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Next week is going to be full of action in the primary market of the Indian stock market. Next week, not one or two in the stock market, but a total 8 companies Going to list its shares. There is tremendous enthusiasm among investors regarding many of these companies, because these shares have attracted the attention of investors with their strong movements in the gray market before listing.
According to gray market signals available on InvestorGain, companies such as Orient Cables and SRIT India are helping their investors on the very first day. Great profit of more than 40 percent Can get it done. However, experts believe that the Gray Market Premium (GMP) is indicative of a completely informal and uncertain market, which can change rapidly before listing. Therefore, it is very important to understand the fundamentals of the company before assessing any investment or listing. Let us know how the condition of all these companies going to be listed next week is going to be.
Gray market premium as a percentage Orient Cables It is at the top of this list. According to reports, its GMP is currently trading around ₹120, which is almost lower than its upper price band of ₹272. Heavy premium of 44.12% Shows. On this basis, the estimated listing price of this share can reach around ₹ 392.
Let us tell you that this IPO was opened between September 25 and September 29 and the company has raised ₹ 552 crore through it. The issue received huge support from investors and was subscribed a total of 97.28 times. Its shares are going to be listed on BSE and NSE on October 5.
Second big name in this series SRIT India Is of. Its GMP is currently around ₹52, compared to its upper price band of ₹130. 40% premium Shows. Accordingly, the possible listing price of the share could be around ₹ 182.
SRIT India’s IPO was open from September 28 to September 30 and the company raised ₹218.40 crore through it. This IPO received a historic response from investors and was subscribed a total of 125.16 times. Listing of shares of this company is proposed on 6 October.
Here are the gray market signals and their likely positions for other companies likely to list next week:
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Shah Investor’s Home: The GMP of this IPO is currently trading around ₹15.75, which is a premium of approximately 9.43% over the upper price band of ₹167. The listing of its shares will take place on October 6 and the estimated price is around ₹182.75.
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Vishal Nirmiti: Its GMP is trading at ₹20, which is 9.09% against the upper price band of ₹220. Its estimated listing price is expected to be around ₹240 and it will be listed on October 8.
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German Green Steel: The GMP of this issue is ₹11.50 i.e. 8.27% at the price band of ₹139. Its estimated listing price could be around ₹150.50 and its shares will hit the market on October 5.
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Nityas Gems & Jewellery: Its GMP is 4% at the price band of ₹3 i.e. ₹75. Its estimated listing price is around ₹78 and it will be listed on October 8.
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AceVector (Snapdeal related company): The GMP of this IPO is extremely muted i.e. ₹0.60, which is a flat premium of around 1.88% on the price band of ₹32. Its listing is to take place on October 5.
At the bottom of this entire list Runjwal Enterprises is the name where investors need to be cautious. As per available data, its GMP is currently Negative ₹5 (i.e. -1.64%) It is going on.
This simply means that in the gray market this share is trading below its issue price. Based on this negative GMP, its estimated listing price could be below its upper price band of ₹305 i.e. around ₹300. The IPO of this company was open from September 25 to September 29 and it received a total subscription of 2.50 times. Its shares are going to be listed on October 5, so investors should keep a close eye on the market trend.