IPO GMP Today: Orkla India vs Studds Accessories — Check Latest Grey Market Trends
With both issues in focus, investors are keenly observing their grey market premiums (GMP) to gauge market sentiment towards these companies.
Two mainboard initial public offerings (IPOs) are available for bidding this week, seeking to raise capital from the primary market. The ongoing active public issue of Orkla India Ltd. was launched on Oct. 29, while Studds Accessories IPO will hit the market on Thursday. With both issues in focus, investors are keenly observing their grey market premiums (GMP) to gauge market sentiment towards these companies.
Orkla India IPO GMP Today:
According to InvestorGain, the latest GMP for the Orkla India IPO was Rs 68 as of 11:36 a.m. on Oct. 30. With an upper price band of Rs 730, the estimated listing price for the shares of Orkla India is Rs 798, indicating an expected gain of 9.32% per share.
Studds Accessories IPO GMP Today
According to InvestorGain, the latest GMP for the Studds Accessories IPO was Rs 54, as of 11:02 a.m. on Oct. 30. With an upper price band of Rs 585, the estimated listing price is Rs 639. This indicates an expected gain of 9.23% per share for investors.
Note: GMP does not represent official data and is based on speculation.
Orkla India IPO Details:
Orkla India Ltd. has announced an IPO worth Rs 1,667.54 crore. It is entirely an offer for sale of 2.28 crore shares. The price band for this IPO has been set at Rs 695-Rs 730 per share.
Retail investors can participate in the IPO by applying for a minimum of one lot of 20 shares, requiring an investment of Rs 14,600 at the upper price. Non-institutional investors can apply for a minimum of 280 shares, costing Rs 2,04,400 at the upper end. Qualified institutional buyers need to apply for a minimum of 1,380 shares, costing Rs 10,07,400 at the upper price end. ICICI Securities is the lead manager, and Kfin Technologies is the registrar for this IPO.
The IPO opened for subscription on Wednesday and will conclude on Friday. The allotment of shares will likely be finalised by Nov. 3 and the listing is anticipated on NSE and BSE on Nov. 6.
On day 1 of launch, Orkla India Ltd. IPO’s QIB segment (excluding anchor investors) was largely undersubscribed at 0.02 times, with 80,280 shares bid against 45.62 lakh offered. The NII segment was fully subscribed at 1.53 times, with 52.20 lakh shares bid against 34.22 lakh offered.
Retail investors showed subdued interest at 0.90 times, with 71.58 lakh shares bid against 79.85 lakh offered. Employees showed strong demand at 3.27 times. Overall, the IPO was 0.78 times subscribed, with 1.25 crore shares bid against 1.6 crore shares offered.
As of 12:07 p.m. on Thursday, Orkla India IPO was subscribed 1.41 times.
Studds Accessories IPO Details
Studds Accessories Ltd. IPO of Rs 455.49 crore, which is an entirely an offer for sale of 0.78 crore shares, will open on Thursday. The price band for this IPO has been set at Rs 557–Rs 585 per share.
Each lot size consists of 25 shares, which means that retail investors can apply with a minimum investment of Rs 13,925. Non-institutional investors can apply for a minimum of 350 shares, costing Rs 2,04,750 at the upper end. Qualified institutional buyers can bid for at least 1,725 shares, costing Rs 10,09,125 investment at the upper price end.
IIFL Capital Services is the lead manager and MUFG Intime India is the registrar for this IPO.
The IPO will remain active for subscribe till Nov. 3 and its tentative listing date is likely to be Nov. 7 after the allotment of shares.
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.
