaces IPO stood at Rs 14 as of 1:58 p.m. on July 24, according to InvestorGain. The latest GMP indicates a listing price of Rs 251 apiece, at a premium of 5.91% compared to the upper limit of the issue price.
The IPO for Indiqube Spaces was fully subscribed on the second day of bidding on Thursday. It received bids for 2,77,88,481 shares against 1,62,79,682 shares offered. The issue was booked 1.62 times as of 2:33 p.m. on July 24.
The Indiqube Spaces IPO is a book-building issue worth Rs 700 crore. It comprises a fresh issuance of 2.74 crore shares, amounting to Rs 650 crore, and an OFS portion of 21 lakh shares worth Rs 50 crore.
The price band for the IPO has been fixed between Rs 225 and Rs 237 per share.
Share allotment is proposed to be finalised on July 28. Shares of Indiqube Spaces are proposed to be listed on the BSE and NSE on July 30.
The Bengaluru-based company is engaged in providing workspace solutions.
Brigade Hotel Ventures IPO GMP
According to InvestorGain, the GMP for the Brigade Hotel Ventures IPO stood at Rs 8 as of 12:29 p.m. on July 24. It indicates a listing price of Rs 98 apiece at a premium of 8.89% over the upper limit of the IPO price band.
The Brigade Hotel Ventures IPO was subscribed 0.48 times on the first day of bidding as of 2:33 p.m. on July 24. It received bids for 2,44,41,840 shares against 8,44,29,103 shares offered.
The Brigade Hotel Ventures IPO is a book-building issue of Rs 759.6 crore. The IPO comprises entirely a fresh issuance of 8.44 crore shares.
The price band for the IPO has been fixed between Rs 85 and Rs 90 per share.
The allotment of shares is proposed to be finalised on July 29. Shares of Brigade Hotel Ventures are proposed to be listed on the BSE and NSE on July 31.
Brigade Hotel Ventures is a developer of hotels. It has a major presence in South India. It is a fully-owned subsidiary of Brigade Enterprises.
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.
