Ahead of the IPO shares of the company were trading at Rs 1,730 apiece in the grey market marking a premium of Rs 605 or 53.77%.
SEBI recently gave a go-ahead for IPOs to companies like Paytm, Nykaa, Fino Payments, Policybazaar, Adani Wilmar and Star Health & Allied Insurance
Shares of the company are quoting at Rs 405 apiece in the grey market marking a premium of Rs 230 or 131% over its issue price of Rs 175.
Market experts are of the opinion that as many as 9 companies could raise around Rs 12,500 crore.
In the grey market shares of Vijaya Diagnostic Centre is quoting at a premium of Rs 10 or 1.88% while Ami Organics is at a premium of Rs 60 or 9.83%
Glenmark Life Sciences is quoting at a premium of Rs 90 over its issue price of Rs 720 while Rolex Rings is commanding a GMP of Rs 470 per share
High sentiment in primary markets may emanate in listing gains but for the long term, it would be worthy to watch for future performance
Grey Market is an unofficial market for IPOs. It is an over-the-counter market where IPO applications and IPO shares are traded before they get listed on stock exchanges.
Ahead of the public issue, the issue is quoting at a premium of Rs 225-250 per share offering 40-45% premium over the offer price. Most brokerage houses have given it ‘Subscribe’ rating with a lon