Three mainboard initial public offerings (IPOs) are open for subscription today, September 17, with investors closely tracking trends in the grey market premium (GMP) ahead of the listing.
Among the three issues, Jindal Supreme (India) Ltd. leads the GMP race. The latest GMP indicates an implied listing gain of 26.88% over the issue price. Hero Motors IPO GMP follows with an implied listing gain of 15.48%, while NSE IPO GMP implies a listing gain of 7%.
Jindal Supreme (India) Ltd. and Hero Motors Ltd. opened for subscription on September 16, while the NSE IPO opens for subscription today, September 17.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
| IPO | GMP | Upper Price Band | Implied Listing Price | Implied Gain |
| Jindal Supreme (India) Ltd. | Rs 25 | Rs 93 | Rs 118 | 26.88% |
| Hero Motors Ltd. | Rs 13 | Rs 84 | Rs 97 | 15.48% |
| NSE | Rs 125 | Rs 1,785 | Rs 1,910 | 7.00% |
GMP and subscription figures will be updated at regular intervals. Check back for the latest numbers and updates.
Investors are tracking subscription levels and grey market premiums as unofficial indicators of market sentiment ahead of listing.
Here is a detailed look at the latest GMP and key IPO details for each issue.
Also Read: Prasol Chemicals IPO Listing Today: Shares Expected To List At A Discount?
NSE IPO GMP Today
According to InvestorGain website, NSE IPO GMP was reported at Rs 125. 16. With the upper price band of Rs 1,785, the estimated listing price of the IPO is Rs 1,910 (cap price + today's GMP). This implies a strong potential listing premium of 7% over the issue price.
NSE IPO Details
Issue Size & Structure: NSE is entirely an offer for sale of 12.64 crore shares of Rs 22,568.94 crore.
Price Band & Lot Size: Rs 1,700 to Rs 1,785 per share. Retail investors can apply for a minimum lot of 8 shares, requiring Rs 14,280.
Key Dates: Bidding opens on Sept. 17 and closes on Sept. 21. Allotment will be finalised on Sept. 22, with listing set for Sept. 24 on BSE and NSE.
Lead Manager & Registrar: Kotak Mahindra Capital Co. Ltd. is the book running lead manager and MUFG Intime India Pvt. Ltd. is the registrar of the issue.
Hero Motors Ltd. IPO GMP Today
Hero Motors IPO GMP stood at Rs 13 per share. The IPO has set its upper price band at Rs 84 a share, taking the implied listing price to Rs 97 when the latest GMP is added. The calculation points to a 15.48% listing upside from the upper issue price.
Hero Motors Ltd. IPO Details
Issue Size & Structure: A Rs 1,000 crore public offer comprising a fresh issue of 7.14 crore shares aggregating to Rs 600 crore and an Offer-for-Sale (OFS) of 4.76 crore shares worth Rs 400 crore.
Price Band & Lot Size: Rs 79 to Rs 84 per share. Retail investors can apply for a minimum lot of 178 shares, requiring Rs 14,952.
Key Dates: Bidding opens on Sept. 16 and closes on Sept. 18. Allotment will be finalised on Sept. 21, with listing set for Sept. 23 on BSE and NSE.
Lead Manager & Registrar: ICICI Securities Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Jindal Supreme IPO GMP Today
Jindal Supreme IPO GMP today stood at Rs 25 per share. Adding the Rs GMP to the upper price band of Rs 93 gives an implied listing price of Rs 118. This translates into an implied listing gain of 26.88% over the upper issue price.
Jindal Supreme IPO Details
Issue Size & Structure: A Rs 124.88 crore public offer comprising a fresh issue of 1.07 crore shares of Rs 99.89 crore and an Offer-for-Sale (OFS) of 26.87 lakh shares worth Rs 24.99 crore.
Price Band & Lot Size: Rs 88 to Rs 93 per share. Retail investors can apply for a minimum lot of 161 shares, requiring Rs 14,973.
Key Dates: Bidding opens on Sept. 16 and closes on Sept. 18. Allotment will be finalised on Sept. 21, with listing set for Sept. 23 on BSE and NSE.
Lead Manager & Registrar: Sarthi Capital Advisors Pvt. Ltd. is the book running lead manager and Bigshare Services Pvt. Ltd. is the registrar of the issue.
Also Read: Jindal Supreme India IPO GMP Signals 20% Listing Gains As Issue Opens Today
NSE vs Hero Motors vs Jindal Supreme: Which IPO Offers Biggest Gains?
Based purely on grey market activity, Jindal Supreme (India) Ltd. signals the highest implied listing gain of approximately 26.88%, while Hero Motors Ltd. reflects an implied gain of about 15.4% and NSE implies a listing premium of 7%.
It is important to note that GMP does not represent official data and can change before listing, so investors should not use it as the sole basis for an IPO investment decision.
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.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
