Welcome to a comprehensive update on the latest Grey Market Premium (GMP) for several Initial Public Offerings (IPOs) as of August 24th. This article delves into the subscription status, important dates, and potential listing gains for various IPOs, including Anandita Medic, Vikram Solar, Jem Aromatics, Shriji Global Shipping, and Patel Retail.
Anandita Medic IPO: Detailed Analysis
The Anandita Medic IPO opened for subscription on August 2nd. Investors still have an opportunity to apply on August 25th and August 26th. The company’s shares have a face value of ₹10, with the upper price band set at ₹145. To apply, investors need to select a minimum of two lots, totaling 2000 equity shares.
The total issue size for Anandita Medic IPO is approximately ₹69.50 crore, which is a fresh issue. Around 50% of the shares are reserved for Qualified Institutional Buyers (QIBs), 35% for retail investors, and 15% for High Net Worth Individuals (HNIs). The company is set to list on the NSE SME exchange.
Key dates for Anandita Medic IPO include August 28th for allotment. Refunds for unallotted shares and the crediting of shares to Demat accounts are scheduled for August 29th. The company’s shares are expected to list on both BSE and NSE on September 1st. For retail investors, applying for two lots requires an approximate investment of ₹290,000. Small HNI applicants would need to select three lots, requiring around ₹435,000, while big HNI applicants require seven lots, needing approximately ₹1,015,000. Prior to the IPO, promoters held 84% of the company, which will stand at 62% post-IPO.
As of the end of the first day, the IPO was subscribed 3.44 times, with a good response from HNI and retail categories. It is advised to observe the subscription figures on subsequent days before making a final application decision. The Grey Market Premium (GMP) for Anandita Medic IPO currently stands at ₹65. This suggests a listing price of around ₹210, potentially offering a listing gain of approximately 45% or ₹65,000 per lot. A stronger response from QIBs and HNIs in the coming days could further enhance this momentum.
Mangal Electrical IPO: Listing Insights
For those who applied to the Mangal Electrical IPO, the shares have a face value of ₹10. At a current price of ₹561, successful applicants would have received 26 equity shares per lot.
The allotment status for this IPO was updated on August 25th. Refunds for non-allottees and Demat account credit for allotted shares are scheduled for August 26th. The company is slated for listing on both BSE and NSE on August 28th.
The Mangal Electrical IPO witnessed a subscription of approximately 11 times in the QIB category, while the Big HNI and Small HNI categories combined saw about 20 times subscription. The retail portion was subscribed around 5 times, leading to an overall subscription figure of 10 times. Due to these figures, the Grey Market Premium (GMP) is not showing strong positive sentiment, currently at ₹15. This indicates a potential listing price of ₹576 and an estimated listing gain of approximately 2.5%, translating to roughly ₹390 per lot.
Jem Aromatics IPO: Allotment and Listing Details
The Jem Aromatics IPO was open for subscription from August 19th to August 21st. Successful applicants were allotted shares at a price of ₹325, with 46 equity shares per lot.
Important dates for this IPO include August 25th for processing refunds for unallotted shares and crediting shares to Demat accounts. The company is expected to list on both BSE and NSE on August 26th.
The IPO saw significant oversubscription, with the QIB category subscribed approximately 53.76 times. The HNI category was subscribed around 45.96 times, with Big HNI applicants reaching about 48 times. The total subscription figure stood at 35 times. The Grey Market Premium (GMP) for Jem Aromatics IPO is currently ₹27. This suggests a potential listing price of ₹352, indicating an approximate listing gain of 8% or around ₹1,242 per lot.
Shriji Global Shipping IPO: Subscription and Potential Gains
The last date to apply for Shriji Global Shipping IPO was August 21st. Allotment of shares was at a cut-off price of ₹252, with 58 equity shares per lot.
The allotment date for Shriji Global Shipping IPO was August 24th. Refunds for non-allottees and Demat account credit are scheduled for August 25th. The company’s shares are set to list on both BSE and NSE on August 26th.
This IPO garnered a strong response, with the QIB category being oversubscribed approximately 110 times. The HNI category saw a subscription of about 73 times (both Big HNI and Small HNI categories were around 73-72 times, respectively). Retail investors subscribed around 22 times, leading to a robust overall subscription figure of 58 times. The strong subscription numbers have pushed the Grey Market Premium (GMP) into double-digit figures. The listing price is expected to be around ₹382, with an estimated listing gain of approximately 1.1% or about ₹1,740 per lot.
Patel Retail IPO: Allotment and Listing Performance
Investors who applied for the Patel Retail IPO can check their allotment status. Important dates include August 25th for refunds and Demat account credit. The company is scheduled to list on August 26th.
The Patel Retail IPO received an overwhelming response, with the QIB category oversubscribed an impressive 272 times. All categories showed excellent response, resulting in a total subscription figure of 95.69 times. The Grey Market Premium (GMP) for Patel Retail IPO is currently ₹47. This suggests a potential listing price of ₹302, indicating an approximate listing gain of 19% or around ₹2,726 per lot.
Vikram Solar IPO: Current GMP and Listing Expectations
The Vikram Solar IPO closed for subscription on August 21st. Applicants had to select 45 equity shares at a cut-off price of ₹332.
The company is expected to list on both BSE and NSE on August 26th. A dedicated listing strategy video will be available soon to provide further insights.
The Vikram Solar IPO saw a good overall response, with a subscription of approximately 56 times. The QIB category also showed a strong response. The Grey Market Premium (GMP) for Vikram Solar IPO is currently around ₹41. This suggests a potential listing gain of approximately 12% or about ₹1,845 per lot.
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