IPO GMP Today: Studds Accessories Vs Orkla India — GMP Gains Ahead Of Listing
The grey market premium for the mainboard offers indicates listing gains of around 10-12% when the shares debut on the bourses this week.
The primary market will see the debut of two mainboard IPOs this week: Studds Accessories and Orkla India.
Ahead of their listing this week, the grey market premium (GMP) for both IPOs indicates a favorable listing, with the shares expected to list at a premium over the upper end of the IPO price band.
Here are the latest GMP trends for the mainboard offerings of Studds Accessories and Orkla India on Tuesday, November 4.
Studds Accessories IPO GMP Today
The latest GMP for the Studds Accessories IPO was Rs 70 as of 8 a.m. on November 4. With an upper price band of Rs 585, the estimated listing price is Rs 655. This indicates an expected listing gain of 11.97% per share for investors.
This is the highest GMP recorded for the IPO since it opened for subscription on October 30, when the grey market premium was Rs 53.
Note: GMP does not represent official data and is based on speculation.
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Orkla India IPO GMP Today
The latest GMP for the Orkla India IPO was Rs 72 as of 8:00 a.m. on November 4. With an upper price band of Rs 730, the estimated listing price for the shares of Orkla India is Rs 802, indicating an expected gain of 9.86% per share.
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Studds Accessories IPO: All You Need To Know
Studds Accessories Ltd. IPO of Rs 455.49 crore was an entirely an offer for sale of 0.78 crore shares.
The price band for this IPO was set at Rs 557–Rs 585 per share.
The IPO was booked close to 73 times on Monday with investors bidding for 39,92,36,150 shares against the 54,50,284 on offer.
Each lot size consisted of 25 shares, which means that retail investors could apply with a minimum investment of Rs 13,925. Non-institutional investors could apply for a minimum of 350 shares, costing Rs 2,04,750 at the upper end. Qualified institutional buyers could 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.
Shares of Studds Accessories Limited are scheduled to be listed on the BSE and NSE on Friday, November 7.
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 was 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.
