Gem Aromatics IPO, Shreeji Shipping IPO, Vikram Solar IPO: What Do Grey Market Premiums Signal Ahead Of Allotment On Aug 22
The initial public offerings (IPOs) of Gem Aromatics, Shreeji Shipping Global, Patel Retail, and Vikram Solar will close for subscription on August 21. As bidding for these four IPOs concludes, investors will be looking closely at the respective grey market premiums (GMP) of these public issues.
Shreeji Shipping Global IPO
The GMP for the Shreeji Shipping Global IPO was Rs 35 as of 10:00 a.m. on August 21. The latest GMP indicates a listing price of Rs 287 (Rs 252 + Rs 35) apiece, at a premium of 13.89% compared to the upper limit of the issue price. This means that the unlisted shares of the company were trading at Rs 287 on the grey market.
About Shreeji Shipping Global IPO
The Shreeji Shipping Global IPO is a book build issue of Rs 410.71 crore. It comprises entirely a fresh issue of 1.63 crore shares worth Rs 410.71 crore.
The price band for the IPO has been fixed between Rs 240 and Rs 252 per share.
Investors can bid for at least a single lot size of 58 shares and in multiples thereof.
The allotment status for the 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.
Gem Aromatics IPO
According to InvestorGain, the GMP for the Gem Aromatics IPO stood at Rs 29 as of 10:30 a.m. on August 21. It indicates a listing price of Rs 354 (Rs 325 + Rs 29) per share at a premium of 8.92% over the upper limit of the IPO price band.
About Gem Aromatics IPO
The Gem Aromatics IPO is a book build issue of Rs 451.25 crore. It consists of a fresh issue of 54 lakh shares worth Rs 175 crore and an offer-for-sale (OFS) of 85 lakh shares worth Rs 276.25 crore.
The price band for the IPO has been fixed between Rs 309 and Rs 325 per share.
Investors can bid for at least a single lot size of 46 shares and in multiples thereof.
The allotment status for the 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.
Vikram Solar IPO
The GMP for the Vikram Solar IPO stood at Rs 42 as of 10:00 a.m. on August 21. The latest GMP indicates a listing price of Rs 374 (Rs 332 + Rs 42) apiece, at a premium of 12.65% compared to the upper limit of the issue price.
About Vikram Solar IPO
The Vikram Solar IPO is a book build issue of Rs 2,079.37 crore. It comprises a fresh issuance of 4.52 crore shares worth Rs 1,500 crore and an offer-for-sale (OFS) of 1.75 crore shares aggregating to Rs 579.37 crore.
The price band for the IPO has been fixed between Rs 315 and Rs 332 per share.
Investors can bid for at least a single lot size of 45 shares and in multiples thereof.
The share allotment status for the issue is expected to be finalised on August 22. Shares of Vikram Solar are expected to be listed on the BSE and NSE on August 26.
Patel Retail IPO
According to InvestorGain, the GMP for the Patel Retail IPO stood at Rs 50 as of 10:00 a.m. on August 21. It indicates a listing price of Rs 304 (Rs 255 + Rs 49) apiece at a premium of 19.22% over the upper limit of the IPO price band.
About Patel Retail IPO
The Patel Retail IPO is a book build issue of Rs 242.76 crore. It comprises a fresh issue of 85 lakh shares worth Rs 217.21 crore and an offer-for-sale (OFS) of 10 lakh shares aggregating to Rs 25.55 crore.
The price band for the IPO is set between Rs 237 and Rs 255 per share.
Investors can bid for at least a single lot size of 58 shares and in multiples thereof.
The share allotment status for the issue is proposed to be finalised on August 22. Shares of Patel Retail will be listed on the BSE and NSE on August 26.
Conclusion
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.
Note: GMP does not represent official data and is based on speculation.
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.