IPO Grey Market Forecasts Stellar Jindal Supreme Listing, Hero Motors Seen Tepid; NSE GMP Unchanged

The grey market premium (GMP) of four upcoming initial public offerings (IPOs) showed mixed trends as investors tracked the issues ahead of their respective listing dates.

Jindal Supreme and SS Retail continued to command strong premiums in the grey market, while NSE saw its GMP unchanged. Hero Motors' GMP, meanwhile, remained tepid.

Jindal Supreme IPO GMP

Jindal Supreme's GMP was up 32.26% at Rs 30, implying an estimated listing price of Rs 123 against the upper end of its IPO price band. The company is looking to raise Rs 124.88 crore through its IPO, comprising a fresh issue of Rs 99.89 crore and an Offer for Sale (OFS) of Rs 24.99 crore.

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The price band has been fixed at Rs 88-93 per share, with a lot size of 161 shares. The minimum investment for retail investors is Rs 14,973. The allotment is expected on September 21, while the shares are proposed to list on the NSE and BSE on September 23.

SS Retail IPO GMP

SS Retail's GMP was up 32.31% at Rs 137, indicating an estimated listing price of Rs 561.

The company is targeting a Rs 500-crore fundraise through the IPO, comprising a fresh issue of Rs 360 crore and an OFS of Rs 140 crore. The IPO will remain open from September 16 to September 18. The allotment is expected on September 21, followed by a proposed listing on the NSE and BSE on September 23.

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The price band has been fixed at Rs 403-424 per share. With a lot size of 35 shares, the minimum investment for retail investors is Rs 14,840.

Hero Motors IPO GMP

Hero Motors' GMP rose 7.14% at Rs 6. At this premium, the estimated listing price is around Rs 90, based on the upper end of the IPO price band.

Hero Motors, an automotive component maker and separate entity from listed auto major Hero MotoCorp, launched its Rs 1,000-crore IPO on September 16. The issue will close on September 18. The IPO comprises a fresh issue of Rs 600 crore and an OFS of Rs 400 crore.

The company has fixed the price band at Rs 79-84 per share, with a lot size of 178 shares. The minimum investment required for retail investors is Rs 14,952. The allotment is expected on September 21, while the shares are proposed to list on the NSE and BSE on September 23.

NSE IPO GMP

NSE's GMP was up 8.29% at Rs 148, implying an estimated listing price of Rs 1,933 against the upper end of its price band at Rs 1,785. National Stock Exchange of India has launched the largest IPO among the five upcoming issues, with a total issue size of Rs 22,561.57 crore.

The IPO comprises an OFS of 12.64 crore shares and does not include a fresh issue. The issue opened on September 17 and will close on September 21. The allotment is expected on September 22, while the shares are proposed to list on the BSE on September 24.

NSE has fixed the price band at Rs 1,700-1,785 per share. The lot size is eight shares, taking the minimum investment for retail investors to Rs 14,280.

Grey market premiums are unofficial indicators of market sentiment and can change before listing. They should not be treated as a guarantee of the actual listing price.

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