- By Aditya Pratap Singh
- Wed, 29 Nov 2023 12:46 PM (IST)
- Source:JND
Last week Initial Public Offer (IPO) of 5 Companies was open for Investors. Subscriptions for all of them have been closed and four of them will go live on exchanges on November 30 and December 01. The much-awaited listing of Tata Technologies along with Gandhar Oil Refinery, and Fedbank Financial Service will be listed on the National Stock Exchange and Bombay Stock Exchange on Thursday (November 30). Flair Writing Industries Ltd will go live on the exchanges on December 1.
The Shares of IREDA were listed with a strong 56% premium as compared to its issue price on exchanges on Wednesday (November 29). IREDA IPO issue Price was Rs 32 and the company’s shares started trading at Rs 50 on both the exchanges.
All five IPOs witnessed stellar responses from the investors to which IREDA is listed now. Investors in four others are expecting huge gains from their investment. Let’s talk about IPO subscription rates and Grey market performance (GMP).
What is GMP: GMP is the premium at which IPO shares are traded in the informal market before listing on stock exchanges.
Tata Technologies IPO GMP
It was one of the most awaited IPOs since it was announced and when it came it attracted a tremendous response from investors. The IPO was subscribed 69.43 times. If we look at the gray market data, Tata Technologies is likely to deliver a strong listing with around 80% premium. According to various sources, Tata Technologies shares may start trading at Rs 910-920 on the listing date.
Gandhar Oil Refinery GMP
The IPO of Gandhar Oil Refinery was subscribed 64.07 times. Shares of Gandhar Oil are currently trading at a gray market premium (GMP) of ₹75 per share.
Flair writing industries GMP
We all must have used a pen manufactured by Flair Writing Industries. Its IPO opened last week and was subscribed 46.68 times. Flair Writing IPO Gray Market Premium indicates that the Flair Writing IPO share price will trade at a premium of ₹80.
Considering the top end of the IPO price, the estimated list price of Flare Writing's IPO share is ₹384 each, which is 26.32% higher than the IPO price of ₹304.
FedBank Financial Services GMP
FedBank Financial Services IPO had seen a good response from the investors. It was subscribed 2.20 times. FedBank Financial Services shares are not doing well in the gray market. The stock was trading at a premium of ₹5-10 per share.
