Latest IPO Grey Market Premium Updates: August 4th, 2023
Hello everyone! In this article, we’ll dive into the latest Grey Market Premium (GMP) updates for August 4th. We’ll explore the percentage premium at which IPOs are trading in the grey market, alongside the expected listing gain per lot. This update covers several IPOs, including Aditya Infotech IPO, NSDL IPO, Lakshmi India Finance IPO, MNB Engineering IPO, and Shri Lotus Developers IPO, among others. We will detail any positive or negative changes observed in their Grey Market Premium.
Lakshmi India Finance IPO Update
The Lakshmi India Finance IPO was open from July 29th to July 31st. For successful applicants, shares were allocated at ₹158 with a lot size of 94 equity shares. The allotment status for this IPO became available on August 1st. As of August 4th, refunds for unallotted applications are being processed, and shares are being credited to Demat accounts. The company is set to list on both BSE and NSE on August 5th.
While the IPO did not see exceptionally high subscription numbers, which typically indicates strong listing expectations, the presence of significant and interesting names among its anchor investors suggests potential positive momentum for the company in the future, even if initial listing gains are modest. On August 3rd, the Grey Market Premium for this IPO was ₹3, trading at approximately 2%. On August 4th, the GMP remains the same at ₹3. This projects a listing price of ₹161 (₹158 + ₹3), an approximate gain of 1.9%, or about ₹282 per lot.
Highway Infrastructure IPO: Upcoming Main Board IPO
The Highway Infrastructure IPO, a main board IPO, is scheduled to open for subscription from August 5th to August 7th. The company has a face value of ₹5, and the upper price band is set at ₹70, which is the recommended price for application. Investors are required to apply for a minimum of 211 equity shares per lot.
This IPO features a relatively small issue size, which may result in a lower chance of allotment. Retail investors are allocated up to 40% of the total issue size. Decisions on applying for this IPO will be based on the response received on the first and second days of subscription. Allotment information is expected by August 8th. Refunds for non-allotments and Demat account credit for allotted shares are scheduled for August 11th. The company will list on both BSE and NSE on August 12th. A minimum investment of approximately ₹14,770 is required to apply for one lot. On August 3rd, the Grey Market Premium for this IPO was ₹39. As of August 4th, there has been a slight improvement, with the GMP now at ₹40. This suggests an expected listing price of ₹110 (₹70 + ₹40), indicating a substantial 57% listing gain, or approximately ₹8,440 per lot. Daily updates for this IPO will be provided once it opens.
MNB Engineering IPO Update
The MNB Engineering IPO was open from July 13th to August 1st. Applicants selected a minimum of 38 equity shares per lot at a cut-off price of ₹350. Allotment for this IPO is expected on August 4th, determined through a lottery system. The company is scheduled to list on both BSE and NSE on August 6th.
The IPO saw significant interest from retail investors, with the retail portion being subscribed 34.36 times. This high subscription was partly due to only 10% of the total issue size being allocated to retail investors. On August 3rd, the Grey Market Premium for MNB Engineering IPO was ₹45. As of August 4th, the GMP remains unchanged at ₹45. With the Grey Market Premium at ₹45, and considering a base of approximately ₹385, the estimated listing price for this company is around ₹430. This translates to an expected listing gain of approximately 11.5%, or about ₹1,710 per lot.
Aditya Infotech IPO Update
For those who applied to the Aditya Infotech IPO, allotment information was made available on August 1st. On August 4th, refunds for unsuccessful applications are being processed, and shares are being credited to Demat accounts for successful allottees. The company is set to list on August 5th.
Despite being subscribed a record number of times, the current market conditions, including a slight market decline and a general cautious sentiment, are influencing its Grey Market Premium. On August 3rd, the GMP was ₹305. As of August 4th, it has seen a slight adjustment downwards to ₹300. Based on a base price of ₹675, the expected listing price is ₹975 (₹675 + ₹300). This indicates an approximate listing gain of 65%, potentially yielding around ₹6,600 per lot.
Shri Lotus Developers IPO Update
Allotment status for the Shri Lotus Developers IPO is expected today, August 4th. This IPO also witnessed a record number of subscriptions. On August 3rd, the Grey Market Premium for this IPO was ₹37. There has been no change in its GMP as of August 4th, remaining at ₹37. The expected listing price is ₹187, which suggests an approximate listing gain of 25%, or about ₹3,700 per lot.
NSDL IPO Update
Allotment status updates for the NSDL IPO are expected on August 4th. On August 3rd, the Grey Market Premium for this IPO was ₹118, with an expected listing price of ₹918. As of August 4th, its Grey Market Premium has slightly improved to ₹120. This projects an expected listing price of approximately ₹920, translating to an estimated listing gain of around 15%, or about ₹2,160 per lot.
Conclusion
Overall, the Grey Market Premium for these IPOs shows slight fluctuations today, August 4th. Any further significant changes in GMP after market closing will be updated.
