IPO GMP: Wakefit vs Corona Remedies – Grey Market Trends On Day 1 Of Subscription
The current grey market trends suggests that the unlisted shares of Wakefit and Corona Remedies were trading at a premium of 18-27%.
The initial public offerings (IPOs) of Wakefit Innovations Ltd. and Corona Remedies Ltd. are attracting the attention of investors, with the grey market premiums (GMP) indicating potential listing gains. The IPOs of Wakefit Innovations Ltd. and Corona Remedies Ltd. were launched today, December 8.
Despite overall market volatility, the GMP trends for both IPOs have generated optimism among primary market investors ahead of their public listings.
Corona Remedies IPO GMP Today
The latest GMP for Corona Remedies IPO stood at Rs 290 per share on Monday, December 8. The GMP indicates a listing price of Rs 1,352 per share at a potential premium of 27.31% over the upper limit of the issue price of Rs 1,062 apiece.
Corona Remedies Ltd., a pharmaceutical company, develops, manufactures and markets products across multiple therapeutic segments. The company’s IPO, worth Rs 655.37 crore, is entirely an offer-for-sale of 62 lakh shares.
The price band for the Corona Remedies IPO has been fixed at Rs 1,008 to Rs 1,062 per share. A single lot size for the IPO comprises 14 shares. Retail investors are required to apply for at least a single lot size, amounting to an investment of Rs 14,868 per application based on the upper end of the issue price.
Bigshare Services Pvt. Ltd. is the issue registrar, while JM Financial Ltd. is the book-running lead manager for the IPO.
Wakefit IPO GMP Today
The latest GMP for Wakefit IPO was Rs 36 per share on December 8. With the upper price band of Rs 195, the estimated listing price stands at Rs 231 per share. The latest GMP indicates listing of shares at a premium of 18.46% over the upper limit of the issue price.
Wakefit Innovations Ltd. is a leading manufacturer of mattresses, furniture and home furnishings. The company’s Rs 1,288.89-crore IPO is a combination of a fresh issue of 1.93 crore shares, worth Rs 377.18 crore, and an offer-for-sale (OFS) of 4.68 crore shares, amounting to Rs 911.71 crore.
The price band for the IPO has been fixed at Rs 185 to Rs 195 per share and each lot size consists of 76 shares. Retail investors need to apply for at least a single lot size, amounting to a minimum investment of Rs 14,820 at the upper limit of the issue price per application.
Axis Capital Ltd. is the book-running lead manager and MUFG Intime India Pvt. Ltd. serves as the issue registrar.
Key IPO Datesw
Both the mainboard IPOs will remain open for subscription till December 10. Wakefit Innovations Ltd. and Corona Remedies Ltd. are expected to finalise share allotment on December 11. Refunds and transfer of shares to demat accounts will be initiated on December 12.
Shares of both companies are tentatively scheduled to be listed on the BSE and NSE on December 15.
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 financial advisors and read the red herring prospectus thoroughly before placing bids.
