IPO GMP Comparison: Vikram Solar, Mangal Electrical, Patel Retail, Shreeji Shipping, Gem Aromatics
The current grey market premium trends suggest an estimated listing gain as much as 19% when these mainboard issues list on the markets on Tuesday.
The initial public offerings (IPOs) of four out of the five mainboard issues concluded their subscription on August 21. The share allotment status for Gem Aromatics, Shreeji Shipping Global, Patel Retail and Vikram Solar will be finalised on August 22. Mangal Electrical will finalise its share allotment status on August 25.
The four mainboard issues that opened for subscription on August 19 were fully subscribed on the first day (Tuesday). The IPO of Mangal Electrical Industries is the only mainboard issue which will conclude its subscription on Friday, August 22.
Investors will be closely monitoring the respective grey market premiums (GMP) of these public issues.
The GMP trends can give investors an idea of how the unlisted shares are trading on the private market and at what share price these stocks can list on the bourses next week.
Here’s a look at what the latest grey market premium (GMP) indicates for these IPOs.
Vikram Solar IPO GMP Today
The latest GMP for the Vikram Solar IPO was Rs 39 on August 22. The latest GMP indicates a listing price of Rs 371 (Rs 332 + Rs 39) apiece, at a premium of 11.75% compared to the upper limit of the issue price. This means that the unlisted shares of the company were trading at Rs 371 on the grey market.
Since the IPO opened for subscription, the highest grey market premium for the IPO was Rs 48. The GMP of Rs 39 recorded today is the lowest the IPO has seen so far.
The share allotment status for Vikram Solar IPO will be finalised on August 22. Shares of Vikram Solar are expected to be listed on the BSE and NSE on August 26.
The mainboard IPO was subscribed 54.63 times, led by demand from Qualified Institutional Buyers who subscribed 142.79 times.
Shreeji Shipping Global IPO GMP Today
The latest GMP for the Shreeji Shipping Global IPO was Rs 33 on August 22. The current GMP indicates a listing price of Rs 285 (Rs 252 + Rs 33) apiece, at a premium of 13.10% compared to the upper limit of the issue price. This means that the unlisted shares of the company were trading at Rs 285 on the grey market.
Since the IPO opened for subscription, the highest grey market premium for the IPO was Rs 38. The GMP of Rs 33 recorded on the opening day is the lowest the IPO has seen so far.
The share allotment status for the Shreeji Shipping IPO is expected to be finalised on August 22. Shares of Shreeji Shipping Global are expected to be listed on the BSE and NSE on August 26.
The mainboard IPO was subscribed 58.10 times, led by demand from Qualified Institutional Buyers who subscribed 110.41 times.
Gem Aromatics IPO GMP Today
The latest GMP for the Gem Aromatics IPO was Rs 26 on August 22. It indicates a listing price of Rs 351 (Rs 325 + Rs 26) per share at a premium of 8.00% over the upper limit of the IPO price band. This means that the unlisted shares of the company were trading at Rs 351 on the grey market.
Since the IPO opened for subscription, the grey market premium for the IPO has remained more or less constant.
The allotment status for the Gem Aromatics IPO is expected to be finalised on August 22. Shares of Gem Aromatics are expected to be listed on the BSE and NSE on August 26.
The mainboard IPO was subscribed 30.27 times, led by demand from Qualified Institutional Buyers who subscribed 55.28 times.
Patel Retail IPO GMP Today
The latest GMP for the Patel Retail IPO was Rs 48 on August 22. It indicates a listing price of Rs 303 (Rs 255 + Rs 48) apiece at a premium of 18.82% over the upper limit of the IPO price band. This means that the unlisted shares of the company were trading at Rs 303 on the grey market.
Since the IPO opened for subscription, the highest grey market premium for the IPO was Rs 50. The GMP of Rs 48 recorded today is the lowest the IPO has seen so far.
The share allotment status for Patel Retail IPO is proposed to be finalised on August 22. Shares of Patel Retail will be listed on the BSE and NSE on August 26.
The mainboard IPO was subscribed 95.70 times, led by demand from Qualified Institutional Buyers who subscribed 272.43 times.
Mangal Electrical IPO GMP Today
The latest GMP for the Mangal Electrical Industries IPO was Rs 30 on August 22. It indicates a listing price of Rs 591 (Rs 561 + Rs 30) apiece at a premium of 5.35% over the upper limit of the IPO price band. This means that the unlisted shares of the company were trading at Rs 591 on the grey market.
Since the IPO opened for subscription, the highest grey market premium for the IPO was Rs 34. The GMP of Rs 30 recorded today is the lowest the IPO has seen so far.
The share allotment status for the issue is proposed to be finalised on August 25. Shares of Mangal Electrical Industries will be listed on the BSE and NSE on August 28.
The mainboard IPO was subscribed 3.06 times as of 12:15 p.m. on Friday.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
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.
