Listing Day Gains Around The Corner — What GMP Of Mamata Machinery, DAM Capital And More Indicates
The grey market premium of Mamata Machinery and DAM Capital Advisors has cooled off since closing day, while Concord Enviro Systems saw a notable rise.
(Photo Source: Meta AI)
India's primary market is gearing up for the listing of five mainboard initial public offerings on Friday—and their grey market premiums point to a bumper listing.
The highest grey market premium in the list is for Mamata Machinery Ltd.'s IPO, which was subscribed over 190 times on its final day of subscription. According to InvestorGain data, Mamata Machinery's shares are set to hit the national exchanges at a staggering 104% premium over its IPO price.
Here's what the GMP trends of the five IPOs indicate ahead of their listing on Friday:
Mamata Machinery IPO GMP
The grey market premium of Mamata Machinery's IPO slipped marginally to Rs 255 at 7:58 a.m. on Dec. 26. This takes the estimated listing price to Rs 498 per share, which suggests that investors may log a profit of 104.94% after the company makes its market debut.
Mamata Machinery's offer was widely oversubscribed by its final day, garnering 194.95 the bids.
DAM Capital Advisors IPO GMP
The grey market premium of DAM Capital Advisors IPO, though down from its highest value at Rs 170, showed gains as the issue heads for listing. The GMP stood at Rs 155 per share at 8:32 a.m. on Thursday, according to the InvestorGain platform. This takes the estimated listing price — the sum of GMP and the upper end of the IPO price — to Rs 438 per share, which suggests a potential listing day gain of 54.77%.
The offer was subscribed 82.08 times on its final day of bidding.
Transrail Lighting IPO GMP
The grey market premium of Transrail Lighting IPO stood at Rs 175 per share at 7:24 a.m. on Thursday. This takes the estimated listing price — the sum of GMP and the upper end of the IPO price — to Rs 607 per share, which suggests a potential listing day gain of 40.51% - according to the InvestorGain platform.
The IPO was subscribed over 80 times, as per the consolidated data shared by the BSE.
ALSO READ
Shah Rukh Khan, Amitabh Bachchan-Backed Lotus Developers Files For Rs 792-Crore Maiden Offer
Sanathan Textiles IPO GMP
The grey market premium of Sanathan Textiles IPO showed notable gains from its value on closing day as it stood at Rs 93 as of 8:58 a.m., indicating a potential gain of 28.97%. This suggests an estimated listing price of Rs 414 for the company.
The GMP of Sanathan Textiles is among the two of the five to rise after the IPOs closed for subscription, according to InvestorGain.
The overall subscription of the IPO stood at 36.9 times on Monday.
Concord Enviro Systems IPO GMP
The grey market is bullish on the wastewater treatment company. The GMP stood at Rs 134 as of 9:23 a.m., taking the estimated listing price to Rs 835. This could result in a potential gain of 19.12% for the IPO share allottees after the company gets listed.
Concord Enviro Systems IPO GMP was Rs 55 when the issue closed for bidding on Monday. Ahead of listing, the GMP trends have shown an upwards trajectory.
The overall subscription for Concord Enviro Systems' IPO crossed 10 times, according to BSE data.
Note: GMP is not an official price quote for the stock and is based on speculation.
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.
