Leela Hotels IPO Vs Aegis Vopak IPO: What GMP Signals Ahead Of Allotment Today

IPO Grey Market Premiums Comparison: The IPO market has come alive once again with the launch of four major offerings from Schloss Bangalore Ltd. (Leela Hotels Ltd.), Aegis Vopak Terminals Ltd., Prostarm Infosystems Ltd. and Scoda Tubes Ltd. This week has also seen the launch of five SME IPOs, and one more will launch on Friday, May 30.

Out of the four mainboard IPOs, the initial public offerings of Leela Hotels and Aegis Vopak Terminals concluded their subscription on May 27.

According to the latest Grey Market Premium (GMP) trends, both these IPOs can expect a slight jump when the shares of these companies list on the bourses next week. The GMP for Aegis Vopak has been witnessing a downward trend since the IPO opened for subscription on May 26. A similar trend was observed for the Leela Hotels IPO, where the GMP dropped a day before its conclusion, but saw a slight gain on the last day.

As per InvestorGain, the latest GMP for the Aegis Vopak Terminals IPO stood at Rs 1 at 10:31 a.m. on May 29. This means that the unlisted shares of the company were trading at Rs 236 a piece. Investors who have bid for the issue can look forward to an expected percentage gain of 0.43% when the company gets listed next week, assuming the current GMP trends stay the same.

The Aegis Vopak Terminals IPO concluded its subscription on Wednesday which saw the mainboard issue being booked 2.09 times. The surge in demand was led by Qualified institutional investors who bid 3.3x times against the number of shares offered.

The share allotment status for Aegis Vopak Terminals will be finalised on May 29, and the shares will list on BSE and NSE on Monday, June 2.

The Aegis Vopak Terminals IPO is a book-building issue worth Rs 2,800 crore, comprising entirely a fresh issue of 11.91 crore shares. The company has set a price band of Rs 223 to Rs 235 per share for its Rs 2,800-crore initial public offering.

As per InvestorGain, the latest GMP for the Schloss Bangalore operated Leela Hotels was Rs 6 at 10:02 a.m. on May 29. This indicates that the unlisted shares of the company were trading at Rs 441 a piece. Investors who have bid for the issue can look forward to an expected gain of 1.38% when the company gets listed next week, assuming the current GMP trends stay the same.

The initial public offering of the luxury hotel chain that closed for subscription on Wednesday saw a surge in demand on its final day, with the IPO getting subscribed 4.5 times. Leela Hotels IPO allotment status will be finalised on May 29 and shares of the company will list on the bourses on June 2. Leela Hotels aims to raise Rs 3,500 crore through the IPO.

Also Read: Prostarm IPO vs Scoda Tubes IPO GMP Compared

It should be noted that GMP or grey market price is not an official price quote for the stock and is based on speculation.