Three BSE SME IPOs, INDO SMC, GRE Renew Enertech and Narmadesh Brass Industries, are scheduled to list on January 21. A day before their market debut, investors are closely tracking the grey market premiums (GMPs) for all three issues.
The INDO SMC and GRE Renew Enertech IPOs were open for subscription from Jan. 13 to 16, while Narmadesh Brass Industries' bidding period lasted from Jan. 12 to 16.
All three SME IPOs are currently in focus among grey market traders, with current trends indicating potential gains for one of the issues, while two are expected to list flat based on the upper end of the IPO price band.
Here's what the latest GMP figures suggest.
INDO SMC IPO GMP
As of Jan. 20, the grey market premium (GMP) for the INDO SMC SME IPO was Rs 10, according to InvestorGain. With a price band of Rs 149, the IPO's estimated listing price is Rs 159, factoring in today's GMP. This implies an expected gain of 6.71% per share.
The INDO SMC IPO was a book-built issue of Rs 91.95 crore. It consisted entirely of a fresh issue of 62 lakh shares. The price band for the IPO was fixed at Rs 149 per share. The SME IPO was subscribed 102.83 times, led by demand from Non-Institutional Investors.
INDO SMC Ltd. is engaged in the design and manufacture of various products for electrical, industrial and infrastructural applications. The company has in-house testing laboratories to ensure quality standards and proper material composition. It operates four manufacturing facilities across Gujarat, Maharashtra and Rajasthan.
GRE Renew Enertech IPO GMP
According to InvestorGain, the last Grey Market Premium (GMP) for the GRE Renew Enertech SME IPO was Rs 0 on January 20. With a price band of Rs 105, the IPO is headed for a flat listing. The highest GMP recorded for the IPO was Rs 7 when it opened for subscription on January 12
The GRE Renew Enertech IPO was a book-built issue of Rs 39.56 crore, which comprised entirely of a fresh issue of 38 lakh shares. The SME IPO was subscribed 15.43 times, led by demand from Non-Institutional Investors.
GRE Renew Enertech Ltd. is a company specialising in solar energy solutions and LED lighting products. It provides rooftop and ground-mounted solar installations, along with indoor and outdoor LED lighting solutions. While the company originally focused on manufacturing LED lighting, it now primarily concentrates on the solar energy segment.
Narmadesh Brass Industries IPO GMP
The last grey market premium (GMP) for the Narmadesh Brass Industries SME IPO was Rs 0 on Jan. 20, according to InvestorGain. With a price band of Rs 515, the IPO's estimated listing price is also Rs 515, indicating no expected gain or loss on listing.
The Narmadesh Brass Industries IPO was a fixed-price issue of Rs 44.87 crore. The issue comprised a fresh issue of 7 lakh equity shares aggregating to Rs 36.09 crore, along with an offer-for-sale component of 2 lakh shares amounting to Rs 8.78 crore. The SME IPO was subscribed 1.25 times, led by demand from Non-Institutional Investors.
Narmadesh Brass Industries Ltd. is a brass manufacturing company based in Jamnagar, Gujarat. It specialises in the production of a wide range of brass products for both domestic and export markets.
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 with financial advisors and read the red herring prospectus thoroughly before placing bids.
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