Latest IPO Grey Market Premium Updates: Blue Stone, Regal Resources, & Vikram Solar (August 15)
Welcome to today’s Grey Market Premium (GMP) update for August 15th. This article will cover the latest GMP trends, potential listing gains per lot, and key details for Blue Stone Jewellery IPO, Regal Resources IPO, and Vikram Solar IPO. Stay tuned for daily IPO and GMP updates by subscribing to our channel and joining our Telegram group (link in comments).
Blue Stone Jewellery IPO GMP Update
The Blue Stone Jewellery IPO was open for application on August 11th, 12th, and 13th. The company’s face value was ₹1, with a cut-off price of ₹517. Applicants were required to select a minimum of 29 equity shares. Allotment statuses for those who applied by August 13th began to appear on the registrar’s site late that night. Shares will be credited to Demat accounts, and refunds processed, by August 18th. The company is set to list on both BSE and NSE on August 19th.
Subscription figures for Blue Stone Jewellery IPO showed it was not significantly oversubscribed. The HNI category was subscribed approximately 0.50 times. The retail portion was oversubscribed at 1.38 times, largely due to only 10% of the total issue size being reserved for retail investors. The overall subscription for the IPO stood at 2.72 times.
As of August 15th, the Grey Market Premium (GMP) for Blue Stone Jewellery IPO is trading at ₹2. With a cut-off price of ₹517, the estimated listing price is ₹519. This suggests a potential listing gain of approximately 0.39% per lot. Despite market volatility impacting GMPs, this IPO shows a positive trend. Further updates, including a listing strategy video, will be available on this channel by Sunday.
Regal Resources IPO GMP Update
The Regal Resources IPO application period ran from August 12th to August 14th. The company’s face value is ₹5, with a price band of ₹120. Applicants needed to select 144 equity shares at the upper price band to be considered for allotment. A minimum application of ₹14,688 was required for one lot. For Big HNI applications, approximately ₹13,472,000 was required. Promoter holding stood at nearly 100% pre-IPO, which will reduce to 70.45% post-IPO.
The total issue size for Regal Resources IPO is ₹306 crore, comprising ₹210 crore as a fresh issue and ₹96 crore as an offer for sale (OFS). The issue is structured with 50% reserved for Qualified Institutional Buyers (QIBs), 35% for retail investors, and 15% for High Net Worth Individuals (HNIs). Despite the 35% allocation, the chances for retail investors to receive an allotment are expected to be low.
Key dates for Regal Resources IPO include allotment status on August 18th. Refunds will be processed, and shares credited to Demat accounts, on August 19th. The company is scheduled to list on both BSE and NSE on August 20th. Updates on the allotment status will be shared on our Telegram group.
The IPO received an excellent response, with QIBs subscribing 190 times. The HNI category was subscribed 356 times (Big HNI at 387 times, Small HNI at 294 times). Retail investors subscribed 58 times. The total subscription for Regal Resources IPO reached an impressive 159-160 times.
Despite market volatility, Regal Resources IPO’s Grey Market Premium (GMP) is robust, currently at ₹24. This projects an estimated listing price of ₹126, indicating a potential listing gain of approximately 23% per lot, which translates to around ₹2,456.
Vikram Solar IPO GMP Update
Vikram Solar IPO, from the solar sector, is scheduled to open on August 19th and close on August 21st, with August 20th being the second day for applications. This was a much-awaited IPO, but the high valuation demands set by the company have affected its Grey Market Premium (GMP). A more attractive valuation could have led to better GMP momentum. We will observe the subscription figures on August 19th and 20th before planning an application on August 21st.
The company’s face value is ₹10, and the upper price band is ₹332. Applicants should apply at this cut-off price, selecting 45 equity shares for one lot. The total issue size is approximately ₹2,080 crore, with ₹1,500 crore as a fresh issue and ₹580 crore as an offer for sale (OFS) for existing shareholders and promoters. The allocation is 50% for QIBs, 35% for retail investors, and 15% for HNIs. The company is a book-building IPO and will list on both BSE and NSE.
Important dates include allotment on August 24th, refunds and Demat credit on August 25th, and listing on both BSE and NSE on August 26th. The minimum application amount for one lot is ₹14,940. For the Small HNI category, ₹2,09,160 is required, and for Big HNI, ₹10,00,980. Promoter holding will reduce from approximately 78% pre-IPO to 63% post-IPO.
Currently, the Grey Market Premium (GMP) for Vikram Solar IPO is around 17%, projecting an estimated listing price of ₹389. This suggests a potential listing gain of approximately ₹2,600 per lot.
