Quadrant Future Tek, Delta Autocorp Among Four Listings On Jan. 14; Expected Share Price As Per IPO GMP
Quadrant Future Tek IPO GMP drops to 36% ahead of tomorrow's listing.
As many as four companies, which launched their initial public offerings last week, are set to get listed on the stock exchanges on Tuesday. Shares of BR Goyal Infrastructure Ltd., Avax Apparels And Ornaments Ltd., Delta Autocorp Ltd. and Quadrant Future Tek Ltd. are scheduled to list on the stock exchanges on Jan. 14 after a successful subscription and share allotment.
Will these IPOs list at a premium or discount? Here’s what the grey market premium (GMP) on the issues suggests.
Quadrant Future Tek IPO GMP
Quadrant Future Tek IPO aims to raise Rs 290 crore through fresh issuance of 1 crore shares. The mainboard issue offered shares at a price band of Rs 275 to Rs 290 apiece. Quadrant Future Tek IPO was subscribed 195.96 times over the three days of bidding from Jan. 7 to Jan. 9.
Ahead of its listing, Quadrant Future Tek IPO GMP was recorded at Rs 105 on Jan. 13, implicating a listing gain of 36.21% over the issue price. The shares may list at Rs 395 apiece on BSE and NSE.
Delta Autocorp IPO GMP
NSE SME issue Delta Autocorp IPO was subscribed 342.1 times during its bidding period. The issue, aimed at raising Rs 54.6 crore, had a price band of Rs 123 to Rs 130 per share.
Delta Autocorp IPO GMP, a day before listing, was Rs 105 as of 6:59 p.m. on Jan. 13, projecting a listing gain of 80.77%. Shares of the company are expected to debut at Rs 235 apiece on the NSE SME platform, Emerge.
Avax Apparels And Ornaments IPO GMP
Avax Apparels And Ornaments IPO is a BSE SME issue of 2.74 lakh shares worth Rs 1.92 crore, each priced at Rs 70 apiece. The public offer received a strong response from investors, who booked 260.42 times the shares on sale.
A day before listing, Avax Apparels And Ornaments IPO GMP was Rs 10 as of 5:32 p.m. on Jan. 13. This means that the shares may list at Rs 80 on the BSE, with a premium of 14.29%.
BR Goyal Infrastructure IPO GMP
Shares of BR Goyal Infrastructure Ltd., offered at a price band of Rs 128 to Rs 135 apiece, will list on the BSE on Jan. 14. The Rs 85.21-crore IPO was subscribed 118.08 times over the three days of bidding.
B.R.Goyal Infrastructure IPO GMP stood at Rs 9 as of 6:29 pm on Jan. 13, dropping drastically from Rs 35 on the day of share allotment. Going by the current trends, the shares of the company may list at Rs 144 apiece, with a gain of 6.67% on the BSE SME.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
