IPO GMP, Subscription Today: Check Mangal Electrical vs Gem Aromatics vs Shreeji Shipping Global vs Others
The current grey market premium trends suggest an estimated listing gain as much as 20% when these mainboard issues list on the stock market next week.
The initial public offerings (IPOs) of Mangal Electrical Industries, Gem Aromatics, Shreeji Shipping Global, Patel Retail and Vikram Solar opened for subscription this week.
The Rs 400 crore IPO of Mangal Electrical Industries opened for subscription on August 20, whereas the remaining four mainboard issues opened for subscription on August 19.
After a blockbuster listing of Regaal Resources, which saw its stock list at 39% premium, all eyes are on the respective grey market premiums (GMP) of these five issues. The GMP trends can give investors an idea of how the unlisted shares are trading on the private market and at what share price these stocks can list on the bourses next week.
Here’s a look at what the latest grey market premium (GMP) indicates for these IPOs.
Mangal Electrical IPO GMP Today
According to InvestorGain, the GMP for the Mangal Electrical IPO stood at Rs 35 as of 2:30 p.m. on August 20. It indicates a listing price of Rs 596 (Rs 561+ Rs 35) apiece at a premium of 6.24% over the upper limit of the IPO price band. This means that the unlisted shares of the company were trading at Rs 596 on the grey market.
About Mangal Electrical Industries IPO
The Rs 400-crore IPO comprises of fresh issue of 71 lakh equity shares, with no offer-for-sale component.
The IPO will remain open for subscription till August 22.
The price band is in the range of Rs 533 to Rs 561 per equity share with a face value of Rs 10.
Investors can bid for at least a single lot size of 26 shares and in multiples thereof.
Systematix Corporate Services Ltd. is the book-running lead manager for the issue, while Bigshare Services Pvt. Ltd. is the registrar to the offer.
The allotment of shares is proposed to be finalised on August 25. Shares of Mangal Electrical will be listed on the BSE and NSE on August 28.
The Jaipur-based integrated power infrastructure company is engaged in manufacturing transformers and processing transformer components
Day 1 Subscription Status: The Mangal Electrical IPO was subscribed 0.34 times as of 3:00 p.m. on August 20. It received bids for 17,94,364 shares against 52,53,301 offered.
Gem Aromatics IPO GMP Today
According to InvestorGain, the GMP for the Gem Aromatics IPO stood at Rs 26 as of 2:00 p.m. on August 20. It indicates a listing price of Rs 351 (Rs 325 + Rs 26) per share at a premium of 8% over the upper limit of the IPO price band. This means that the unlisted shares of the company were trading at Rs 351 on the grey market.
About Gem Aromatics IPO
The Gem Aromatics IPO is a book build issue of Rs 451.25 crore. It consists of a fresh issue of 54 lakh shares worth Rs 175 crore and an offer-for-sale (OFS) of 85 lakh shares worth Rs 276.25 crore.
The IPO will remain open for subscription till August 21.
The price band for the IPO has been fixed between Rs 309 and Rs 325 per share.
Investors can bid for at least a single lot size of 46 shares and in multiples thereof.
Motilal Oswal Investment Advisors Ltd. is the book-running lead manager for the issue, while Kfin Technologies Ltd. is the registrar to the offer.
The allotment of shares is proposed to be finalised on August 22. Shares of Gem Aromatics are proposed to be listed on the BSE and NSE on August 26.
The company manufactures products such as essential oils and aroma chemicals. Its products are used in industries such as pharmaceuticals, cosmetics and personal care.
Day 2 Subscription Status: The Gem Aromatics IPO was subscribed 2.33 times as of 1:42 p.m. on August 20. It received bids for 2,27,87,618 shares against 97,82,363 shares offered.
Shreeji Shipping Global IPO GMP Today
The GMP for the Shreeji Shipping Global IPO was Rs 33 as of 2:30 p.m. on August 20. The latest GMP indicates a listing price of Rs 285 (Rs 252 + Rs 33) apiece, at a premium of 13.10% compared to the upper limit of the issue price. This means that the unlisted shares of the company were trading at Rs 285 on the grey market.
About Shreeji Shipping Global IPO
The Shreeji Shipping Global IPO is a book build issue of Rs 410.71 crore. It comprises entirely a fresh issue of 1.63 crore shares worth Rs 410.71 crore.
The IPO will remain open for subscription till August 21.
The price band for the IPO has been fixed between Rs 240 and Rs 252 per share.
Investors can bid for at least a single lot size of 58 shares and in multiples thereof.
Beeline Capital Advisors Pvt.Ltd. is the book-running lead manager and Bigshare Services Pvt. Ltd. is the registrar of the issue.
Share allotment is proposed to be finalised on August 22. Shares of Shreeji Shipping Global are proposed to be listed on the BSE and NSE on August 26.
The company is in the business of providing shipping and logistics solutions.
Day 2 Subscription Status: The IPO for Shreeji Shipping Global was subscribed 5.37 times as of 3:00 p.m. on Wednesday. It received bids for 6,13,18,412 shares against 1,14,08,600 shares offered.
Vikram Solar IPO GMP Today
The GMP for the Vikram Solar IPO stood at Rs 48 as of 2:30 p.m. on August 20. The latest GMP indicates a listing price of Rs 380 (Rs 332 + Rs 48) apiece, at a premium of 14.46% compared to the upper limit of the issue price. This means that the unlisted shares of the company were trading at Rs 380 on the grey market.
About Vikram Solar IPO
The Vikram Solar IPO is a book build issue of Rs 2,079.37 crore. It comprises a fresh issuance of 4.52 crore shares worth Rs 1,500 crore and an offer-for-sale (OFS) of 1.75 crore shares aggregating to Rs 579.37 crore.
The IPO will remain open for subscription till August 21.
The price band for the IPO has been fixed between Rs 315 and Rs 332 per share.
Investors can bid for at least a single lot size of 45 shares and in multiples thereof.
JM Financial Ltd. is the book-running lead manager and MUFG Intime India Pvt. Ltd. is the registrar of the issue.
Share allotment is proposed to be finalised on August 22. Shares of Vikram Solar are proposed to be listed on the BSE and NSE on August 26.
The company is one of the leading manufacturers of solar panels in India.
Day 2 Subscription Status: The IPO for Vikram Solar was subscribed 3.81 times as of 3:00 p.m. on Wednesday. It received bids for 17,26,22,385 shares against 4,53,61,650 shares offered.
Patel Retail IPO GMP Today
According to InvestorGain, the GMP for the Patel Retail IPO stood at Rs 49 as of 2:00 p.m. on August 20. It indicates a listing price of Rs 304 (Rs 255 + Rs 49) apiece at a premium of 19.22% over the upper limit of the IPO price band. This means that the unlisted shares of the company were trading at Rs 304 on the grey market.
About Patel Retail IPO
The Patel Retail IPO is a book build issue of Rs 242.76 crore. It comprises a fresh issue of 85 lakh shares worth Rs 217.21 crore and an offer-for-sale (OFS) of 10 lakh shares aggregating to Rs 25.55 crore.
The IPO will remain open for subscription till August 21.
The price band for the IPO is set between Rs 237 and Rs 255 per share.
Investors can bid for at least a single lot size of 58 shares and in multiples thereof.
Fedex Securities Pvt. Ltd. is the book-running lead manager and Bigshare Services Pvt. Ltd. is the registrar of the issue.
The allotment of shares is proposed to be finalised on August 22. Shares of Patel Retail will be listed on the BSE and NSE on August 26.
Patel Retail is a retail supermarket chain with a primary focus on tier-III cities and suburban areas.
Day 2 Subscription Status: The Patel Retail IPO was subscribed 16.41 times as of 3:00 p.m. on August 20. It received bids for 12,82,78,948 shares against 78,15,612 offered.
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.
