Welcome! This article provides the latest Grey Market Premium (GMP) updates as of August 23rd. We’ll explore the current premium percentages, estimated listing gains per lot, and basic information for several IPOs, including Vikram Solar IPO, Gem Aromatics IPO, Shreeji Shipping Global IPO, and Patel Retail IPO. Stay tuned for daily IPO Grey Market Premium updates.
Mangal Electrical IPO
The Mangal Electrical IPO opened for applications on August 20th and closed on August 22nd. Applications were accepted on August 20th, 21st, and 22nd. The company’s face value is ₹10 per share, with the upper price band set at ₹561. Investors were required to select a minimum of 26 equity shares per lot.
The issue size for Mangal Electrical IPO was approximately ₹400 crore. Of this, 50% of shares are allocated to Qualified Institutional Buyers (QIBs), 35% to retail investors, and 15% to High Net Worth Individuals (HNIs). The entire issue size is a fresh issue, with the proceeds intended to boost the company’s potential and reduce debt. The company will be listed on both BSE and NSE.
Key dates for the Mangal Electrical IPO include the allotment date on August 25th, refund processing on August 26th, and shares being credited to Demat accounts on August 26th. The company’s listing is scheduled for August 28th. The IPO saw moderate subscription figures: QIBs subscribed approximately 11 times, HNIs around 19-20 times (Big HNI: ~20x, Small HNI: ~19x), and retail investors subscribed 5.09 times. The total subscription for the IPO was 9.95 times.
Currently, the Grey Market Premium (GMP) for Mangal Electrical IPO is ₹15. Based on this, the estimated listing price is ₹576, suggesting an approximate 2.5% listing gain. This translates to an estimated listing gain of around ₹390 per lot. The actual listing gain will significantly depend on prevailing market conditions.
Gem Aromatics IPO
For those who applied for the Gem Aromatics IPO, the allotment status became available late last night (August 22nd). Funds will be refunded on August 25th for unallotted applications, and shares will be credited to Demat accounts on August 25th for successful applicants. The company is scheduled to list on August 26th.
The IPO was well-received, with a total subscription of approximately 30 times. QIBs showed strong interest, subscribing roughly 24 times, while HNIs subscribed around 46 times. This strong subscription has contributed to a positive trend in its Grey Market Premium.
As of August 23rd, the GMP for Gem Aromatics IPO is ₹27. The estimated listing price is ₹352, indicating a potential listing gain of approximately 8.5%. This could result in an estimated listing gain of about ₹1242 per lot.
Shreeji Shipping Global IPO
The allotment status for Shreeji Shipping Global IPO was also available yesterday (August 22nd). For those who did not receive an allotment, refunds are scheduled for August 25th. If allotted, shares will be credited to Demat accounts on August 25th. The company’s listing on both BSE and NSE is set for August 26th.
The Shreeji Shipping Global IPO witnessed robust subscription across all categories: QIBs subscribed approximately 110 times, HNIs over 72 times (Big HNI: ~73x, Small HNI: ~72x), and retail investors about 22 times. The total subscription for the IPO was approximately 28 times.
With such strong interest, the Grey Market Premium for Shreeji Shipping Global IPO is currently ₹30. This suggests an estimated listing price of ₹282, which could translate to a listing gain of around 12%. Per lot, investors might see an estimated gain of approximately ₹1740.
Patel Retail IPO
For those fortunate enough to receive an allotment in the Patel Retail IPO, the allotment status was released yesterday (August 22nd). Unsuccessful applicants will receive their refunds on August 25th, while credited shares will appear in Demat accounts on August 25th. The company is slated for listing on both BSE and NSE on August 26th.
The Patel Retail IPO garnered exceptional subscription numbers. QIBs subscribed a remarkable 272 times, HNIs approximately 108 times (Big HNI: ~102x, Small HNI: ~120x), and retail investors 52.55 times. The total subscription for this IPO was approximately 969 times.
This overwhelming demand is reflected in the Grey Market Premium (GMP) for Patel Retail IPO, which stands at ₹47 as of August 23rd. The estimated listing price is ₹302, indicating a potential listing gain of approximately 19%. This could lead to an estimated listing gain per lot ranging from ₹2700 to ₹2800. The excellent momentum in the GMP suggests a strong listing.
Vikram Solar IPO
Vikram Solar, a company from the solar sector, also saw strong subscription numbers. However, its Grey Market Premium (GMP) hasn’t fully mirrored this due to certain allegations or a pending case, introducing some perceived risk. Allotment status for this IPO was available late last night (August 22nd), and many retail investors likely received allotments.
Refunds for unallotted applications are scheduled for August 25th. If allotted, shares will be credited to Demat accounts on August 25th. The company is expected to list on both BSE and NSE on August 26th.
QIBs showed significant interest, subscribing approximately 1445 times. The total subscription for Vikram Solar IPO was 56.42 times. The Grey Market Premium for Vikram Solar IPO is currently trading at ₹44. Based on this, the estimated listing price is ₹373, suggesting an approximate 12.5% listing gain. This could result in an estimated listing gain of around ₹1900 per lot.
These updates reflect the current grey market premiums and subscription trends for various IPOs as of August 23rd. Share your thoughts in the comments if you applied for any of these IPOs or received an allotment, as this feedback helps in our listing day strategy discussions.
