Jindal Supreme IPO and Hero Motors IPO are showing sharply different trends in the grey market as both issues enter the final day of bidding.
While Jindal Supreme's GMP has climbed to Rs 30, Hero Motors' premium has dropped to Rs 7, indicating a significant cooling in its unofficial listing expectations.
Jindal Supreme IPO GMP Increased
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Jindal Supreme IPO's grey market premium rose to Rs 30 on September 17, compared with Rs 24 a day earlier and Rs 27 on September 15. At the upper price band of Rs 93, the latest GMP implies an unofficial premium of 32.26%.
The IPO has also witnessed strong demand. It was subscribed 31.50 times, with the retail portion subscribed 39.74 times, the NII category 37.60 times and QIB portion 12.50 times, as per the NSE data.
The issue carries a price band of Rs 88-93 per share and a lot size of 161 shares. The IPO opened on September 16 and closes on September 18.
Also Read | Jindal Supreme IPO Sees 5x Demand, Hero Motors Fully Subscribed: What Latest GMP Indicates
Hero Motors IPO GMP Falls Sharply
Hero Motors, meanwhile, has seen a substantial decline in its grey market premium. Its GMP stood at Rs 24 on September 14 and September 15, before falling to Rs 5 on September 16 and recovering slightly to Rs 7 on September 17.
At the upper issue price of Rs 84, the latest GMP indicates an unofficial premium of around 8.33%.
Despite the weaker GMP, subscription demand remains positive. Hero Motors IPO was subscribed 3.36 times, with the retail portion booked 5.02 times, NII 3.90 times, while QIB subscription stood at 0.07 times.
The IPO has a price band of Rs 79-Rs 84, with a lot size of 178 shares. The issue comprises a fresh issue of up to Rs 600 crore and an offer for sale of up to Rs 400 crore, taking the total issue size to Rs 1,000 crore.
Also Read | Hero Motors IPO GMP Signals 29% Listing Gain, But Here's What Investors Need To Know
Jindal Supreme vs Hero Motors
The latest data shows a clear divergence: Jindal Supreme has strong subscription momentum alongside a rising GMP, while Hero Motors remains oversubscribed but has witnessed a sharp correction in its grey-market premium.
GMP is an unofficial indicator and can change before listing. Investors should therefore distinguish it from actual IPO subscription data and the eventual listing price.
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