6 IPOs Conclude This Week: How Are They Going To Fare On Listing Day? Check GMP, Subscription Status

IPO GMP Today: In one of the busiest weeks for the primary market in recent years, this week saw five mainboard IPOs worth Rs 7,377 crore — Tata Technologies, IREDA, Gandhar Oil Refinery, Flair Writing Industries, and Fedbank Financial Services. All these five initial public offerings were oversubscribed. Apart from these, there was also a blockbuster SME IPO — Rockingdeals Circular Economy IPO, which received a whopping 213 times subscription.

Mahavir Lunawat, managing director of Pantomath Capital Advisors, said, “The week ending November 24 is one of the busiest weeks for the primary market in recent years, as five mainboard IPO of Flair Writing, Fedbank Financial Services, Gandhar Oil Refinery India, Tata Technologies and IREDA opened to raise Rs 7,377 crore.”

He said the huge appetite for equities stems from the confidence that investors have in the India growth story and the large universe of fast-growing, well-managed companies, which are expected to deliver good profits.

“Nearly 300 companies have debuted on the bourses in the 10 years to FY23. All this has been possible because of the fast-growing and deepening secondary market where the daily average turnover in the cash segment of the National Stock Exchange (NSE) is now about Rs 65,000 crore,” he said.

IPO Grey Market

According to market observers, the grey market premium or GMP of Tata Technologies IPO is the highest at 81.6 per cent, indicating the strongest listing gain among 5 other IPOs. Tata Tech GMP is followed by Gandhar Oil Refinery’s GMP of 44.38 per cent, Rocking Deals Circular (42.86 per cent), IREDA (31.25 per cent), Flair Writing IPO (27.63 per cent), and Fedbank Financial Services (zero).

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price. It also indicates how much gains investors are going to make on the listing day. The GMP is based on market sentiments and keeps changing.

Tata Technologies IPO GMP, Subscription

Tata Technologies IPO, which was opened for public subscription between November 22 and November 24, received a whopping 69.43 times subscription. The price range for the offer stood at Rs 475-500 a share. Its listing is likely to take place on December 5.

According to market observers, unlisted shares of Tata Technologies are indicating strong listing gains and are trading Rs 408 higher in the grey market as compared with its issue price. The Rs 408 grey market premium or GMP means the grey market is expecting a 81.60 per cent listing gain from the public issue.

IREDA IPO GMP, Subscription

The initial public offering of Indian Renewable Energy Development Agency (IREDA), which was opened for public subscription between November 21 and November 23, received a decent 38.8 times subscription. The price range for the IREDA IPO stood at Rs 30-32 a share. Its listing is likely to take place on December 4.

According to market observers, unlisted shares of IREDA are trading Rs 10 higher in the grey market as compared with its issue price. The Rs 10 grey market premium or GMP means the grey market is expecting a 31.25 per cent listing gain from the public issue.

Gandhar Oil Refinery IPO GMP, Subscription

Gandhar Oil Refinery IPO, which was opened for public subscription between November 22 and November 24, received a strong 65.63 times subscription. The price range for the offer stood at Rs 160-169 a share. Its listing is likely to take place on December 5.

According to market observers, unlisted shares of Gandhar Oil Refinery are trading Rs 75 higher in the grey market as compared with its issue price. The Rs 75 grey market premium or GMP means the grey market is expecting a 44.38 per cent listing gain from the public issue.

Flair Writing IPO GMP, Subscription

Flair Writing IPO, which was opened for public subscription between November 22 and November 24, received a 49.28 times subscription. The price range for the offer stood at Rs 288-304 a share. Its listing is likely to take place on December 5.

According to market observers, unlisted shares of Flair Writing are trading Rs 84 higher in the grey market as compared with its issue price. The Rs 84 grey market premium or GMP means the grey market is expecting a 27.63 per cent listing gain from the public issue.

Fedbank Financial Services IPO GMP, Subscription

Fedbank Financial Services IPO, which was opened for public subscription between November 22 and November 24, received a 2.24 times subscription. The price range for the offer stood at Rs 133-140 a share. Its listing is likely to take place on December 5.

According to market observers, unlisted shares of Fedbank Financial Services with zero GMP, indicating no gains on the listing gains.

Rocking Deals Circular IPO GMP, Subscription

Rocking Deals Circular IPO, which was opened for public subscription between November 22 and November 24, received a whopping 312.64 times subscription. The SME price for the offer was fixed at Rs 140 a share. Its listing is likely to take place on November 30 on the NSE SME.

According to market observers, unlisted shares of Rocking Deals Circular are trading Rs 60 higher in the grey market as compared with its issue price. The Rs 84 grey market premium or GMP means the grey market is expecting a 42.86 per cent listing gain from the public issue.