IPO GMP Today: Studds Accessories Vs Orkla India — Check Latest Grey Market Trends
The grey market premium for the mainboard offers indicates listing gains of around 10-11% when the shares debut on the market this week.
The primary market will see the debut of two mainboard IPOs this week, Studds Accessories and Orkla India. The initial public offering of the latter (Orkla) concluded its subscription process on Friday, October 31, whereas the IPO of Studds Accessories will complete its subscription period today (November 3).
Ahead of their listing this week, the grey market premium for the two IPOs indicate a favorable listing with the shares expected to list at a premium over the upper end of the IPO price band.
Here's what the latest GMP trends indicate for the mainboard offerings of Studds Accessories and Orkla India on Monday, November 3.
Studds Accessories IPO GMP Today
The latest GMP for the Studds Accessories IPO was Rs 57, as of 2 p.m. on November 3. With an upper price band of Rs 585, the estimated listing price is Rs 642. This indicates an expected listing gain of 9.74% per share for investors.
Note: GMP does not represent official data and is based on speculation.
Orkla India IPO GMP Today
The latest GMP for the Orkla India IPO was Rs 75 as of 2:00 p.m. on November 3. With an upper price band of Rs 730, the estimated listing price for the shares of Orkla India is Rs 805, indicating an expected gain of 10.27% per share.
Studds Accessories IPO: All You Need To Know
Studds Accessories Ltd. IPO of Rs 455.49 crore, is an entirely an offer for sale of 0.78 crore shares.
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.
Studds Accessories Ltd. is expected to finalise the IPO share allotment status on Tuesday, November 4. Shares of Studds Accessories Limited are scheduled to be listed on the BSE and NSE on Friday, November 7.
The IPO was booked close to 30 times on Monday with investors bidding for 16,29,05,675 shares against the 54,50,284 on offer.
The IPO was booked 5.08 times on Friday
QIBs: 0.04 times
NIIs: 9.62 times
RIIs: 6.02 times
Orkla India IPO: All You Need To Know
Orkla India Ltd. IPO was worth Rs 1,667.54 crore. It was entirely an offer for sale of 2.28 crore shares. The price band for this IPO was set at Rs 695-Rs 730 per share.
The initial public offering of Orkla India Ltd. was booked 48.73 times on the final day of bidding on Friday.
Overall, the IPO attracted bids for 77.97 crore shares against 1.6 crore shares on offer, as per the BSE data.
Retail investors could 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 could apply for a minimum of 280 shares, costing Rs 2,04,400 at the upper end. Qualified institutional buyers needed 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 concluded on Friday. The Orkla India IPO share allotment status is likely to be finalised on November 3 and the listing is anticipated on NSE and BSE on November 6.
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.
